A failure to appreciate the subtleties of risk can be the undoing of your investment program. Chasing higher returns by responding to each day’s financial news is like trying to ride a bucking bronco--you go in circles and wind up in the dust.
"Mutual Funds: Pieces of the action" from Consumer Reports (March 2000)The Internet will change the way we live and the way we do business, but that does not guarantee investors will get rich by buying internet stocks. Airlines and autos changed the world too, but no one would content that they've been outstanding investments over time.
John J. Brennan in Brennan Urges Investors to Tune out Noise, Focus on Basics from In The Vanguard (Winter 2000)
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