We ignore outlooks and forecasts... we're lousy at it and we admit it ... everyone else is lousy too, but most people won't admit it.
Martin J. WhitmanDiversification is a surrogate - and a damn poor surrogate - for knowledge, elements of control, and priceconsciousness.
Martin J. WhitmanIn the financial world it tends to be misleading to state, "There is no free lunch." Rather the more meaningful comment is, "Somebody has to pay for lunch."
Martin J. WhitmanWe attracted a lot of market timers and asset allocators. I don't need those ... amateurs in my fund.
Martin J. Whitman