“Lifetime Outcomes Are What Matter to Me.”

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 is more important: a) your opinion of the search, or b) outcomes?

Is it more important for you to try and get someone to believe all of your hocomania or is it more important for you to fix your current financial predicament?

Lifetime outcomes are what matter to me. I of course get it that irrational exuberance can temporarily cause investors to believe that their stock investments are performing better than they really are. But the deception hurts them in the end. We all would be better off if honest posting re the peer-reviewed research were permitted at every site,

Our only defense against irrational exuberance is valuation-based market timing, It is absolutely key. Valuation-based market timing is price discipline. No market can function without price discipline. Today’s market has become dysfunctional because of the widespread promotion of Buy-and-Hold strategies. Today’s CAPE level shows that as clearly as anything can be shown.

Do you consider today’s CAPE value an outcome? I do. It’s a horrible, horrible outcome made possible by the widespread promotion of the “idea” that valuation-based market timing is not always 100 percent required for every investor.

My sincere take.

Rob