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

You have to understand your own psychology. You have to understand that human beings weren't really designed to invest. We have all these emotions that are appropriate responses if you're being chased by a tiger, but they're terrible responses if you've got a 30-year time horizon to think about investment or when you're trying to manage investment over 30 years.

The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.

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

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

The essence of effective portfolio construction is the use of a large number of poorly correlated assets.

Bluntly put, there's no chance that your doctor, dentist, or attorney is a high-school dropout. Your stockbroker, however, just might be.