Welcome

It's [the market's] not efficient at every level, but for practical investment purposes of almost everybody I can think of, including myself, it is efficient. Eugene F. Fama

The idea that a bell rings to signal when investors should get into or out of the stock market is simply not credible. … Yet market timing appears to be increasingly embraced. John Bogle

For obvious reasons it is impossible for investors as a whole, and therefore the average investor or speculator, to do better than the general market. The reason is that you are the general market and you can't do better than yourselves. Benjamin Graham

The only way to sensibly deal with markets is to have a thoughtful long-term plan, and thoughtful long-term plans don’t involve radical moves, and certainly not selling things that have gone down. David F. Swensen

I’d like to bring the "no" back into mutual-fund innovation. It’s been an expensive drag on society and all it has resulted in is a smaller return for investors. Mark me down as an ancient Luddite, but speculation is a loser’s game.     John Bogle

If I have noticed anything over these sixty years on Wall Street, it is that people do not succeed in forecasting what's going to happen to the stock market. Benjamin Graham

The plain truth is that most investors miss out on potential profits because they believe they can outthink the market when all evidence says they can't. Gary Belsky and Thomas Gilovich

Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful. Warren Buffett

Can you manage yourself in a bubble, and can you manage yourself on the other side? It's very easy to say yes when you haven't been there. But it's very hot in that oven.     Peter Bernstein

It is difficult to systematically beat the market. But it is not difficult to systematically throw money down a rat hole by generating commissions. Michael Jensen

While you can't control capital markets, you can control how you approach them — through asset allocation, diversification, trading efficiency, and tax management. David Butler

In my nearly fifty years of experience in Wall Street I've found that I know less and less about what the stock market is going to do but I know more and more about what investors ought to do ... to maintain at all times some division of his funds between bonds and stocks. Benjamin Graham