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December 2000

You no longer get into a taxicab and hear the taxi driver talking about stocks . . . I don't think the novices are jumping into the market in the way they were.
Frank Petrilli in The Glory Days Are Distant For Day Traders; Sober Times $$ from The Wall Street Journal (11/27/00)

For professional investors like myself, a sense of humor is essential . . . We are very aware that we are competing not only against the market averages but also against one another. It's an intense rivalry. We are each claiming, "The stocks in my fund today will perform better than what you own in your fund." That implies we think we can predict the future, which is the occupation of charlatans. If you believe you or anyone else has a system that can predict the future of the stock market, the joke is on you.
Ralph Wanger in A Zebra in Lion Country

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