Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
There is no evidence of that. We would have seen how all the information pertaining to you had existed and then was removed in total. What we all know is that it is impossible to erase everything from the internet as information is archived.
We don’t disagree on the point you are making here.
Forget the stuff about me. Shiller’s freakin’ book is in public libraries all over the country. The title of the book tells the story that needs to be told — <i>Irrational Exuberance.</i> If irrational exuberance exists, not all stock gains are real. If irrational exuberance exists, people need to adjust for the effect of irrational exuberance when determining the value of their holdings.
The information is out there. But it doesn’t click with people unless they hear regularly and are able to ask questions about it and are able to absorb it over time. That’s what is missing. People need to talk about this stuff for it to have a practical effect and the Buy-and-Holders do not want to see that happen. When somebody says “the safe withdrawal rate is always 4 percent” and no one in the room objects, the people hearing those words thing “it must be so — I didn’t hear anyone object.” The normal thing would be for people who believe that Shiller’s Nobel-prize-winning research is legitimate research to reject. The cover-up lies in the suppression of those kinds of statements. For so long as those kinds of statements are suppressed, support for Valuation-Informed Indexing will not grow beyond the 10 percent of the population that today believes in it. The cover-up will come to an end when people are no longer afraid to say what they believe and the new way of understanding how stock investing works will begin to spread naturally and freely.
Rob
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