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Quotes of the Week

July 20, 1998

Anyone--no matter how educated or hardworking--who wants to be as successful as George Soros just by causually reading The Wall Street Journal and an occassional financial publication has as much chance as a guppy in a shark tank.
Laszlo Birinyi in "The Educated Investor" from Bloomberg Personal Finance (July/August 1998)

Now that Seinfeld is off the air, the funniest speactacle around is watching Wall Street analysts twist themselves into knots trying to rationalize the valuations of companies like Amazon.
Michael Hiltzik in "Books, Boeing and Bumping Heads" from the Los Angeles Times (7/14/98)

Avoid the small, fast-track mutual funds. The track often ends at the bottom of a cliff . . . The better the performance in a market where fast-track stocks are shooting out the lights, the more advertising the mutual fund sponsor pours into the fund (often a virtual new entity with a short but spectacular record), and the more publicity is generated in the press. Inevitably, most investors get in near a top--just in time to get blasted away. Buying fast-track funds is like paying full price for last year's fashion just before the new lines are shown.
     David Dreman in Contrarian Investment Strategies

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