There are two kinds of investors, be they large or small: those who don't know where the market is headed and those who don't know what they don't know. Then again, there is a third type of investor: the investment professional, who indeed knows he doesn't know, but whose livelihood depends upon appearing to know.

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

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.

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

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

The key thing about any fund is to make sure its expenses are low. You know, if you look at the funds in your plan and you see that they're all charging 1.5 and 2 percent,you've gota bad plan.

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