11/29/2007 Add a comment
It's simple: You can't beat the market in the long run. If you think you can, you're wrong. My favorite financial writer, Michael Lewis (go read Liar's Poker!) profiles a reformed stockbroker in a great article in Portfolio Magazine. My favorite passage:
"If you put a thousand people in barrels and push them over Niagara Falls," one of them says, "some of them will survive. And if you take those guys and push them over again, some of them will survive. And they’ll write books about how to survive being pushed over Niagara Falls in a barrel."Yet another reason to carefully read and follow the classic investing text A Random Walk Down Wall Street and put your money in diversified index funds.