I’ve posted Entry #580 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Stock Investors Don’t Want to Know the True Safe Withdrawal Rate.
Juicy Excerpt: There’s recently been a development in the 19-year saga. One of the members of the ferociously abusive group that has defended the Greaney study for 19 years now acknowledged in a recent comment to my blog that he agrees that the study lacks a valuation adjustment. Until that comment, the only response that I have received from this group to my question as to where in the study the valuation adjustment is located, has been the demand that I “shut up.” I have not found that one terribly persuasive. So I was happy to see “Evidence-Based Investing” (the screen-name for the poster who offered the recent comment) acknowledge that I was right all along. In fact, Evidence went a step farther. He said that “nobody” truly believes that Greaney included a valuation adjustment in his study. This is so even of Greany, according to Evidence.
Problem solved! Right? Um– not quite.
feed twitter twitter facebook