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And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

Barry Ritholtz

Rather than engage in the sort of selective retention that so many investors tend to do and pretend mistakes never happened, I prefer to own them. This allows me to learn from them and, with any luck, avoid making the same errors again.
BARRY RITHOLTZ

Errors Happened Investor Luck Mistake Prefer
History is replete with examples of tech firms that were marginalized by new companies and technologies.
BARRY RITHOLTZ

Example Firm Technology
Unlike cheap stocks, inexpensive asset classes have a lower chance of big drawdowns (broad asset classes don’t go to zero) and a higher probability of average or better returns.
BARRY RITHOLTZ

Average Class Drawdown Zero
Keynes vs Hayek? Friedman vs Krugman? Those are the wrong intellectual debates. Its you vs. Tony Hayward, BP CEO, You vs. Lloyd Blankfein, Goldman Sachs CEO. And you are losing…
BARRY RITHOLTZ

Country Debate Intellectual Losing People Person
Excessive regulation in the banking reform bill will destroy a substantial part of our bond-distributing machinery.
BARRY RITHOLTZ

Long Political Quality
This ugly duckling investment will likely need time – quarters, or even years – to blossom into a beautiful swan.
BARRY RITHOLTZ

Beautiful Duckling Swans Ugly
And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.
BARRY RITHOLTZ

Doomed Forecast Forecasting Investment Plan
Can anyone expect that a step of this kind will improve the quality of our long-term investments?’
BARRY RITHOLTZ

Anyone Improve Investment Kind Quality Step
Never forget this simple truism: Forecasting is marketing, plain and simple.
BARRY RITHOLTZ

Forget Marketing never Simple
This is nothing like the 1970’s, which was a pretty dismal period and not just because of polyester and disco.
BARRY RITHOLTZ

Nothing Period Polyester Prett
The market is going to love it. The market always seems to applaud major mergers, even though the vast majority of them don’t work out and don’t increase shareholder value.
BARRY RITHOLTZ

Majority Mergers Out Work
The Boskin Commission… was an act of cowardice. Rather than man up and say fix this, its broken, we can’t afford it.
BARRY RITHOLTZ

Afford Boskin Broken Cowardice Man
Salesmen always need something to sell.
BARRY RITHOLTZ

Need Salesman Sell Something
One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.
BARRY RITHOLTZ

Accountability Financial Nonsense
The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.
BARRY RITHOLTZ

Charming Intelligent News Use Work
I find it funny that people who didn’t think there was any inflation in the pipeline are now talking about stagflation.
BARRY RITHOLTZ

People Stagflation Talking Thinking

And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

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And any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

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