Super Quotes By Barry Ritholtz

In New York, the   former lack of real competition allowed taxis to extract excessive charges,   regardless of the poor service.

The ability to   select stocks, manage them over time and know when to sell them is incredibly   difficult, even for professional fund managers.

Shopmas now begins   on Thanksgiving Day. Apparently, escaping the families you cannot stand to   spend another minute with on Thanksgiving Day to go buy them gifts is how   some Americans show their affection for one another. Weird.

It is important   for investors to understand what they do and don't know. Learn to recognize   that you cannot possibly know what is going to happen in the future, and any   investment plan that is dependent on accurately forecasting where markets   will be next year is doomed to failure.

Commissions add   up, taxes are a big drag, margin ain't cheap. A good accountant costs money   as well. The math on this one is obvious, yet investors often fail to   recognize it: Keep your costs low and your turnover lower, and you will win   in the end.

Have a   well-thought financial plan that is not dependent upon correctly guessing   what will happen in the future.

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If you are not   making any mistakes, you are being excessively risk-averse. Investing   involves risk, and that means you will occasionally be wrong. And although it   is okay to be wrong, it is not okay to stay wrong.

Outcome is simply   the final score: Who won the game; what numbers came up in a roll of the   dice; how high did a stock go. Outcome is the result, regardless of the   method used to achieve it. It is not controllable.

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Often, investors   will discover a manager after he's had a terrific run, usually when he lands   on a magazine cover somewhere. Invariably, funds swell up with new investor   money just before they revert to their long-term averages.