A Bull Market Is Like Sex. It

Forecasts May Tell You A Great Deal About The Forecaster; They Tell You Nothing About The Future.

Stocks Of Companies Selling Commodity-like Products Should Come With A Warning Label: "competition May Prove Hazardous To Human Wealth".

Is Management Candid With The Shareholders?

That Which Is Not Worth Doing At All Is Not Worth Doing Well.

The Optimum Portfolio Depends On The Various Expectations Of Choices Available And The Degree Of Variance In Performance Which Is Tolerable. The Greater The Number Of Selections, The Less Will Be The Average Year-to-year Variation In Actual Versus Expected Results. Also, The Lower Will Be The Expected Results, Assuming Different Choices Have Different Expectations Of Performance.