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.

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

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

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.

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

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

A decade ago, I really did believe that the average investor could do it himself. I was wrong. I've come to the sad conclusion that only a tiny minority, at most one percent, are capable of pulling it off. Heck, if Helen Young Hayes, Robert Sanborn, Julian Robertson, and the nation's largest pension funds can't get it right, what chance does John Q. Investor have?