You Don't Want Too Much Fear In

In The 1920s, Wall Street Was A World That Was Really Dominated By Professional Speculators And Stock Pools. These People Had A Monopoly Over Information.

Mutual Funds Have Historically Offered Safety And Diversification. And They Spare You The Responsibility Of Picking Individual Stocks.

In Waiting For The Glorious Moment Of That First Book Contract, Writers Must Have Giant Reservoirs Of Patience. Yet They Must Persevere Because They Don't Know The Destiny That Is Being Worked Out For Them. They Creep Humbly Along The Ground, Without The Spacious Aerial Vision Of Their Lives That Would Show Them The Destiny In Store For Them.

Mutual Fund Managers Are Trapped In This Rather Deadly Vicious Circle: The More Successful They Are, The More Money Flows Into Their Mutual Fund. Then, It Is More Difficult For Them To Beat The Market Averages Or Even To Match Their Own Past Performance.

I Have Developed A Very Strong Partiality For The Dead: They Don't Talk Back, They Don't Sue, And They Don't Have Angry Relatives.