Best Advice
Page 10 of 18
You can't reliably beat the market
William Bernstein. Author, "The Four Pillars of Investing"
"Over 90% of performance is due to noise," uttered over Chinese food by Clifford Asness. Superior manager returns are almost always the result of chance, not skill, and that trying to find the next great stock is a chump's game.
Take risks when you can
Chris Larsen. Founder, E-Loan.com and Prosper.com
Jim Collins, who wrote "Built to Last" and was a M.B.A. professor at Stanford taught his students to "Cut the lifeboats." He told students, "You're young. You can fail two or three times, even lose all your money two or three times, and you'll be just fine. Taking that risk puts you in the path of wealth."