I Don't Care Very Much

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.

The Sad Truth Is That It Is Precisely Those Who Disagree Most With The Hypothesis Of Efficient Market Pricing Of Stocks, Those Who Pooh-pooh Beta Analysis And All That, Who Are Least Able To Understand The Analysis Needed To Test That Hypothesis.

Mea Culpa, Mea Culpa. Mit And Wharton And University Of Chicago Created The Financial Engineering Instruments, Which, Like Samson And Delilah, Blinded Every Ceo. They Didn't Realize The Kind Of Leverage They Were Doing And They Didn't Understand When They Were Really Creating A Real Profit Or A Fictitious One.

Every Good Cause Is Worth Some Inefficiency.

It Isn't That Greed's Increased. What's Increased Is The Realization That You've Got A Free Field To Reach Out For What You'd Like To Do.