A Quote by George Soros
Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge.
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Plenty of funds have fine long-term returns despite being tax-inefficient and generally costly. But a dirty secret is this: Average, no-load fund investors do much worse than the funds - or the market.
Investors need to understand the risk of individual exchanges before trusting their funds with them.
I think we have in Germany too many sickness funds. We started with more than 1,000 sickness funds. But the fewer sickness funds there are, the less bureaucracy and the easier the system is to operate. But it is important that the best sickness funds survive.
We need a federal government commission to study the way our financial services system is working - I believe it is working badly - and we also need more educated investors. There are good long term low-priced mutual funds - my favorite is a total stock market index fund - and bad short term highly priced mutual funds. If investors would get themselves educated, and invest in the former - taking their money out of the latter - we would see some automatic improvements in the system, and see them fairly quickly.
There are situations when all answers and explanations fade. When you fully accept that you do not know, you give up struggling to find answers with the limited thinking mind. That is when the greater intelligence can operate though you. Sometimes surrender means giving up trying to understand and becoming comfortable with not knowing.
Even fans of actively managed funds often concede that most other investors would be better off in index funds. But buoyed by abundant self-confidence, these folks aren't about to give up on actively managed funds themselves. A tad delusional? I think so. Picking the best-performing funds is 'like trying to predict the dice before you roll them down the craps table,' says an investment adviser in Boca Raton, FL. 'I can't do it. The public can't do it.'
Most investors are pretty smart. Yet most investors also remain heavily invested in actively managed stock funds. This is puzzling. The temptation, of course, is to dismiss these folks as ignorant fools. But I suspect these folks know the odds are stacked against them, and yet they are more than happy to take their chances.
My role has been limited to focus on fiduciary obligations to our investors as a general partner of our funds.
I know our culture will sometimes understand a love for Jesus as weakness. There is this lie floating around that says I am supposed to be able to do life alone, without any help, without stopping to worship something bigger than myself. But I actually believe there is something bigger than me, and I need for there to be something bigger than me. I need someone to put awe inside me; I need to come second to someone who has everything figured out.
It's much better for an artist to know everything than to be limited by ignorance.
To me, beauty is a commodity and that's the way it's treated in my books. It has power, and though that power is limited, some characters understand that better than others.
Move your personal investments and retirement funds to socially responsible investment (SRI) funds that support only those corporations that uphold higher standards of behavior. Returns on SRI funds are usually equal to, if not better than, many of the well-known traditional mutual funds.
Understand that VCs are simply a sophisticated form of financial investors who, in turn, need to satisfy their own investors.
Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises.
?W. H. Auden once suggested that to understand your own country you need to have lived in at least two others. One can say something similar for periods of time: to understand your own century you need to have come to terms with at least two others. The key to learning something about the past might be a ruin or an archive but the means whereby we may understand it is--and always will be--ourselves.
When my father died of AIDS, I knew I had to do everything in my power to prevent others from going through what he endured. I support AmFAR which provides funds for cutting edge AIDS research so we can find a vaccine and a cure.
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