Forsake Search For Needles That Are So

It Is Not Easy To Get Rich In Las Vegas, At Churchill Downs, Or At The Local Merrill Lynch Office.

Still, I Figure We Shouldn't' Discourage Fans Of Actively Managed Funds. With All Their Buying And Selling, Active Investors Ensure The Market Is Reasonably Efficient. That Makes It Possible For The Rest Of Us To Do The Sensible Thing, Which Is To Index. Want To Join Me In This Parasitic Behavior? To Build A Well-diversified Portfolio, You Might Stash 70 Percent Of Your Stock Portfolio Into A Wilshire 5000-index Fund And The Remaining 30 Percent In An International-index Fund.

Economists Have Much To Be Humble About.

Marshall's Crime Is To Pretend To Handle Imperfect Competition With Tools Only Applicable To Perfect Competition.

Economics Has Never Been A Science - And It Is Even Less Now Than A Few Years Ago.