Investment planning and execution are two completely different animals. - William J. Bernstein

In fact, using entirely reasonable assumptions, you can make the Dow's discounted market value almost anything you want it to be.

It is often said that a monkey could run an index fund. Nothing could be further fro the truth. Precisely tracking an index requires a very high degree of market savvy, discipline and nerve.

when a famous investor publishes a newsletter, it's a sure tip-off that his techniques have stopped working.