“It Is Impossible for a Buy-and-Holder Ever to Get the Numbers Right”

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’s different about your emotions? It seems to keep you from finishing the book and then getting a job. If the emotions were as you say, why do I still have $6 million+?

If you think you have $6 million and you are a Buy-and-Holder, you don;t have $6 million. It is impossible for a Buy-and-Holder ever to get the numbers right. Buy-and-Holders do not adjust the numbers to reflect the effect of irratonal exuberance, which is a real thing (according to the last 41 years of peer-reviewed research).

All of us have somewhat different emotional reactions to life events as a result of having had different life experiences. My life experiences have led me to believe that it is important for millions of middle-class investors to have access to honest and accurate and resarch-based reports on how stock investing works. The intense hostility direted at my from the Goon segment of the Buy-and-Hold community (about 10 percent of the overall population of Buy-and-Holders) has caused me anguis because it has affected my ability to earn a living for 20 years now.

I don’t think that that’s at all unusual. I think that just about anyone would feel those same feelings of anguish. The thing that is different with me is the strong conviction that someone has to do something to see that the entire internet is opened to honest posting re the last 41 years of peer-reviewed research. There are a good number of others who think that that would be a good thing, But I don’t know of anyone else who feels strongly enough about it to endure the sorts of personal abusse that I have taken on. I think that just goes to my personal life experiences. I chose journalism as a career because I see value in people coming to understand the world around them. My belief that honest posting on the research should be permitted in the investing advice realm is just a paticular manifestation of that general perspective that coming to an understanding of the world around one is a positive.

My best wishes to you.

Rob