Banned at Boglehead.com June 5, 2009Posted by shaferfinancial in Finance.
Tags: Alternative viewpoints not allowed on boglehead.com, censorship on large investing oriented blogs
As regular readers know, I routinely scan the web monitoring investment oriented blogs. I rarely post at them because of time constraints. I was communicating with someone who made some incredible claims about censorship on some of the large blogs that frankly I found not very convincing. So I tried a little experiment. I posted on boglehead.com. They banned me in three days.
Here is the link. I posted under jedifool:
The original post I responded too:
The reason for my post is that I pulled my money out of the market in September 17th 2008 after a few years of being a client with the publicly traded fund manager private client’s group. My client account manager called me yesterday and suggested that I come in and meet with the CEO, as she knows we have a personal relationship that predated my investing with the firm, and talk about getting my money invested back in the market. I am really thinking about investing on my own using a fund family like Vanguard after reading your book as well as a few chapters of David Swensen. I wondered if you, or someone on this site, would be willing to help me prepare (or guide me in the right direction) for creating a presentation to challenge the status quo on the true ROI/versus costs and risk associated with Actively Managed funds. I think it would be valuable to state the case with factual data. I will collect the facts and prepare the analysis and report, but I wanted to make sure I was moving in the right direction.
Any help, direction or similar publicly available documents you or other Bogleheads can provide would be greatly appreciated.
Ideally I would present the following:
1. Historical risk adjusted return performance of their actively managed funds vs an equivalent category low cost fund
2. Calculate the after-tax adjusted return comparison
3. Project the fee/performance impact over 30 years on net worth.
4. Any thing else that I am missing
My post that lead to my being eventually banned:
I'm curious, how did that broker do for your prior to your exit?
What made you decide to pull your money out of the market in Sept.?
Have you researched all strategies?
Have you considered other asset classes beyond stock and fixed interest rate index funds?
Have you read any of the critiques of EMT including Warren Buffett?
Have you looked at how the wealthy invest?
Are you sure you want to continue to be passive when it comes to your money?
If so, can you withstand large drawdowns emotionally?
Just curious because at this forum you really only get one viewpoint. It is full of "true believers" that can be considered to be totally wrong over the last 20 years.
But if you have looked at all the above and have decided on passive index investing [or passive index investing with asset allocation] you can't find a better place to learn about that strategy. Just do yourself a favor and don't buy into the ideology!
As to your broker/financial planner. Professional courtesy would mean at least offering a phone call to tell them why you are terminating the relationship.
Well if you read the full topic you will see that I was attacked on all levels. Eventually they banned me here:
I know who he is because I know his e-mail and IP address. Since he runs a "investment coaching" business, his statement above is only correct in the most narrow sense (he does not manage money, he only tells people what they should buy, undoubtedly including the purchase of whole life insurance for reasons we shall see in a moment) . Based on this, the moderators have concluded his primary purpose for posting here is either trolling or commercial solicitation and he has thus been banned.
BTW, "investment advice" is in quotes as he does not hold an RIA, CFP, CFA or any other financial professional designation or certification that I can determine, he is however licensed to sell life insurance. Unsurprisingly, the "value" of whole life insurance is featured prominently on his site and blog.
To bring this back to the original poster's situation, you can take this an example of just how far those who make a living raking off big chunks of the investments of others are willing to go to save their business model.
Now personally I don't care about being banned, but any reasonable person would conclude that the moderators are protecting their readers from ideas outside the realm of their ideology.
Note, I never brought up EIULs. I never linked to my site nor this blog. I never solicited in anyway. I never suggested the folks there were bad or uninformed or anything else. I only suggested that the poster consider becoming an active investor and look into other asset classes [you know I was thinking about real estate!]. And my snide remark about ideology and opposing viewpoints was ironically proven by my banning.
You know you can come to this blog for an opposing viewpoint to the herd. You know you will get the latest data [evidence] on investing here. You know I am open to opposing viewpoints presented rationally without acrimony. Sometimes I wonder if it is worth it to keep blogging against the tide. This provides evidence that people really do need to be able to hear alternative thinking on the subject of personal finance.