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 do not intend to write fresh material.”
When did you ever write fresh material? I have never seen anything new.
Valuations affect long-term returns. That’s the story. It’s a pretty darn simple message.
But it’s important. Say that that the alcoholic beverage industry got control of all the driving schools and put out a message that the key to safe driving is always to drink six beers before getting behind the wheel. That would be a catastrophe equal to the catastrophe that we have seen in the investment advice field with this garbage about how there might be some alternate universe in which valuation-based market timing might not be 100 percent required for every investor.
Say that that the alcoholic beverage industry con men didn’t want to acknowledge their mistake. They might say that the explanation for the millions of deaths that they caused is that six beers isn’t really enough, that people need to drink a minimum of eight beers before they can drive a car safely. And on and on like that.
When you make a mistake this big, the best thing to do is to acknowledge it and move on. Covering it up just makes things worse.
My sincere take.
Rob
You are broke and divorced. Using your analogy, you have been drinking several cases of beer every day for the last 20+ years.
And all of it is due to abusive behavior of Buy-and-Holders. If Buy-and-Hold were a real thing, there never would have been a single abusive post. If Buy-and-Hold were a real thing, every Buy-and-Holder would welcome challenges to it because responding to the challenges would permit them to sharpen their understanding of it.
What does it say about Buy-and-Hold that I am broke and divorced? It sure doesn’t say anything good.
Rob
Disagreeing with you is not abusive. It is also hypocritical of you to ban posts, yet expect people to let you post endlessly on their websites.
Okay, Anonymous.
My best and warmest wishes to you and yours, in any event.
Rob
And, of course, you don’t think any of your problems are due to you refusing to work a job and earn an income for the last 25 years
I am working the most important job there is and in a highly lucrative field. The abusive posting of you Goons and the tolerance of that abusive posting by many Normals has held me back from being compensated for that work for a long time. It’s hard for me to imagine that the way to solve that problem is for me to pretend that I see a valuation adjustment in the Greaney study afterall. It’s that sort of behavior that is the cause of the problem. So In do just the opposite — I say clearly that I believe that the Greaney study lacks a valuation adjustment whenever the subject of safe withdrawal rates turns up in discussions held on the internet.
Does that help?
Rob
No, you don’t have a job. That is the primary problem of your financial debacle. Instead, you pretend like you are on some kind of important mission when it is just a cover story for you sitting around on your backside.
Sitting on my backside saying that it is my sincere belief that the Greaney retirement study lacks a valuation adjustment. How could that be important and highly lucrative work?
Surely if the study truly lacked a valuation adjustment that would have been pointed out a long timr ago be everyone who works in this field.
Right?
Rob
You left out the part about sitting on your backside and ignoring that thousands have already answered and addressed your comment on Greaney. Even Wade Pfau wrote a whole article explaining how you are not telling the real story about your interactions with Greaney………so, yes, you have just been sitting on your backside for 25 years, not earning a dime, while leaving your wife (now ex-wife) to work multiple jobs.
We’ll have to wait to see how it all plays out, Anonymous. I naturally wish you all the best of luck with it.
Rob
It has been 25 years. We have all seen in play out. We are in our retirement years, so you either have the retirement funds or you don’t.
I would say that the Greaney retirement study either has a valuation adjustment or it doesn’t.
Rob