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Quotes of the Week

August 10, 1998

Start keeping a diary. Write down every time you are convinced that the market is going up or down. After a few years, you will realize that your insights are worth nothing. Once you realize that, it becomes much easier to float on that ocean we call the market.
     Meir Statman in "To Sell or Not?" in the Wall Street Journal (8/6/98)

The longer I've been in this business, the more I realize that investors really are lemmings.
     Tom Maguire in "Life in the Fast Lane" from Smart Money (August 1998)

The most important message of this book is to stay invested in stocks. This is extremely difficult for many investors, especially during bear markets. As a result, they jump into and out of even the best funds as market conditions change, dramatically lowering their returns. For many investors, it is helpful to have an adviser who can lend a steady hand and maintain a proper long-term perspective for a portfolio. It does little good to purchase the right stocks or funds if the next time the market trembles you find yourself scurrying to the safety of money market assets.
     Jeremy J. Siegel in Stocks for the Long Run

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