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Quotes of the Week

September 8, 1997

"The rise of on-line trading is like manna from heaven for small investors, particularly those who trade a lot or are fixated on lowering costs."
Vanessa O'Connell, "Point, Click and Buy: On-Line Investing Draws Active Traders, Bargain-Seekers," Wall Street Journal (9/5/97)

"This is the time in the market cycle when you don't want to purchase any stock that will require a bigger fool to take you out of your position at a higher price than you paid."
Joan E. Lappin, Gramercy Capital Management's "Clues to the Future"
Source: Market Watch $$ in Barron's (9/8/97)

"I believe advice is necessary; people are making too many mistakes. Many young individuals invest too conservatively because they are worried about short-term losses. We have found that people have the wrong concept of diversification"
Shlomo Benartzi (UCLA Professor)
Source: "TCW may advise participants," Pensions & Investments (9/1/97)

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