Barry Ritholtz Quotes
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Amongst the financial Twitterati, the term 'muppets' has come to describe any client used and abused by some financial predator. I've adopted the term to describe portfolios that have been assembled for purposes other than serving the clients' best interests.
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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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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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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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Getting more and more of our news from the social network is having significant repercussions for markets - and your money.
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A well-designed 401(k) plan is an enormous competitive edge when recruiting and retaining employees.
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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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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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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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Salesmen always need something to sell.
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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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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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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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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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Any investment bought via credit always runs the risk of margin calls and, eventually, liquidation.
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Narrative drives most of economics. Everything seems to be part of a story, and how that story is told often leads to critical error.
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Truth be told, most financial television bores me. Two or more people discussing the latest economic trends or hot stocks is not especially entertaining.
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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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A hedge fund manager whose clients demand monthly performance reports has different needs than any individual investors with a 20-year time horizon. The needs of that long-term investor differ markedly from someone who is retiring in three years.
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Whenever I see a forecast written out to two decimal places, I cannot help but wonder if there is a misunderstanding of the limitations of the data, and an illusion of precision.
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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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Have a well-thought financial plan that is not dependent upon correctly guessing what will happen in the future.