Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Swedroe critical of other authors works
Old 05-01-2013, 10:14 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 6,260
Swedroe critical of other authors works

Larry takes a jab at the many doom/gloom books that pop up from time to time. Hope he does not have to sit on a panel with them in the future at an event.

Because of the nature of these books, the level of concern among investors goes up as they read them or hear their friends discuss them. This is especially true for those who have little to no training in finance and economics (which is true of most investors), so it’s important that we discuss the nature and value of these dire forecasts.
What most people fail to recognize is that many authors aren’t really in the information business. Instead, they are in the fame business. They know that you don’t get famous making “average” forecasts, just outlandish ones. For example, one of the more foolish books ever written was “Dow 36,000,” published in 1999 and written by journalist James Glassman and economist Kevin Hassett. It, along with such equally foolish books as demographer Harry Dent Jr.’s “The Roaring 2000s: Building The Wealth And Lifestyle You Desire In The Greatest Boom In History,” probably caused many readers to rush into stocks just as the bubble was about to burst.
Because bad news sells more than good, more often books are of the apocalypse variety.
Swedroe: Beware Of Investment Books

Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-01-2013, 10:32 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
Join Date: Jan 2008
Location: NC
Posts: 14,337
Good for Larry, and the others in "camp #1" (below) who routinely do the same.

I think there are (at least) two camps anyway, and Larry wouldn't be worried about sitting on a panel with "authors" from another camp.

I'd put Swedroe, Ferri, Bernstein, Burns, Bogle, Schultheis & the Boglehead authors in camp #1 - though I am sure I am missing other important sources. And I'd put most of the others in camp #2 etc. You can usually recognize them by the attention grabbing titles to their books, articles, etc. - oldest trick in the book and yet it still works like a charm. "Dow 36,000" (in 1999 with PE's already thru the roof) - puhleeeze. Same nonsense that has given us thousands of diet books that sell like hotcakes and don't work.

When I do see those in camp #1 sitting on panels or serving as counterpoint on talk shows (it does happen), the camp #1 folks seem to acquit themselves well and easily. Though that's probably a reflection of my own financial biases.

My 2 cents...

No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 45% equity funds / 30% bond funds / 25% cash - radically changed Nov 2018
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 05-01-2013, 10:40 AM   #3
Thinks s/he gets paid by the post
timo2's Avatar
Join Date: Jul 2011
Location: Bernalillo
Posts: 2,087
In the mid-1980's I read a doom and gloom book, whose name I can not remember except 'the coming whatever doom and gloom balony'. The predictions from the book never happened, but it did inspire me to buy some Krugerrands at about $380 dollars per ounce. So something good did come out of that stupid book, and I still have the Krugerrands.
"We live the lives we lead because of the thoughts we think" ...Michael O’Neill
"We can cannot compel others to do our will" ....Norman Goldman
"There never is shortage of the gullible to Accept the illogica"l...Anonymous
timo2 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

» Quick Links

All times are GMT -6. The time now is 01:47 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.