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.

I should mention that I am a member of the board of directors of Dimensional Fund Advisors.

What counts is what you do with your money, not where it came from.

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

If there's 10,000 people looking at the stocks and trying to pick winners, one in 10,000 is going to score, by chance alone, a great coup, and that's all that's going on. It's a game, it's a chance operation, and people think they are doing something purposeful... but they're really not.

As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a company that was advising customers about portfolio decisions, writing reports.