Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
I don’t understand your aversion to publishing your writing here. With the demise of your Value Walk column, which was your last remaining column elsewhere (you used to have others), your blog will now just consist of links to other posts (which were links to previous posts) starting with “Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:”
You claim to have written some article but you won’t post it here and use have never shared any juicy excerpts of the book that you have spent the better part of two decades on.
At least George RR Martin has published the occasional sample chapters from the Winds of Winter.
I appreciate the feedback, Evidence.
The primary purpose of the column was the learning experience it provided. I wrote over 700 columns and each time I wrote one I learned some tiny thing about the subject. I learned from writing the two columns that I did not submit. So they served their purpose.
I believe that there will come a day when we all will feel free to post honestly re the peer-reviewed research at every sit on the internet. In will be able to take advantage of the learning experiences that I enjoyed writing the column at that time. I won’t submit the columns as they were written the first time. But the learning experiences that I enjoyed will inform every word I wrote re these matters from the day on which I wrote those columns.
It’s the learning experiences that matter. most to me,.
Rob
You were still learning things after 700 articles? That means that you didn’t know what you are talking about and that you should be listening to the experts and not trying to give out uneducated advice.
I don’t agree.
It’s certainly so that the leaning curve evened out in the later years. But there was always more to learn. The last 44 years of peer-reviewed research revealed to us an undiscovered continent of stock investment realities. Shiller earned his Nobel prize many times over. I only wish that there would have been thousands of others enjoying the journey with me. i would have learned from them and they would have learned from me. To the benefit of everyone on the planet. Learning is the one true free lunch.
The “experts’ have failed us horribly re this matter. It’s not the things you don’t know that hurt you the most, it’s the things that you think you know for certain but that you don’t really understand well at all. The great irony is that it was the Buy-and-Holders who popularized the idea of making reference to the peer-reviewed research to learn about this subject. Can you imagine where we would be today if they had only listened to their own advice when new research was published showing that their initial guesswork re valuation-based market timing was as wrongheaded as anything can be wrongheaded?
it’s a lesson as old as time itself; the best thing to do when you discover that you have made a mistake is to fix the error and get on with your life, not to waste any time trying to cover up the error. Someone who does that become an expert in getting things wrong. I believe that we all have an obligation to help someone in those circumstances find their way to a better path, especially if there was a day when we considered the person a friend.
The “ides” that valuation-based market timing is not always 100 percent required will go down in history as the most harmful mistake ever made in the history of personal finaance. The error itself was a trivial thing compared to the 44 years of effort that went into the cover-up, which stopped thousands of other important investment-related insights from being developed. Too said.
My best wishes.
Rob
It doesn’t matter what you think. It matters what the readers think. They don’t agree with you. You just can’t accept it and move on.
The great irony of irrational exuberance is that, when it is most dangerous, people are in love with it. That’s just the nature of the beast.
I think we need to let people hear both sides of the story at all times. That way they can make up their own minds. I don’t see the investment advice field as just a way to turn quick buck by telling people what they want to hear. I believe that accuracy and honesty and integrity need to be s part of the story.
Rob
“ The great irony of irrational exuberance is that, when it is most dangerous, people are in love with it.”
Isn’t it the most dangerous situation to be broke in your 60’s, particularly with no job and a silly idea that people are someday going to hand you over settlement payments for absolutely not rationale reason? Meanwhile, many of us buy and holders have many millions in our accounts, along with revenue streams, paid off homes, etc.
Tell us again who is suffering from irrational exuberance.
You don’t make it a practice to adjust for irrational exuberance. So you have no way of knowing how much you have.
That’s the entire dispute.
Rob