Diversification is your buddy.

Most people might just as well buy a share of the whole market, which pools all the information, than delude themselves into thinking they know something the market doesn't.

Everybody has some information. The function of the markets is to aggregate that information, evaluate it and get it incorporated into prices.

You only need to make one big score in finance to be a hero forever.

Junk bonds prove there's nothing magical in a Aaa bond rating.

I had some of the students in my finance class actually do some empirical work on capital structures, to see if we could find any obvious patterns in the data, but we couldn't see any.

Diversification is your buddy.