The patient that's on the floor with the cardiac arrest is not Wall Street. It's the American economy.
Warren BuffettThere is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.
Warren BuffettA single year's performance is of minor importance and, good or bad, should never be taken seriously.
Warren Buffett