A friend to honesty and a foe to crime
The relationship between executive CEO pay, stock performance is tenuous and not easily unscrambled, just one of myriad factors that affect the price of a stock.
It's 1450 out of 1500 ETF funds that I just wouldn't touch because they're not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody.
On balance, the financial system subracts value from society
Managed funds are astonishingly tax-inefficient.
The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle.
While the apostles of the new so-called "behavioral" theory present ample evidence of how often human beings make irrational financial decisions, it remains to be seen whether these decisions lead to predictable errors that create systematic mispricings upon which rational investors can readily and economically capitalize.
History does not usually make real sense until long afterward.
I never get afraid of things. I only get excited.
Every silver lining has a cloud.
That's stupid. You couldn't pay me to go. I'm not oversimplifying it. That's what's going on. I don't think it would be any fun without the drugs. It's a drug party.