Bluntly put, there's no chance that your doctor, dentist, or attorney is a high-school dropout. Your stockbroker, however, just might be.

The deeper one delves, the worse things look for actively managed funds.

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

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

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.

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