The advent of modern communication technology has simply facilitated the rapid dissemination of increasingly trivial information. - William J. Bernstein

And lest I offend art lovers, it should be pointed out that even an old master, bought from the the artist for $100 and sold 350 years later for $10,000,000, has returned only 3.34% per year.

Most great financial innovators come from humble circumstances - nothing arouses fascination with financial assets quite like their absence.

Wealthy investors should realize that they are the cash cows of the investment industry, and that most of the exclusive investment vehicles available to them - separate accounts, hedge funds, limited partnerships, and the like - are designed to bleed them with commissions, transactional costs, and other fees.