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

No one in his right mind would walk into the cockpit of an airplane and try to fly it, or into an operating theater and open a belly. And yet they think nothing of managing their retirement assets. I've done all three, and I'm here to tell you that managing money is, in its most critical elements even more demanding than the first two.

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

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.

For the taxable investor, indexing means never having to say you're sorry.

Wall Street is littered with the bones of those who knew just what to do, but could not bring themselves to do it.

It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation (particularly if you're the lucky manager).