. . . Any pension fund manager who doesn't have the vast majority-and I mean 70% or 80% … - Merton Miller

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This is the mark of a perfect character - to pass through each day as though it were the last, without agitation, without torpor, and without pretense.

Merton Miller

. . . Any pension fund manager who doesn't have the vast majority-and I mean 70% or 80% of his or her portfolio-in passive investments is guilty of malfeasance, nonfeasance or some other kind of bad feasance!

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To beat the market you'll have to invest serious bucks to dig up information no one else has yet.

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What counts is what you do with your money, not where it came from.

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If there's 10,000 people looking at the stocks and trying to pick winners, one in 10,000 is going to score, by chance alone, a great coup, and that's all that's going on. It's a game, it's a chance operation, and people think they are doing something purposeful. . . but they're really not.

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Diversification is your buddy.

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You only need to make one big score in finance to be a hero forever.

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