The cost of performing well in bad times can be relative underperformance in good times.
Hold cash when opportunities are not presenting themselves.
Short sellers age in dog years.
The government can indefinitely control both short-term and long-term interest rates.
All an investor can do is follow a consistently disciplined and rigorous approach; over time the returns will come
We work really hard never to get confused with what we know from what we think or hope or wish.