Barry Ritholtz Quotes
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The simple reality of life is that everyone is wrong on a regular basis. By confronting these inevitable errors, you allow yourself to make corrections before it is too late.
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You can blow on the dice all you want, but whether they come up 'seven' is still a function of random luck.
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Active management leads to lots of poor investor behavior. It sends people chasing after whoever has the hot hand at the moment.
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Many hedge fund managers have become billionaires; perhaps this - plus their reputations as the smartest guys in the room - is why they have captured the investing public's imagination.
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Despite all the media coverage, glitz and glam of hedge funds, they have not done well for their investors. They have high - some say excessively high - fees; their short- and long-term performance has been poor.
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A well-designed 401(k) plan is an enormous competitive edge when recruiting and retaining employees.
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Footage of people camped out at Best Buy or elsewhere is not remotely a celebration. Rather, it's a reminder of just how economically distressed a large percentage of our populace is.
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It is in your DNA to love a good story. You know, neat tales with heroes and villains and conflicts to resolve. A good story pushes our buttons, is exciting and memorable.
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People who work in specialized fields seem to have their own language. Practitioners develop a shorthand to communicate among themselves. The jargon can almost sound like a foreign language.
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Mutual fund managers want your money in their funds. They get paid based on assets under management.
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Salesmen always need something to sell.
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If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.
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You want less of the annoying nonsense that interferes with your portfolios and more of the significant data that allow you to become a less distracted, more purposeful investor.
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Getting more and more of our news from the social network is having significant repercussions for markets - and your money.
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If you have read me for any length of time, you know I am less than enthralled with much of what passes for financial news.
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Based on a lifetime of observations and a few decades in the markets, I understand that societies, beliefs and fashions all move in long arcs of time. We call these arcs several things: cycles, periods, eras.
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The ability to select stocks, manage them over time and know when to sell them is incredibly difficult, even for professional fund managers.
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Any investment bought via credit always runs the risk of margin calls and, eventually, liquidation.
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If your investing approach requires that you become Nostradamus to succeed, then you are destined to fail.
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When markets are rallying, cash in the portfolio is a drag on performance, returning about zero.
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If you think too-big-to-fail banks are not worthy of investment because of their impossible-to-read balance sheets, well then, don't buy them.
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The electronics industry expanded rapidly and the seeds for the semiconductor and software revolution were planted. The postwar period also saw the suburbanization of America, the rise of the homeowner, the build-out of the interstate highway system, and the rise of automobile culture. Credit availability expanded dramatically.
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Owning a variety of asset classes means that some part of your portfolio will be doing well when the cyclical turmoil arises. A broadly diversified portfolio includes large capitalization stocks, small cap, emerging markets, fixed income, real estate and commodities.
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It is important for investors to understand what they do and don't know. Learn to recognize that you cannot possibly know what is going to happen in the future, and any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.