Investment success accrues not so much to the brilliant as to the disciplined.

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

While it is probably a poor idea to own actively managed funds in general, it is truly a terrible idea to own them in taxable accounts... taxes are a drag on performance of up to 4 percentage points each year... many index funds allow your capital gains to grow largely undisturbed until you sell... For the taxable investor, indexing means never having to say you're sorry.

The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell.

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

If your broker or investment advisor is not familiar with the concept of standard deviation of returns, get a new one.

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.