Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
Why doesn’t it bother you that you never say anything new? What you do can easily be replaced by a bot. Maybe it already has. Greaney suggested as much earlier this year. From now on you will be addressed as Rob-bot.
There’s no need to say anything new. The point that I have made repeatedly since the morning of May 13, 2002 — that we need to open every discussion board and blog to honest discussion of Shiller’s amazing Nobel-prize-winning research findings — is the most important public policy issue before our nation today. If irrational exuberance is a real thing, Shiller’s discovery of it is the most important advance in the history of personal finance.
The Buy-and-Holders do not account for irrational exuberance (they developed the Buy-and-Hold concept in the days before Shiller published his amazing research). That means that every calculation they have ever done has been in error (you can’t leave out an important factor and get any calculations right). Going from getting every calculation wrong to getting every calculation right is a big advance.
We have the opportunity before us for us all to begin living better and freer and richer lives just by working up the courage to say the words “I” and “Was” and “Wrong.” And. once the entire internet is opened to honest posting re the past 40 years of research, we will have thousands of people participating in the effort to build the first true research-based model for understanding how stock investing works.
If I am successful in my effort to open every site to honest posting re the last 40 years of research, I will have done more good for the world than I could have reasonably expected to accomplish in 50 lifetimes. So it is my intent just to keep my eyes on the prize. I repeat one point over and over and over again because it is a very, very, very important. Irrational exuberance exists. It is real. It is not possible to make any accurate statement about how stock investing works without coming to terms with Shiller’s Nobel-prize-winning findings.
My claim that we need to open every discussion board and blog on the internet to honest posting re the last 40 years of peer-reviewed research cannot repeated often enough. This one issue is more important than all other investment-related issues put together.
My sincere take.
And my best and warmest wishes to you.
Rob
feed twitter twitter facebook