Barry Ritholtz Quotes
Most Famous Barry Ritholtz Quotes of All Time!
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The consumption and production of energy is a major component of the global economy.
How are the cabs in your city? In Manhattan, where I work, they are rather awful.
In New York, the former lack of real competition allowed taxis to extract excessive charges, regardless of the poor service.
The way we finance homes in this country is slow, filled with middlemen, who run a nonstandardized evaluation process. This makes financing a home cumbersome and difficult.
There is a shortage of doctors, and the American Medical Association is aiming to keep it that way.
History shows us that people are terrible about guessing what is going to happen - next week, next month, and especially next year.
Have a well-thought financial plan that is not dependent upon correctly guessing what will happen in the future.
It is important for investors to understand what they do and don't know. Learn to recognize that you cannot possibly know what is going to happen in the future, and any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.
Never forget this simple truism: Forecasting is marketing, plain and simple.
The ability to select stocks, manage them over time and know when to sell them is incredibly difficult, even for professional fund managers.
Commissions add up, taxes are a big drag, margin ain't cheap. A good accountant costs money as well. The math on this one is obvious, yet investors often fail to recognize it: Keep your costs low and your turnover lower, and you will win in the end.
When it comes to investing, you are your own worst enemy.
No one knows what the top-performing asset class will be next year. Lacking this prescience, your next-best solution is to own all of the classes and rebalance regularly.
When it comes to investing, there is no such thing as a one-size-fits-all portfolio.
People who work in specialized fields seem to have their own language. Practitioners develop a shorthand to communicate among themselves. The jargon can almost sound like a foreign language.
Based on a lifetime of observations and a few decades in the markets, I understand that societies, beliefs and fashions all move in long arcs of time. We call these arcs several things: cycles, periods, eras.
Secular cycles are the long periods - as long as decades - that come to define each market era. These cycles alternate between long-term bull and bear markets.
The electronics industry expanded rapidly and the seeds for the semiconductor and software revolution were planted. The postwar period also saw the suburbanization of America, the rise of the homeowner, the build-out of the interstate highway system, and the rise of automobile culture. Credit availability expanded dramatically.
Once you research an idea, you begin to develop a perspective. Writing about anything in public, often in real time, has helped fashion my views.
Anyone can make an article longer; the skill is keeping it tight and lean.
A number of bloggers in economics and the financial sector have risen to prominence through the sheer strength of their work. Note it was not their family connections nor ties to Ivy League schools or elite banks, but rather the strength of their research, analysis and writing.
Content is king. When you are asking people to read you several times a day, you better have some fine content.
Any time you speak to people about their posture, you learn about their most recent investment activity. When someone just bought stocks, they tend to be bullish; someone who just sold is bearish.
Mutual fund managers want your money in their funds. They get paid based on assets under management.
Hedge fund managers charge so much more than mutual fund managers; alpha is even harder to come by. They end up selling a variety of things beyond mere outperformance.
TV producers want ratings and are willing to do nearly anything to get them. They gin up artificial conflicts and create an urgency for even the most minor of economic data points.
The data strongly suggest that very good years in the U.S. stock market are followed by more good years.
Forecasting is simply not a strength of the species; we are much better with tools and narrative storytelling.
To know whether stocks are cheap or pricey, we typically look at price-to-earnings ratio. Valuation is a tougher question than many folks realize.
People forget that although we can pinpoint the price, we can only guess at future earnings. The past isn't much help: It simply tells whether a market was pricey or cheap.
Gains in corporate profits depend in large part on accelerating global economic growth.
Investing is about making probabilistic decisions with limited information about an unknowable future. The variables are well known, as are the possible outcomes.
You, your employer and your plan's investment managers fail to follow even the most basic rules of investing. You overtrade, chase performance, do not think long term. All of you - All Of You - have done a horrible job managing your retirement plans.
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Today's Quote
The Obama administration has issued numerous orders essentially suspending deportations, prompting a major spike in illegal crossings.
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