If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes

All the time and effort people devote to picking the right fund, the hot hand, the great manager have, in most cases, led to no advantage.

In business, competition is never as healthy as total domination.

The S&P is up 343.8 percent for 10 years. That is a four-bagger. The general equity funds are up 283 percent. So it's getting worse, the deterioration by professionals is getting worse. The public would be better off in an index fund.

There's lots of stocks out there and all you need is a few of 'em. That's been my philosophy.

In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.

More money is lost anticipating the changes in the overall stock market than any other way of investing.