Mutual fund manager performance does not persist and the return of stock picking is zero.

All the things that make us human make us terrible investors and you have to understand what they are and how to avoid them.

It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation (particularly if you're the lucky manager).

The essence of effective portfolio construction is the use of a large number of poorly correlated assets.

The typical fund company services 401k plan participants in the same way that Baby Face Nelson serviced banks.

You have to ask yourself, what are the things that matter to you most in your life? If you have to have a latte every day that'snice to have right now, but if you take that latte every day right now, you may wind up eating cat food when you are 70. And you have to decide which is worse.

When it comes to fund managers and market strategists, this year's hero usually turns into next year's zero.