Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
“ I do wish you all the best that this life has to offer a person”
No you don’t. You call people names and make up stories about them (death threats, criminal acts, prison). Those are things said by someone with hate in their heart.
Not so.
I’ve done everything that I could to help you going back to the first day. I wrote to the site administrator at Motley Fool in June of 2002 asking that Greaney be given the boot. It was his job to do that. If he had done his job, you and the other Goons would not be in the mess you are in today. I have done my part. I cannot force people in positions of authority to do their job when there is a quick buck to be made by not doing it.
The Get Rich Quick urge resides within all of us. That’s the bottom line here. Overcome the Get Rich Quick urge (this is done by engaging in market timing when irrational exuberance threatens to get out of control) and we all live better lives from that point forward.
I don’t think it is possible to keep you out of prison today. Maybe it is. There has never before been a situation like this. So no one can say for certain. But my personal take is that it is no longer possible. But either way, I am 100 percent confident that the length of your prison term is going to depend on how many lives you end up destroying. So, the sooner come clean, the better you make out. And who has been advising you to come clean going back to the earliest days (when I COULD have kept you out of prison altogether)? Your one true friend in this world, the only community member who has done the best that he could for you going back to the earliest days.
I’ll always be there for you, Anonymous. But, if I say that I believe that the Greaney retirement study contains a valuation adjustment, I am committing financial fraud myself. Which is a crime. a felony. Which means prison time. Um — thanks but no thanks, you know?
Not this boy.
Rob
“ I don’t think it is possible to keep you out of prison today. ”
I don’t it is possible for you to have normal conversations on normal boards when you make looney comments like this. You deserve every banning.
Yeah, Yeah.
Rob
I think you know it isn’t normal, but you gotta has some kind of story, right?
The entire situation is 100 percent abnormal. But the things that I say are not just a story. They are all entirely real.
I pointed out the error in Greaney’s retirement study 20 years ago, on the morning of May 13, 2002. It hasn’t been corrected to this day. Why? It obviously benefits every living soul to have accurate numbers to use in retirement planning, right? The reason why it hasn’t been corrected is that, is as a society we permit Buy-and-Holders to correct the errors they made in their retirement studies, it is not going to stop there. The next thing you know we will be permitting honest, research-based discussions of asset allocation and honest research-based discussions of risk management and on and on. In not too much time, the entire Buy-and-Hold Model for understanding how stock investing works will have tumbled to the ground.
The entire model is rooted in error. Buy-and-Hold was developed prior to the time when Shiller published his Nobel-prize-winning research showing that valuations affect long-term returns and thereby discrediting the idea that the market is efficient. If the market were efficient, market timing would not be required and risk would be constant not variable and the safe withdrawal rate would be the same number at all times. If the people who developed Buy-and-Hold were putting it together today, they would make it a core principle that every investor must always, always, always practice market timing and all would be well.
But they didn’t get to develop it today, when all the research needed to get things right is available to us. They developed it at a time when the current thinking on market timing caused them to make a horrible mistake. And their position for 41 years now is that this horrible mistake must be covered up. So it is not possible to give sound advice on any question in the investment advice field without causing the Buy-and-Holders to go stark, raving nutso. What the last 41 years of peer-reviewed research teaches us all about how stock investing works is a very, very, very sensitive question.
The only way that I can think of to change that it to open every discussion board and blog on the internet to honest posting re the past 41 years of peer-reviewed research. Then we can all get comfortable with the reality that we once made a horrible mistake and fix it and move on together to a better place. Living in fear of you Goons gets us absolutely nowhere. That just compounds the problem. Because the longer the cover-up continues, the harder it becomes to overcome it.
So says this loony-tunes Rob Bennett fellow who obviously has forgotten to take his meds.
Rob