Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
Everybody else is wrong and only Rob Bennett is right. Poor Rob is the victim of a mass conspiracy.
Shiller’s book is offered in libraries all across the nation. We are close.
There are reasons why we have laws against the behavior we have seen from you Goons. That sort of stuff scares people. I believe that in the days and years following the onset of the next Buy-and-Hold Crisis, we will work up the courage we need to get past you.
We’ll see, you know? I think we are a good people.
Rob
I read Shiller’s book. It doesn’t say anything about market timing. It doesn’t say anything about Greaney’s study. It doesn’t say anything about broken laws. It doesn’t say anything about getting a $500 million windfall. Same goes for every publication by Wade Pfau. It seems that only Rob Bennett says these things. Hhhhhmmmmmmmmm……..
Do you happen to recall the title of Shiller’s book?
Rob
Yes. It seems like an appropriate title for people that are expecting $500 windfalls for doing nothing.
Okay, Anonymous.
My best and warmest wishes to you and yours, in any event.
Rob
So you only read titles, but not the content of the books. Got it.
The title tells the story, Anonymous.
I’m in favor of going far beyond that. I’m in favor of opening every site to honest posting re the peer-reviewed research. Once we do that, we will be creating a mountain of powerful investment advice insights every day.It’ll be like having a new book every day. I’m all for it.
But the title tells the story in a clear, concise way. If irrational exuberance is a real thing, the safe withdrawal rate cannot possibly be the same number at all times. It’s got to be a lot lower at times when irrational exuberance is out of control than it is when irrational exuberance is at reasonable levels. I think it’s a real thing.
Rob