“Index funds are imperfect, but they provide the best outcome for most know-nothings, in order to avoid being misled by fools and liars.”
Quote by Charlie Munger
From the article of Stableboy Selections, i borrow his definition of Investing. "Investing is the process of putting money away now to be sure of getting more money back in the future."
If you agree with this definition, then you'll realize most people Speculate rather than Invest. No wonder they have poor long term results. (Do you know any gamblers who have good long term results? However, I know a lot of Casinos that earned a good long term results)
Read his article here: http://stableboyselections.com/2008/05/11/integrity-investment-performance/
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