Companies Are Not Charitable Enterprises: They Hire

Even Fans Of Actively Managed Funds Often Concede That Most Other Investors Would Be Better Off In Index Funds. But Buoyed By Abundant Self-confidence, These Folks Aren't About To Give Up On Actively Managed Funds Themselves. A Tad Delusional? I Think So. Picking The Best-performing Funds Is 'like Trying To Predict The Dice Before You Roll Them Down The Craps Table,' Says An Investment Adviser In Boca Raton, Fl. 'i Can't Do It. The Public Can't Do It.'

There Is Something In People; You Might Even Call It A Little Bit Of A Gambling Instinct… I Tell People Investing Should Be Dull. It Shouldn't Be Exciting. Investing Should Be More Like Watching Paint Dry Or Watching Grass Grow. If You Want Excitement, Take $800 And Go To Las Vegas.

If We Made An Income Pyramid Out Of A Child's Blocks, With Each Layer Portraying $1,000 Of Income, The Peak Would Be Far Higher Than The Eiffel Tower, But Almost All Of Us Would Be Within A Yard Of The Ground.

Good Questions Outrank Easy Answers.

Thousands Of Important And Intelligent Men Have Never Been Able To Grasp The Principle Of Comparative Advantage Or Believe It Even After It Was Explained To Them