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I was getting sick and tired of being lectured by dear friends with their little bottles of water and their regular visits to the gym. All of a sudden, we've got this voluntary prohibition that has to do with health and fitness. I'm not really in favor of health and fitness.

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William J. Bernstein

The typical fund company services 401k plan participants in the same way that Baby Face Nelson serviced banks.

Baby, Face, Fund, Investing, Typical
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Bluntly put, there's no chance that your doctor, dentist, or attorney is a high-school dropout. Your stockbroker, however, just might be.

Chance, Doctors, Dropout, Might, School, Stockbroker

The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.

Investing, Purpose, Return, Simply

There are two kinds of investors, be they large or small: those who don't know where the market is headed and those who don't know what they don't know. Then again, there is a third type of investor: the investment professional, who indeed knows he doesn't know, but whose livelihood depends upon appearing to know.

Depends, Investment, Investor, Kind, Know, Two

The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell.

Charlatan, Charlatans, Guru, Hard, Reason

You have to understand your own psychology. You have to understand that human beings weren't really designed to invest. We have all these emotions that are appropriate responses if you're being chased by a tiger, but they're terrible responses if you've got a 30-year time horizon to think about investment or when you're trying to manage investment over 30 years.

Human, Investment, Psychology, Thinking, Years
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