People should not confuse accessing data and information with knowledge. People turn on CNBC or get on the Internet and they're overwhelmed with information. My guess is that they're confusing that with knowledge and they're thinking, "I now have access to all this data and information; therefore, I'm better equipped to make investment decisions." That's not necessarily true.
Gary Brinson in The Changing Face of Asset Management RR from Dow Jones Asset Management (5-6/99)Japan wasn't as good as we thought they were nine years ago, and they're probably not as bad as we think they are today. And we were not nearly as bad as we thought we were nine years ago, and it's quite possible that this absolutely perfect stock market - priced for perfection - isn't as good as many people think it is today . . . You know the unexpected always happens. This is a crazy world. Who knows what the next shock is going to be that will upset our market.
Burton Malkiel in an interview with CBS Marketwatch (6/1/99)The large print giveth, and the small print taketh away.
Tom Waits, Step Right Up
(Similar quote attributed to Anonymous by Forbes)
Submitted by Doug & Gina Stinson
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