I’ve posted Entry #575 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called All Stock Gains Are Rooted in Learning Experiences.
Juicy Excerpt: The rub is that our economic system requires growth to continue making life better for us all. If we were to rule out all change, those 6.5 percent annual stock gains would no longer exist. We need learning experiences to continue living well and we should be grateful that Shiller’s research promises to provide us with many of them. Sticking with the status quo is not always the prudent course of action. Change upsets the apple cart. But blocking change brings on different kinds of risks that often appear over the course of time. I believe that the changes promised (threatened?) by Shiller’s research are changes that we must embrace.
feed twitter twitter facebook