Buy-and-Hold Goon to Rob: “You Have Lost All Sense of Reality.” Rob’s Response: “Today’s CAPE Value Shows Us That Stock Investors Have Lost All Sense of Reality.”

Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:

Like I said, you have lost all sense of reality.

Today’s CAPE value shows us that stock investors have lost all sense of reality. What if we permitted honest posting re the last 41 years of peer-reviewed research at every site? Would that change things?

I believe that it would. Shiller’s Nobel-prize-winning research revealed a critically important reality (that valuations affect long-term returns) that the people who developed Buy-and-Hold in the 1960s did not know about because it was widely believed at the time that the market is efficient and that this market timing was not required for the market to continue to function properly.

My best wishes.

Rob