The surest way to find an actively managed fund that will have top-quartile returns is to look for a fund that has bottom-quartile expenses.

The surest way to find an actively managed fund that will have top-quartile returns is to look for a fund that has bottom-quartile expenses.

Historically, the stock market is like a gambling casino with the odds in your favor. Over the long pull, stocks are given something like nine and a half to ten percent compounded per year. The banks have probably given you something in the order of four to five.

It's not that stock prices are capricious. It's that the news is capricious.

Stupidity well packaged can sound like wisdom.

A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would do just as well as one carefully selected by experts.

Trust in time rather than timing.