“For as long as I can remember, compound interest has been at the center of my own investment thinking.” – John Bogle

“You cannot manage outcomes, you can only manage risks.” – Peter Bernstein Last week Josh Brown laid out a really unique theory at The Reformed Broker with The Relentless Bid, Explained. The main takeaway from that piece is that there always seem to be a bid under the market when stocks drop because the investment advice…

“When a mood of excitement pervades a market or surrounds an investment prospect, when there is a claim of unique opportunity based on special foresight, all sensible people should circle the wagons; it is time for caution.” – Galbraith

A few weeks ago I read an article that made the bold claim that passive investing would be free within 5 years.

“This is just another of an endless series of experiences over time that have demonstrated that the future of security prices is never predictable.” – Benjamin Graham Some high profile talking heads in the investment industry have been making the case that past averages of profit margins, earnings, P/E ratios and other valuation tools suggest…

“We have no control over outcomes, but we can control the process. Of course, outcomes matter, but by focusing our attention on process we maximize our chances of good outcomes.” – Michael Mauboussin Barry Ritholtz wrote a great column for the Washington Post recently on an important topic that investors must understand to be successful…

“You can’t predict. You can prepare.” – Howard Marks I received a decent amount of comments and questions on my recent post on the 60/40 portfolio. Some were constructive, but others missed the point so I thought I would take the time to clarify a few things. These are my thoughts on using historical data to…

“Money is not the most important thing in the world. Love is. Fortunately, I love money.” – Jackie Mason

“If you can’t explain it simply, you don’t understand it well enough.” -Albert Einstein I feel that one of the greatest signs of intelligence is the ability to explain complex topics in a plain and simple manner that people can understand. This is what makes Warren Buffett such a genius. That’s not to say that…

“Scale coupled with automation can basically bring costs down to zero.” – Herbert Moore Two articles grabbed my attention this week that highlight the fact that things continue to improve for individual investors, specifically on the cost front. The first one came from Larry Swedroe on Seeking Alpha.  Swedroe reviewed a recent academic study on…