1. Forty years ago, you could get stock market television news for about one hour daily. Most of it was drivel and was not actionable. That is, it was useless. Today, you can get 18 hours daily. Much like 40 years ago, investors would be better off if they ignored all that and simply practised the six habits of Monday Morning Millionaires.
2. Three-year returns on initial public offerings are negative almost 100% of the time. The founders of these companies know more than you or I do about their companies. They are cashing in their chips.
3. On Wall Street/Bay Street, great money manager wealth rarely indicates great money manager investment performance.
4. After taxation and inflation, the return on most bonds is almost always negative.
5. Over the course of a market cycle (peak to trough to peak) beating the market is nearly impossible. Fortunately, any high school student can equal the market.
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