I will ask [John Bogle] why he has not done more to publicize what we have learned about the errors made in the Old School SWR studies (Bogle endorsed Bernstein's book, which reports accurarately that the SWR was at the time 2 percent, not 4 percent). I will also ask him why he urges investors to stick with the same stock allocation when valuation changes cause the risk profile of stocks to change dramatically. If he cites P/E1 (as he did when asked a question along these lines at this year's meeting), I will ask why he uses P/E1 despite its known flaws.
[link]Leader of The New School
<p><div class="quote-msg"><div class="quote-author">Quote:</div>Scott Burns spilled the beans re what is going on in his column from the summer of 2005 in which he said that the reason why we rarely hear the findings of "The New School of SWR Analysis (I am the leader of The New School, and Burns' column was written at my urging) is that "it is information most people don't want to hear."</div>
<a href="http://socialize.morningstar.com/NewSocialize/asp/FullConv.asp?forumId=F100000015&convId=185669&minReplySeq=51#replyTop" class="bb-url">LINK</a></p>