Sublime

pioneer of modern portfolio theory

opinions until you’re blue in the face, but show me your balance sheet first. In a nutshell: start with about four or five good shares in the long term, diversify your investments across more shares for less risk and forget about short-term speculation. Five or six shares are optimal for diversification, as long as you invest in fairly diverse sect

“Assuming a fifty-year horizon, the second portfolio would have lost 63 percent of its potential returns to fees,” Mr. Bogle said. Think about that. A simple 2 percent in fees can cost you over half of your investment returns.

My training as an economist has been of help in one important way: It convinced me that the only information that is of value in a financial market is information that other people don’t have. This means that I don’t have to pay daily, or even monthly, attention to the stock market, since it tells me nothing about whether I should buy or sell. Henc

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Contrarian that I am, the format for this book is intentionally unorthodox as books on investing go these days. It is not about I lail Mary passes; it's about grinding out gains quarter after quarter, year after year. My kind of investing rests on three elements: character, goals, and experience.

Inside of three years, it appeared, Sam Bankman-Fried had created a business so valuable that his share of it implied that he was now the richest person in the world under the age of thirty. “When I first looked at the numbers, I was like, Can this really be true—can this guy really be worth twenty billion dollars?” said Chase Peterson-Withorn, who