Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
And you have been told 10’s of thousands of times that there no error as the study did not require that. It is a retrospective study.
It is surprising that any board owner would let you post the same thing hundreds of times. Thousands of times is abusive. 10’s of thousands is a whole new level of horrible behavior and there was obviously no choice but to finally ban you since you refuse to have a normal discussion.
Greaney said that the study revealed the safe withdrawal rate. To determine what is safe, you need to look at the factors determining safety. Greaney ignoed the most important factor — the valuation level that applies on the day the retirement begins.
All that can be determined from a retrospective study that ignores the key factor affecting safety is the SURVIVING withdrawal rate. That’s what Greaney’s study reveals.
He should have corrected his study within 24 hours of becoming aware of the error he made in it. Had he done that, we would as a nation of people today be 22 years further along in our development of the Valuation-Informed Indexing concept and we would all be living fuller and freer and richer and better lives today as a result.
I recommended that we open every site on the internet to honest posting from the first day. Once we got the Greaney study corrected, it was my intention to take the discussion to every site on the internet and determine what it is within us that makes us want to deceive ourselves as to how stock investing works. Why has we for so long permitted our Get Rich Quick/Buy-and-Hold impulse to cause us so much financial harm.
Reading in the Get Rich Quick/Buy-and-Hold impulse that resides within each and every one of us is the future of investment analysis.
Or so Rob Bennett sincerely believes, you know?
My best wishes.
Rob
If Greaney was wrong and refused to correct himself then by now he’d be known, if at all, as one of many cranks. Even Robert Kiyosaki is known as a crank. Sure, he has fans but so do other cranks. In the case of Bennett vs Greaney, the results over time tell the story. If you were successful and Greaney a failure then your reputation would have been redeemed and you might actually have fans. Instead what few allies you had moved on after realizing that you’re incorrect. Now you sit alone, quite literally, as you carry on your crusade against rational investing.
There is not one person who moved along because he or she concluded that I was incorrect. People moved along because you Goons disrupted the conversations that they were trying to have with me and with others who believe that Shiller’s Nobel-prize-winning research is legitimate research. Faced with the abusive and in some cases criminal behavior of you Goons, most people conclude that it’s just not worth it to challenge the now-dominant model, Buy-and-Hold.
I believe that the old model has been discredited by the new peer-reviewed research and needs to be challenged. I don’t see opening the internet to honest posting re the recent research as one possible option, I see it as being absolutely imperative. If as a nation of people we close ourselves off to discussion of new research findings, we are closing ourselves off to discovering mistakes made in earlier research. That’s a catastrophic choice in a field as important as this one.
I am fine with people following Buy-and-Hold strategies. That’s a personal choice. I am not fine with people engaging in abusive and criminal behavior to shut down discussions about new research. Once that happens, the discussions being held lack integrity. It only takes a quick look at the insanely dangerous CAPE value that applies today to see how important it is that honest discussions of the peer-reviewed research be permitted at every site on the internet, without a single exception.
That’s where I’m coming from re this one, in any event.
My best wishes to you.
Rob
You must be right about everything because you have $500 million in the bank, your website is loading with hundreds of thousands of fans, your book is #1 on the New York Times best sellers list and you are the most sought after speaker at every major investment conference………………..or, you are having trouble facing reality.
I can’t help it if I’m lucky, Anonymous. Whachagonnado?
Rob
How are you lucky? You lost everything.
Oh, sure. Look at the dark side.
Just like a Goon!
Rob
What bright side is there? You are broke, you no longer have a home and your wife left you. How worse can it get for a guy well over 60 years old?
The Braves could catch the Phillies in the NL East. That would not make me happy.
Rob