The essence of effective portfolio construction is the use of a large number of poorly correlated assets.
William J. BernsteinYou 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.
William J. BernsteinThe reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell.
William J. Bernstein