Good Quotes by Barry Ritholtz

Despite all the   media coverage, glitz and glam of hedge funds, they have not done well for   their investors. They have high - some say excessively high - fees; their   short- and long-term performance has been poor.

If you have read   me for any length of time, you know I am less than enthralled with much of   what passes for financial news.

One thing I detest   most about the financial press is the lack of accountability. All sorts of   nonsense is said without penalty.

Narrative drives   most of economics. Everything seems to be part of a story, and how that story   is told often leads to critical error.

Once you research   an idea, you begin to develop a perspective. Writing about anything in   public, often in real time, has helped fashion my views.

Secular cycles are   the long periods - as long as decades - that come to define each market era.   These cycles alternate between long-term bull and bear markets.


The data strongly   suggest that very good years in the U.S. stock market are followed by more   good years.

Investing is about   making probabilistic decisions with limited information about an unknowable   future. The variables are well known, as are the possible outcomes.

No one knows what   the top-performing asset class will be next year. Lacking this prescience,   your next-best solution is to own all of the classes and rebalance regularly.