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]Power of hocus
Submitted by BigMoneyJim on Sat, 2007-12-22 13:11.
<p><div class="quote-msg"><div class="quote-author">Quote:</div>There is no question but that my attendance at the Vanguard Diehards meeting would have brought the Campaign of Terror to an immediate end.</div> <a href="http://www.s152957355.onlinehome.us/cgi-bin/yabb2/YaBB.pl?num=1198074692/96#96" class="bb-url">[link]</a></p>

