On Wall Street, Always Look Both Ways
Wall Street Journal (10/31/00) Vol. 104, No. 42 p.C1; Clements, Jonathan

The Wall Street Journal's "Getting Going" column lists "25 ironies of investing." Among them: the most confident investors often have the worst results because they incur high trading costs; the most successful actively managed stock funds will have a hard time keeping that performance advantage because investors will be pouring in new cash; you can cut risk by buying a stock gradually rather than all at once, but a stock should be sold all at once rather than gradually; and money managers may be near the end of their careers by the time they gain investors' confidence in their skill.

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