Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
What information do people not have that isn’t already posted somewhere on the internet? Why should you be able to post what you want wherever, yet you do not allow the same for others?
People should be hearing every day about the dangers of Get Rich Quick/Buy-and-Hold. Given that there’s 41 years of peer-reviewed research showing that market timing always works and is always required, people should be hearing the words “timing always works” AT LEAST as often as they hear the words “it’s possible that there might be circumstances in which timing might not work.” We all have a Get Rich Quick/Buy-and-Hold urge residing within us, If we are going to overcome that urge, we need to be reminded regularly how important it is to overcome it.
How well do you think people would do at losing weight if the Sugar Council banned all discussion of how gaining too much weight causes heart disease and diabetes? Humans have all sorts of weaknesses The only one that I know of where it is forbidden to try to help people cope with the weakness is the weakness we all have for Get Rich Quick/Buy-and-Hold investment strategies. People who hear about the dangers of going pure Get Rich Quick are often persuaded to follow more sensible strategies. Those who never even hear about the last 41 years of peer-reviewed research in this field are often not even aware of the risks they are taking on by failing to take price into consideration when buying stocks.
If we were permitting honest posting re the peer-reviewed research, we obviously wouldn’t have a CAPE value of 35.
Rob
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