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.

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

There are two kinds of investors, be thay large or small: those who don't know where the market is headed, and those who don't know that they don't know.

99% of fund managers demonstrate no evidence of skill whatsoever.

The typical fund company services 401k plan participants in the same way that Baby Face Nelson serviced banks.

Do the math. Expect catastrophes. Whatever happens, stay the course.

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).