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December 6, 1999

The only thing that’s certain is that after five years of almost uninterrupted prosperity, we’re in unchartered territory now. The future isn’t bullish, and it isn’t bearish. The future is a secret. Perhaps the best advice is: Don’t be too sure of anything.
Pat Regnier in "How High is Up?" from Money (12/99)

Even the most brilliant mathematical geniuses will never be able to tell us what the future holds. In the end, what matters is the quality of our decisions in the face of uncertainty.
Peter L. Bernstein in "Wimps and Consequences" from The Journal of Portfolio Management (Fall 1999)

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