In the Modern Age, there are still those who refuse to contradict a single word of the Bible, even though the Bible contradicts itself.

What to do when the market goes down? Read the opinions of the investment gurus who are quoted in the WSJ. And, as you read, laugh. We all know that the pundits can't predict short-term market movements. Yet there they are, desperately trying to sound intelligent when they really haven't got a clue.

I am a huge, huge, huge fan of index funds. They are the investor’s best friend and Wall Street’s worst nightmare.

In the Modern Age, there are still those who refuse to contradict a single word of the Bible, even though the Bible contradicts itself.

Most investors are pretty smart. Yet most investors also remain heavily invested in actively managed stock funds. This is puzzling. The temptation, of course, is to dismiss these folks as ignorant fools. But I suspect these folks know the odds are stacked against them, and yet they are more than happy to take their chances.

It's one of the ironies of investing. The rich can afford to take risks, but they don't need to. The poor need to take risks, but they often can't afford to.

If you want to see the greatest threat to your financial future, go home and take a look in the mirror.