“We should try to find value among the knowable – industries, companies and securities – rather than base our decisions on what we expect from the less-knowable macro world of economics and broad market performance.” – Howard Marks Being a decent investor is fairly easy. You invest in low cost, highly diversified index funds, set…

“If you know how to spend less than you get, you have the philosopher’s stone.” – Benjamin Franklin

“We will learn an enormous amount in the short term, quite a bit in the medium term and absolutely nothing in the long term. That would be the historical precedent.” – Jeremy Grantham (1) A bat and a ball together cost $1.10 in total. The bat costs a dollar more than the ball. How much…

“The goal of the advisor shouldn’t be to beat the market by picking stocks or winning funds. Advisors add value by providing the discipline required for successful investing. They add value in areas like tax efficiency, risk management, estate planning and retirement planning.” – John Bogle Investors on Wall Street are obsessed with beating the…

One of the prevailing theories on the sad state of affairs of the retirement statistics in this country is that our employers have failed us. The line of thinking goes like this: Employers used to provide the majority of workers with pension income for retirement as thanks for being a loyal employee.  Since pensions have…

“The question of whether we’re due a market correction next week or next month doesn’t matter because we have a plan that accounts for the possibility that it will happen someday.” – Carl Richards

“The more that you read, the more things you’ll know. The more that you learn, the more places you’ll go.” – Dr. Suess I’m constantly reading and I tend to come across interesting information about the financial markets, businesses and the economy.  So I thought I would start collecting some of the most interesting little…

“You don’t need to look at the prices of the stocks you own from week-to-week, or month-to-month, or even year-to-year.  If you own a cross-section of American businesses, and you don’t get excited (and buy) just at the very top, and if you buy in over time, you are going to do well.” – Warren…

“Reduce decision making. Think about the routine things that can be made automatic—from what you eat for lunch to where you live.” – Dr. Michael Joyner Personal finance people love to compare losing weight and getting your financial house in order. It’s the go-to personal finance analogy and I’ve heard it hundreds of times. It…

“Projections tend to cluster around historic norms and call for only small changes…The point is, people usually expect the future to be like the past and underestimate the potential for change.” – Howard Marks In the past cycles, new stock market highs would usually be greeted with excitement and exuberance. But the experience of having…