The stock market indistupably is now America's favorite pastime. Month in, month out, billions of ordinary folks' hard-earned dollars pour into equity mutual funds; 401(k)s blossom in every village and hamlet of the land. Never have so many basked so happily in the wealth effect, courtesy of the greatest bull market in history.
Alan Abelson in "Up & Down Wall Street" $$ from Barron's (5/4/98)The reason that .400 hitters have vanished in the stock market is that "growing numbers of today's investors are sufficiently educated, sophisticated and informed to block their way, just as batters capable of achieving a .400 average have fallen short of that goal since the old days because defending teams have developed sufficient skill to block their way" . . . So investing isn't exactly like baseball. But, as Bernstein shows, in an age when .400 hitters have disappeared from both sports, investors should turn to solid .290 batters, who rap out singles and doubles and win more games than they lose.
James Glassman referencing Peter Bernstein in Where are the .400 hitters? from the Washington Post (4/26/98)If you want to see the greatest threat to your financial future, go home and take a look in the mirror.
Jonathan Clements of the Wall Street Journal on CNBC (4/27/98)
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