Can Buy-and-Hold and Valuation-Informed Indexing Co-Exist?

1. Buy-and-Holders see the idea that market timing is a good thing (if irrational exuberance is a real thing, we need to fight it and the only way to do it is through market timing) as too much of a threat to their world view.
2. The higher number of people speaking up for Shiller’s ideas will help even more to work up the courage to express doubts about the dogmas of today re which they have long bit their tongue.
3. People believe that market timing doesn’t work because other people believe that market timing doesn’t work.