I’ve posted Entry #715 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called There Is No Rational Case to Be Made for Buy-and-Hold.
Juicy Excerpt: There’s no rational case that can be made for Buy-and-Hold. I think that that’s the primary reason why the people who developed and promoted the strategy have been so reluctant to acknowledge their error in the 43 years since it was revealed by peer-reviewed research. These people place a great deal of value on rationality, and it blows their minds for them to think of themselves as having made such a basic and terrible mistake.
Silly me. I have been a big buy and hold supporter for years because I thought the goal was to have more money/a financially secure retiremennt. Instead, the new goal is to be broke like Rob Bennett. With this new goal, i guess buy and hold is a bad thing because you left with having to deal with a large net worth.
If you got an important number wrong in a retirement study posted at your web site, would you want your friends to bring the matter to your attention or would you prefer that they just keep it zipped so that more people could be taken in by the phony numbers?
Rob
My number is so wrong that I have $8 million, instead of $0 like you. Woe is me. How will I deal with having all these pesky dollars? I got forced into this situation by my family because they like to eat, buy clothes, have a house and go on vacations. Instead, my family should only care about Rob Bennett being able to post all of his hocomania rantings on any internet website that is out there. Afterall, that is the most important thing in the world.
I feel like I did the right thing. I am ashamed that it took me three years to work up the courage to do it.
Rob
You should be ashamed that you failed to provide financially for your wife and kids. You should be ashamed for all the lies you post on this board every day.
I feel bad about the financial hits my loved ones have taken because of the abusive and in some cases criminal behavior of the Buy-and-Hold goon squads. But how is this situation ever going to change if some of the millions of us who believe that Shiller’s Nobel-prize-winning research is legitimate research don’t work up the courage to speak up? I see this as a pretty darm important piece of journalism business.
Today’s CAPE value is 37. Do you find that acceptable? If you find it unacceptable, as I hope you do, how do you propose that we change it other than by opening every discussion board and blog to honest posting re the peer-reviewed research? I see that as being absolutely basic and absolutely essential. If we are not going to permit honest posting re the peer-reviewed research, we should just shut down all of the peer-reviewed journals.
Rob