Saturday, February 12, 2011

Don't Fool Yourself

The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk"There are two kinds of investors, be they large or small: those who don't know where the market is headed, and those who don't know that they don't know. Then again, there is a third type of investor - the investment professional, who indeed knows that he or she doesn't know, but whose livelihood depends upon appearing to know."

William Bernstein - The Intelligent Asset Allocator, 2001