The Gordon Equation is as close as being a physical law, like gravitation or planetary motion, as we will ever encounter in finance. - William J. Bernstein

The rub here is that buying when prices are low is always a very scary proposition. The low prices that produce high future returns are not possible without catastrophe and risk.

Ninety-nine percent of what you read about investing in magazines and newspapers, and 100% of what you hear on television is worse than useless.

Journalism attracts people with exceptional linguistic talent, but I have found that very few have the mathematical sophistication to appreciate the difference between skill and luck.