The Word On The Street
Is Heard By All, But Only A Few Listen

Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.

Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble

Games are won by players who focus on the playing field -- not by those whose eyes are glued to the scoreboard.

Wall street is the only place that people ride to in Rolls Royce to get advice from those who take the subway.

If past history was all that is needed to play the game of money, the richest people would be librarians.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.