Thursday, March 11, 2010

William Bernstein on INVESTORS

There are two kinds of investors, be they large or small: those who don’t know where the market is headed, and those who don’t know that they don’t know. Then again, there is a third type of investor – the INVESTMENT PROFESSIONAL, who indeed knows that he or she doesn’t know, but whose livelihood depends upon appearing to know.
- William Bernstein, The Intelligent Asset Allocator

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