Quotes from Barry Ritholtz

Mutual fund managers want your money in their funds. They get paid based on assets under management.

If you have read me for any length of time, you know I am less than enthralled with much of what passes for financial news.

Asset managers have different approaches, and I don't wish to suggest there is only one way to run money. There are many ways one can attempt to reduce risk, improve performance, lower drawdowns and reduce volatility.

There is a shortage of doctors, and the American Medical Association is aiming to keep it that way.

How are the cabs in your city? In Manhattan, where I work, they are rather awful.

One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.

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 data strongly suggest that very good years in the U.S. stock market are followed by more good years.

Any Wall Street advertising that does not go into the boring details of methodology is most likely to be pushing past performance.

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.

Markets are frequently ahead of, and often out of sync with, the economy.

Despite all the media coverage, glitz and glam of hedge funds, they have not done well for their investors. They have high - some say excessively high - fees; their short- and long-term performance has been poor.

When it comes to investing, there is no such thing as a one-size-fits-all portfolio.

Yearly data put the rest of the noise into perspective. Most of the weekly or monthly random up-and-down movements get smoothed out. Ultimately, this is where long-term investors should be focused.

Investing is about making probabilistic decisions with limited information about an unknowable future. The variables are well known, as are the possible outcomes.

'Returnless risk' is not how you prepare for a decent retirement.

Rather than engage in the sort of selective retention that so many investors tend to do and pretend mistakes never happened, I prefer to 'own' them. This allows me to learn from them and, with any luck, avoid making the same errors again.

Even when you are right, there are costs and taxes associated with being tactical. When you are wrong, there are opportunity costs.

Whenever you try to pick market tops and bottoms, you are making a prediction. Guessing what stock is going to outperform the market is forecasting, as is selling a stock for no apparent reason. Indeed, nearly all capital decisions made by most people are unconscious predictions.

Whenever you hear a discussion about the short-term swings in any given stock's price, your immediate thought should be whether it matters to why you are investing.

What you pay for an investment is the single biggest determinant for how successful that investment will be. When equity prices are high, your returns will be lower. When they are cheap, your returns will be higher.

The consumption and production of energy is a major component of the global economy.

History is replete with examples of tech firms that were marginalized by new companies and technologies.

Most of Google's home technologies have failed to catch on in a major way.