Buy-and-Hold Goon to Rob: “If Buy and Holders Did Not Have Confidence, They Would Have Done Something Different.”

Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:

If buy and holders did not have confidence, they would have done something different.  It is obvious you spin a story to try and cover up the embarrassment of your failure.

And the do do something different. Every time. They tell themselves that the stock market is the only market that ever existed in which price discipline is not 100 percent required. Over that, that creates a mountain of irrational exuberance. Eventually, they lose confidence in the project and we have a long bear market that causes misery for millions.

Not this boy. I believe that the economic-based return of 6.5 percent real is <I>just fine.</I> I don’t see any need for irrational exuberance or bull markets or Get Rich Quick or Buy-and-Hold. None of that garbage. Stocks are good enough without adding the roller coaster ride feature that comes with failing to engage in valuation-based market timing.

Rob