Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
“Stocks are extremely risky today. The CAPE value is just a notch below the level that brought on the Great Depression.”
You want other people, who currently own stocks, to sell you stocks at a price much lower than the current market price.
Those other people feel no desire to sell those stocks to you.
No matter how many articles you write that is unlikely to change.
You don’t seem to realize that if your cheap non volatile stocks ever did appear, the market would react by pouncing on those amazing investments and hence driving the price up.
The world you want to exist simply can’t happen.
If it did happen, you would be outbid by other investors eager to snap up those amazing bargains.
We disagree.
It’s in the interest of every investor for stocks to be priced properly. Every investor would work to see that that happened if only he were properly informed. The only thing missing today is that we need to open every site to honest posting re the peer-reviewed research for us all to become properly informed.
There was a time when the Buy-and-Holders argued that investors should look to the peer-reviewed research for guidance on how to invest. I think they got it right the first time!
Rob
Because all these millionaires and Billionaires that own the bulk of the stock are suddenly going to sell off all these shares because Rob Bennett doesn’t think they are valued properly and that the owe it to Rob Bennett and other market timers to sell the stock to them at a price that is more to the liking of Rob and the market timers. Got it.
It is just like me going over to my neighbor and telling him that his house is overpriced and that he has to agree to sell it to me for a price that i think is fairly priced.
“It’s in the interest of every investor for stocks to be priced properly”
The proper price for a stock is the market price that ensures a willing buyer and a willing seller.
Because all these millionaires and Billionaires that own the bulk of the stock are suddenly going to sell off all these shares because Rob Bennett doesn’t think they are valued properly and that the owe it to Rob Bennett and other market timers to sell the stock to them at a price that is more to the liking of Rob and the market timers. Got it.
It is just like me going over to my neighbor and telling him that his house is overpriced and that he has to agree to sell it to me for a price that i think is fairly priced.
I say that everyone should be permitted to hear both sides and make up his or her own mind.
Rob
“It’s in the interest of every investor for stocks to be priced properly”
The proper price for a stock is the market price that ensures a willing buyer and a willing seller.
What if there is an internet-wide prohibition on the discussion of important research? People need access to good information to be able to make sound decisions.
Do you believe that there is no such thing as overvaluation or undervaluation?
Do you believe that irrational exuberance even exists?
Why have peer-reviewed journals if we are not going to permit the product of peer-reviewed journals to be discussed?
Rob
People have the information and they have made up their minds. Thousands of us have read your posts and we don’t agree. Not a single person has signed up as a VII follower.
Letting you post the same nonsense over and over again won’t change a thing. If you opened up a burger joint and no one came in to buy your burgers, would you open up more burger joints thinking that you will get rich off of that? Would you expect a different outcome?
“Why have peer-reviewed journals if we are not going to permit the product of peer-reviewed journals to be discussed?”
They can be discussed. You have a reddit account, go to any of the investment sub reddits, post a link to a paper and explain why you think it means people should market time.
If my burger joint took off like a rocket, attracting thousands of enthusiastic follower, and then the owners of the burger joint that was popular before the new one came along engaged in criminal behavior to keep people from learning about the new burger joint, I would conclude that the fact that the owners of the old burger joint saw the new one as being such an incredible threat showed that the new burger joint had amazing potential. The behavior that we have seen from you Goons for 22 years now just ain’t normal.
My sincere take.
Rob
Your burger joint never took off. You never had one paying customer. You can’t even post a link to any owners of old burger joints engaging in any criminal behavior.
“Why have peer-reviewed journals if we are not going to permit the product of peer-reviewed journals to be discussed?”
They can be discussed. You have a reddit account, go to any of the investment sub reddits, post a link to a paper and explain why you think it means people should market time.
I have seen the same pattern play out when I do that over and over and over again. 10 percent of the population of the community is going to view Valuation-Informed Indexing as the greatest thing since sliced bread. 10 percent is going to feel like you Goons that it will be the end of the world if honest posting re the peer-reviewed research is permitted at even a single site. And 80 percent are going to be in the middle. That group will not oppose honest posting re the research. But they are not going to be willing to stand up to Goon posters who advance threats of physical violence. They will tolerate the tactics that the Buy-and-Hold Goons employ to suppress discussion of the research, giving those who are willing to resort to threats of physical violence an influence far greater than what their numbers along would suggest.
If we are as a nation of people going to advance in our understanding of how stock investing works, the Normals among us are going to need to work up the courage to call you Goons out on your nonsense. I believe that the onset of the next Buy-and-Hold Crisis and all the human misery that will come with it may help us as a nation of people to get to the place where deep in our hearts we all want to be. We’ll see,
Rob
You can end the whole debate right now on criminal acts. All you have to do is post a link to the actual criminal act. To the opposite, if you don’t, the only conclusion is that you lied.
Your burger joint never took off. You never had one paying customer. You can’t even post a link to any owners of old burger joints engaging in any criminal behavior.
That explains why you are still talking about this stuff 22 years after I advanced my famous post pointing out that the Greaney retirement study lacks a valuation adjustment. Makes sense!
Rob
You can end the whole debate right now on criminal acts. All you have to do is post a link to the actual criminal act. To the opposite, if you don’t, the only conclusion is that you lied.
And you can end the whole debate about whether the Greaney retirement study is analytically invalid by posting a link to the page of his study containing a valuation adjustment.
Rob