It Is Easier To Rationalize Than It

The Commission Of The Investment Sins Listed Above Is Not Limited To 'the Little Guy.' Huge Institutional Investors, Viewed As A Group, Have Long Underperformed The Unsophisticated Index-fund Investor Who Simply Sits Tight For Decades. A Major Reason Has Been Fees: Many Institutions Pay Substantial Sums To Consultants Who, In Turn, Recommend High-fee Managers. And That Is A Fool's Game.

If You Knew What Was Going To Happen In The Economy, You Still Wouldn't Necessarily Know What Was Going To Happen In The Stock Market.

You Can't Buy What Is Popular And Do Well.

First, Many In Wall Street - A Community In Which Quality Control Is Not Prized - Will Sell Investors Anything They Will Buy.

Opportunities Come Infrequently. When It Rains Gold, Put Out The Bucket, Not The Thimble.