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.
William J. BernsteinYou 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.
William J. BernsteinIt's bad enough that you have to take market risk. Only a fool takes on the additional risk of doing yet more damage by failing to diversify properly with his or her nest egg. Avoid the problem-buy a well-run index fund and own the whole market.
William J. Bernstein