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

There are two kinds of investors, be thay large or small: those who don't know where the market is headed, and those who don't know that they don't know.

You have to understand what market history looks like. What market history tells you is that the very, very best investments are made when things look the worst.

The definition of investment is the deferring ofpresent consumption for future consumption. So, you dohave to be willing to defer. And there are a couple of tricks that you can use to save money. One of them is simply to pay yourself first.

Market risk is like taking a plunge into a cool pool ... a lot of people are finding out right now what their risk tolerance is.

There are two kinds of investors, be they large or small: those who don't know where the market is headed and those who don't know what they don't know. Then again, there is a third type of investor: the investment professional, who indeed knows he doesn't know, but whose livelihood depends upon appearing to know.

The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.