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How can I become better at picking stocks?
Tips and techniques for improving your performance as a stock investor.

Jason's Answers

Peter`s Uncertainty Principle
10/01/2004: Money Magazine
Peter Bernstein may know more about investing than anyone alive. And the most important thing he knows is this: He has no idea what the future will bring.

The way of the calm investor
08/01/2004: Money Magazine
Follow these five steps and you`ll make better investment decisions -- and agonize less over them.

What Warren Buffett wants you to know
05/03/2004: 2:58 PM EDT
How do you learn from a master? Start by listening to what he has to say. (A summary of Warren Buffett and Charles Munger’s remarks at Berkshire Hathaway’s 2004 annual meeting.)

Folksy fun at Buffett meeting
05/01/2004: 11:37 AM EDT
The faithful flock to Omaha for Q&A with investor. Rock star Buffett sings, shows off boxer shorts. (A live report from the 2004 annual meeting of Warren Buffett’s Berkshire Hathaway Inc.)

Warren Buffett, rock star
05/01/2004: 11:24 AM EDT
A mosh pit of millionaires -- MONEY's Jason Zweig reports from the Berkshire annual meeting.

The Election Effect?
03/01/2004: TIME Magazine
History says that stocks tend to rally as elections near. But don`t bet on it.

Ben Is Back: Lessons and Ideas from Benjamin Graham
This presentation summarizes the life and living legacy of Benjamin Graham, author of “The Intelligent Investor.” What can we still learn today from the greatest investment thinker who ever lived? Jason discusses the enduring lessons that every investor can – and should -- learn from Graham. (Note: AIMR charges a fee for access to this webcast).

Benjamin Graham and The Intelligent Investor
09/06/2003: Minnesota Public Radio
Jason talks with Stephanie Curtis of Minnesota Public Radio’s “Sound Money” about revising Graham’s masterpiece and why it remains so relevant today. You can listen to the interview here:

The Intelligent Investor (Public Radio)
Jason talks about how he edited the new edition of Benjamin Graham’s classic, “The Intelligent Investor,” and why the book is still relevant. You can listen to the interview, with Public Radio’s Cheryl Glaser, here:

Get Rich Slowly
07/01/2003: TIME Magazine (book excerpt)
The Intelligent Investor (1949), by financial giant Benjamin Graham, is more relevant than ever, in a new edition updated with analysis by Jason Zweig.

Looking For a Bounce
07/01/2003: TIME Magazine
Wall Street is flogging preferred stocks. Be careful what you buy.

Lessons From The Greatest Investor Ever
07/01/2003: Money Magazine, Vol. 32 No. 7
As The New Edition Of The Intelligent Investor Shows, Ben Graham Never Goes Out Of Style

What Would Jesus Buy?
05/01/2003: TIME Magazine
Can an investor become more righteous, and richer, by avoiding \"unholy\" stocks?

Is Your Brain Wired to Make You Rich? The Neuroscience of Financial Decision-Making
03/01/2003: Hoover Institution
This speech, which Jason presented at the Hoover Institution at Stanford University, is a shorter and simpler version of a talk he gave earlier to the CFA Institute in 2002 [see May 14, 2002]. It’s an overview of how the human brain goes about making investment decisions – complete with colorful graphics of neurons firing away. [See also October, 2002.]

Are you wired for wealth?
10/01/2002: Money Magazine
What goes on inside your brain when you invest? Here’s how the latest breakthroughs in neuroscience can help make you smarter – and richer. [See also May 14, 2002 and March 18, 2003.]

What\'s a Stock Worth Today?
08/01/2002: TIME Magazine
Focused on the future, WorldCom\'s pet analyst went astray. A past master tells us how to avoid that trap. (What Ben Graham could have taught Jack Grubman.)

How to Avoid the Next Stock Bomb
07/01/2002: TIME Magazine
Tips on picking stocks safely in a time of scandal.

Murphy Was an Investor
07/01/2002: Money Magazine, Vol. 31 No. 7
Why does it seem that whatever can go wrong will go wrong?

Money and the Mind: How Neuroscientists Are Cracking the Code of Investment Behavior
Jason explains the exciting new insights into financial decision-making that are coming from groundbreaking research in neuroscience. This presentation, to the annual meeting of the Association for Investment Management & Research, outlines the roles that different parts of the human brain play in estimating probabilities, assessing risk and reward, and integrating emotion with reason. [See also October, 2002, and March 18, 2003]

New Cause for Caution on Stocks
05/01/2002: TIME Magazine
Fresh research challenges the historical rate of return on equities. Look to bonds for more balance.

Online chat at Morningstar.com
03/01/2002: www.morningstar.com
Among other things, Jason discusses investment risk, diversification, index funds, market timing, and how the mutual fund industry should get its act together. (Note: free registration required.)

Give Us Our Dividends
02/01/2002: TIME Magazine
Technology companies like Microsoft and Cisco are piling up cash. Shouldn`t they pay some of it out to shareholders?

“Fat Tails, Thin Ice”
06/01/2001: Morningstar
In this speech, the keynote address to the 2001 Morningstar Investment Conference, Jason talks about how financial planners misunderstand and misuse the lessons of history: They cite academic studies “proving” investment theories without ever reading them; they extrapolate past data without questioning the quality and durability of the numbers; and they fail to communicate investment risk in terms clients can understand. Jason offers suggestions on how to do better.

Wall Street\'s Wisest Man
06/01/2001: Money Magazine, Vol. 30 No. 6
Getting rich off stocks is simple, says Charles Ellis. Here\'s how.

Do you sabotage yourself?
05/01/2001: Money Magazine, Vol. 30 No. 5
Daniel Kahneman has done more than anyone else to explain why most of us make so many mistakes as investors--and what we can do about it.

03/01/2001: Money Magazine, Vol. 30 No. 3
Can investors really make money buying stocks because they split?

A Matter of Expectations
01/01/2001: Money Magazine, Vol. 30 No. 1 Special Forecast Issue
How much will stocks return in the future? Even forecasts that don\'t pan out have lessons for investors.

The Trouble With Humans
11/01/2000: Money Magazine, Vol. 29 No. 12
A look at the neuroscience of investing: Why rats and pigeons might make better investors than people do.

Be your own fund manager
08/14/2000: money.com
Think you're worth five stars? Here's how to put yourself to the test.

Performance Review: Part 2
07/25/2000: money.com
I've been answering your questions in Mutual Fund Mailbag for just about a year now, and I think I've gotten things mostly right. Just to be sure, though, I've asked some of the investing world's top minds for their two cents. In this three-part series, I square off with Vanguard's John Bogle, efficient-market theorist William Bernstein, and finance professor Terrance Odean on the issues you've written in most about. This week: Bernstein gives me a bashing.

The Best Investor You\'ve Never Heard Of
06/01/2000: Money Magazine, Vol. 29 No. 6
From A Nondescript Apartment In Des Moines, Joseph Rosenfield--A Longtime Pal Of Warren Buffett-- Has Turned $11 Million Into $1 Billion. Who Is He, And How Did He Do It?

To buy, or to build
05/11/2000: money.com
How many stocks make up a diversified portfolio? The debate rages on, but there are some rules you can live by. (See also July 25, 2000.)

The case for boring bonds
02/17/2000: money.com
What good is 6% a year when you can make 6% an hour?

02/11/2000: money.com
Are two nickels ever worth 12 cents? You can play that game with stocks, but not with funds.

Do the Experts Get the Future Right? Does Anybody?
02/01/2000: Money Magazine, Vol. 29 No. 2
Before you put all your money in that tech fund, consider how far off our expectations have been over the past decade. Jason Zweig With additional reporting by Erica Garcia

Did You Beat the Market?
01/01/2000: Money Magazine, Vol. 29 No. 1 Special Forecast Issue 2000
Most investors who say they do are just kidding themselves.

Required reading
10/14/1999: money.com
Jason recommends a shelf-full of good books for the novice investor.

How smart is buying cheap?
09/10/1999: money.com
Jason explains why "cheap" stocks aren't always a good investment, and clears up some of the confusion around P/E ratios.

Day Trading
08/26/1999: CNN
Transcript of a CNN broadcast in which Jason calls day trading “the most effective weapon ever devised to commit financial suicide.”

False Profits
08/01/1999: Money Magazine, Vol. 28 No. 8
You now have all the tools you need to pick your own pocket. (A critique of the stock-picking “strategies” of the Motley Fool.)

In defense of diversification
07/28/1999: money.com
Zweig answers critics who wonder why anyone would possibly want to invest in anything other than U.S. stocks.

Fools and their money
07/21/1999: money.com
Reaction is swift, strong (and more than a little foolish) to Zweig's Money column criticizing the Motley Fool.

05/01/1999: Money Magazine, Vol. 29 No. 5
Don\'t believe the hype about Internet stocks and funds.

Who's recommending your stock?
01/10/2001: money.com
New research dishes dirt on Wall Street analysts. Plus: Tips for daytraders (if you must play that game).

The neuroscience of investing
01/01/2003: CNN "Moneyline" with Lou Dobbs
An overview of the neural pathways your brain uses to make decisions about money.

The Soul of an Investor
02/25/2005: Money Magazine
Jack Hurst is not famous, and he does not run a billion-dollar fund. But he may be the most amazing money manager I\'ve ever met.

The Oracle Speaks
05/01/2005: cnn.com
Warren Buffett speaks to the faithful at Berkshire Hathaway\'s annual meeting.

Funds on Sale! Why now may be the time to open your wallet to closed-end funds.
02/01/1996: Money Magazine
Amid the greatest bull market in history, closed-end funds are about as cheap as they have been in years. How to find top choices at terrific prices.

Stocks or Funds?
04/01/1998: Money Magazine
How to do decide whether (and where) mutual funds or individual stocks will work better for you.

The Nonconformist
06/01/1998: Money Magazine
A brief profile of swashbuckling money manager Ken Heebner.

How to Use the News and Tune Out the Noise
07/01/1998: Money Magazine
Evidence that investors who pay more attention to the latest news do not earn higher returns. In fact, they earn lower returns.

Confessions of a Fund Pro
02/01/1999: Money Magazine
A manager explains how the deck is stacked against you: a chat with the pathologically candid Ted Aronson. (The second link offers a more complete transcript.)

How Losing Less Can Cost You More
06/01/2005: Money Magazine
Why stop-loss orders are often better for brokers than for investors

How Women Can Out-Invest Men
06/01/2000: Money Magazine, special summer issue
Many men -- and even some women -- think men are better at investing than women. However, they are probably wrong.

The Higher Wisdom of Warren
07/01/2004: Money Magazine
Buffett has a lot more to teach than merely how to beat the market.

Mergers Are Hot. You Should Stay Cool.
04/01/2005: Money Magazine
Some rules on how to invest, and how not to invest, in takeover stocks.

Why You Should Ignore Stock Prices
12/01/2006: Money Magazine
A look at the baffling question of why the price of an average share of stock has not budged in decades.

A 117% Gain in a Year?
04/01/2006: Money Magazine
The champion of a stock-picking contest shows how to game the system -- and why you can never trust short-term returns

Winning the Home Run Hitter`s Game
02/01/2007: Money Magazine
An argument for swinging for the investment fences from Ralph Wanger, the legendary manager of the Acorn Fund.

The Right Way to Handle a Surprise
06/01/2007: Money Magazine
Why a one-penny shortfall in earnings makes Wall Street go crazy, and how to keep yourself sane.

Why We Stay Home and Why It`s a Bad Idea
07/01/2007: Money Magazine
It`s human nature to feel at ease with what`s familiar. But in investing, comfort can cost you a lot of money.

Buy. Hold. Profit. Give Back.
07/01/2007: Money Magazine
Ariel Capital`s John Rogers built an outstanding record investing in a few `great ideas` for the long run. Then he had his own idea: to launch a school to teach inner-city kids about money.

What`s Luck Got to Do with It?
08/01/2007: Money Magazine
An interview with fund manager Bill Miller of Legg Mason Value Trust.

How Many Stocks Should You Own?
09/01/2007: Money Magazine
The answer is a lot more, and a lot fewer, than you probably think.

Are You a Better Investor?
10/01/2007: Money Magazine
Over the past 35 years, investing has become simple, cheap and convenient. Now it`s a snap to build your wealth -- or destroy it.

Why You Don`t Want to Invest like an Expert
02/01/2008: Money Magazine
The way some finance professors manage their money offers valuable lessons—in what not to do.

With Buybacks, Look Before You Leap
08/30/2008: The Wall Street Journal
It`s not always good news when companies buy back their shares

The Other Reason for Warren Buffett’s Success
11/01/2008: The Wall Street Journal
Mr. Buffett is not just better than other market players. He also plays a different game entirely.

Pay Attention to That Window Behind the Curtain
12/20/2008: The Wall Street Journal
A look at the perennial problem of year-end `windowdressing` by fund managers.

Investing Experts Urge ‘Do as I Say, Not as I Do’
01/03/2009: The Wall Street Journal
Even the best investing minds find taking even the best advice easier said than done.

1930s Lessons: Brother, Can You Spare a Stock?
02/14/2009: The Wall Street Journal
Just in case we are in for a repeat of the Great Depression, it can`t hurt to look back and see which stocks did best in the worst of times.

As Stock Losses Loom, Don’t Throw a ‘Hail Mary’
02/21/2009: The Wall Street Journal
Why desperate investors do desperate things, and how to avoid joining in.

How Managing Risk with ETFs Can Backfire
02/28/2009: The Wall Street Journal
Why the hottest investments around -- leveraged ETFs -- are too hot for just about anybody.

Corporate-Cash Umbrellas: Too Big for This Storm?
03/14/2009: The Wall Street Journal
As Benjamin Graham warned long ago, some companies keep too much cash for your own good.

CEOs Need to Bring Investors Along for the Ride
05/02/2009: The Wall Street Journal
Some simple suggestions for reforming executive compensation.

If You Think the Worst Is Over, Take Benjamin Graham’s Advice
05/23/2009: The Wall Street Journal
In the market rebound, the worst investments have had the best returns. Don`t get carried away.

Data Mining Isn’t a Good Bet for Stock-Market Predictions
08/08/2009: The Wall Street Journal
What butter production in Bangladesh tells us about stock returns in the U.S.

Why Investors Need to See the Light and Slow Down
08/29/2009: The Wall Street Journal
After one of the biggest market rallies in history, now is no time to get more aggressive.

More Stocks Do Not Always Make a Portfolio Safer
11/21/2009: The Wall Street Journal
New research reveals a surprise: Some portfolios are riskier with 20 or 30 stocks than they were with just one.

Why Turning the Page on a CEO Isn`t Always a Panacea
12/05/2009: The Wall Street Journal
A look at the belief that corporate destiny is controlled by the boss.

Does Golden Pay for the CEOs Sink Stocks?
12/26/2009: The Wall Street Journal
Why it makes so little sense to pay tens of millions of dollars to corporate bosses.

High Trading Is Bad News for Investors
02/13/2010: The Wall Street Journal
Why investors, including big institutions, keep acting like traders.

A Star Trader Who Rarely Ever Traded
03/06/2010: The Wall Street Journal
What investors can learn from Jack Laporte of T. Rowe Price.

Tech Companies Won, Investors Lost
03/10/2010: The Wall Street Journal
Ten years on, the lesson of the Internet bubble: Uncertainty is good.

Inefficient Markets Are Still Hard to Beat
01/09/2010: The Wall Street Journal
Markets may not be efficient, but that doesn`t make beating them easy.

Why You Should Get a Bigger Slice of Earnings
03/13/2010: The Wall Street Journal
When will companies fork over higher dividends to investors?

What`s in a Name: If It’s ‘China,’ a Pick-Me-Up
03/20/2010: The Wall Street Journal
Why sticking ‘China’ onto a stock’s name makes it go up.

How the Little Guy Can Prey on Executive Pay
05/01/2010: The Wall Street Journal
Can you turn the tables on CEOs and their fat paychecks?

Lenders Want Their Money from Chinese Milk Supplier
05/05/2010: The Wall Street Journal
With millions of cash gone and its executives missing, what happened at China Milk? A news story with Carolyn Cui.

When ‘Stop-Loss’ Trades Backfire on Investors
05/15/2010: The Wall Street Journal
A technique intended to keep you safe can put you in danger when you least expect it. A news story with Mary Pilon and Karen Blumenthal.

Why One Legendary Investor Is More Worried Than Ever
05/22/2010: The Wall Street Journal
The great value investor Seth Klarman explains why being smart in one dimension may no longer be enough.

For Investors, Shaking Up Is Hard to Do
07/17/2010: The Wall Street Journal
What happens when an individual investor goes on a crusade against an underperforming company?

Why the Fuss Over Facebook Doesn`t Make It a Home Run
01/08/2011: The Wall Street Journal
Is it worth trying to get in on the ground floor of the Facebook IPO?

A Chance to Veto a CEO`s Bonus
1/29/2011: The Wall Street Journal
Will a `say on pay` slow the growth in executive compensation?

Why Investors Can`t Get More Cash Out of U.S. Companies
02/19/2011: The Wall Street Journal
Tax regulations are so peculiar that U.S. companies would rather borrow money than bring it home from abroad.

Why So Many Blue-Chip Investors Are Still Singing the Blues
04/16/2011: The Wall Street Journal
What has been keeping great companies from producing great stock returns?

How Small Investors Can Get Stomped
12/10/2011: The Wall Street Journal
In markets dominated by computers, humans get cheap trades most of the time -- and explosively bad trades every once in a while.

Now That`s Performance Art
12/24/2011: The Wall Street Journal
How hedge funds pump up performance -- and fees -- in the year-end ritual of `window dressing.`

Buffett Looking Out of Step
05/07/2011: The Wall Street Journal
In a market addicted to the Fed\'s free money, would you rather own Berkshire Hathaway or Cannabis Science, Inc.?

How the Halo Effect Puts a Shine on Apple and Buffett
08/27/2011: The Wall Street Journal
Which companies benefit from a warm glow cast over them by charismatic CEOs?

Shareholders, Don`t Buy In to Buybacks
10/01/2011: The Wall Street Journal
Share-repurchase programs sound like a great idea, but many destroy value instead of adding it.

Why We Can`t Let Go of Our Losers
10/15/2011: The Wall Street Journal
The neuroeconomics of trying to dump an investment you`ve lost money on.

Why You Shouldn`t Buy Those Quarterly Earnings Surprises
07/02/2011: The Wall Street Journal
How impressed should you be when you hear that earnings at most companies beat the consensus forecast? Not very.

Will New Tools Help Small Shareholders Topple Giants?
01/07/2012: The Wall Street Journal
Social networks are arising that might give individual investors new powers at corporate annual meetings.

Facebook and the St. Petersburg Paradox
02/04/2012: The Wall Street Journal
How much should investors be willing to pay for a company whose growth prospects seem almost unlimited?

Keynes -- Stock-Picker Extraordinaire
03/31/2012: The Wall Street Journal
The economist John Maynard Keynes, new research shows, was one of the most remarkable investors of the 20th Century.

Is `You` a Good Investment?
05/19/2012: The Wall Street Journal
As Facebook goes public, investors need to bear in mind that loving a company is one thing. Loving the stock is entirely another.

Will These Royal Yields Rule?
08/25/2012: The Wall Street Journal
The enormous income yields on royalty trusts may be too good to last.

Profits Came in Lower Than Expected? Hip, Hip, Hooray!
09/01/2012: The Wall Street Journal
In the latest twist, Wall Street greets bad earnings news and good news for stocks.

Want to Buy a Private Stock?
09/08/2012: The Wall Street Journal
Private companies, for the first time in decades, can pitch their securities to the general public -- just as new studies document the financial illiteracy of the general public.

What Will It Take for Companies to Unlock Cash Hoards?
05/28/2011: The Wall Street Journal
Companies have more cash than they know what to do with. It`s a shame so much of it is overseas.

What Buffett`s Mentor Thought of IBM
11/14/2011: WSJ Online: Total Return blog
With Warren Buffett buying a stake in IBM, a look back at his teacher Benjamin Graham`s view of the company decades earlier.

The Supercommittee as a Risk Factor
11/21/2011: WSJ Online: Total Return blog
As the government struggles to get the U.S. debt and deficit under control, companies have started pointing to it as a `risk factor` in their financial statements.

Is Microsoft Mega-Cheap?
12/01/2011: WSJ Online: Total Return blog
How cheap is the giant company?

High-Frequency Scalping
12/02/2011: WSJ Online: Total Return blog
How, in the world of high-frequency trading, it can suddenly cost 26% of your money to buy a stock.

Enron, 10 Years After
12/05/2011: WSJ Online: Total Return blog
On the 10th anniversary of Enron`s bankruptcy, what are the lessons for investors? An interview with a former senior Enron manager.

Corporate Pensions Are in Trouble, Too
01/12/2012: WSJ Online: Total Return blog
Pension-funding shortfalls will take a bite out of companies` earnings.

Auditing the Auditors
01/19/2012: WSJ Online: Total Return blog
What can investors do to guard against sloppy accounting?

Facebook Prospectus: The Word Cloud
02/01/2012: WSJ Online: Total Return blog
What does the relative frequency of words used in the prospectus for Facebook`s pending IPO say about its prospects? You decide.

Mark Zuckerberg: CEO for Life?
02/06/2012: WSJ Online: Total Return blog
Facebook`s IPO prospectus dwells on management tenure and compensation. Investors should, too.

Jeremy Grantham Speaks: Must-See TV for Investors
11/24/2008: WSJ Online: The Wallet
A rare interview with a wise investor.

Journey to the Center of Warren Buffett`s Mind
11/14/2008: WSJ Online: The Wallet
A review of Alice Schroeder`s book `The Snowball.`

The Winner for Investors Is...
10/20/2012: The Wall Street Journal
How much are stock returns affected by which party is in the White House?

At Long Last, Could the Dividend Revolution Be Here?
12/29/2012: The Wall Street Journal
Companies should consider returning to the way dividends were paid in the 19th century -- variably but generously.

The 107-Year-Old Stock Picker
12/22/2012: The Wall Street Journal
A profile of Irving Kahn, the oldest surviving student of Benjamin Graham.

Investor Aims High With Price For Dell
02/11/2013: The Wall Street Journal
A look at Southeastern Asset Management`s valuation of Dell Inc. (With Sharon Terlep, David Benoit and Telis Demos.)

Value Stocks Are Hot -- But Most Investors Will Burn Out
02/16/2013: The Wall Street Journal
The great value investor Jean-Marie Eveillard explains what makes value investing so hard: pain.

Have Investors Finally Cracked the Stock-Picking Code?
03/01/2013: The Wall Street Journal
New findings about `quality` stocks suggest that highly profitable companies outperform the averages.

Lesson From Buffett: Doubt Yourself
05/06/2013: The Wall Street Journal
Why would Warren Buffett want to take questions from someone betting against his stock?

How the Rich Play the Market
05/11/2013: The Wall Street Journal
A new study shows the ways in which the rich invest unlike -- and like -- the rest of us.

Apple Smashed
01/24/2013: WSJ Total Return Blog
Apple loses $59.5 billion in a day.

Stock Analysts Tell All!
04/25/2013: WSJ Total Return Blog
A new study shows what the job of a Wall Street stock analyst is. Hint: It isn`t analyzing stocks.

Turnaround Tuesday? Don`t Forget Black Tuesday
05/21/2013: WSJ Total Return Blog
How silly is the belief that the stock market has to go up just because it`s Tuesday?

Wayward Trades, Then and Now
05/30/2013: WSJ Total Return Blog
In today`s high-frequency trading markets, your order can get filled at weird prices. Decades ago, Wall Street had a different way of handling that.

Other Resources

Berkshire Hathaway shareholder letters

Link to Warren Buffett's annual letters to shareholders, 1977 to date. If you want to learn how to think logically and clearly about all the issues that confront investors -- from inflation to stock options to diversification to index funds to the true meaning of risk -- Buffett's brilliant letters are the first (and often the final) word. He will never steer you wrong, and the learning is free and without obligation.

Return to Your Questions by Topic

JasonZweig.com is my place to tell you what I think about a whole lot of investing stuff. I’m the only one responsible for my opinions, but I can’t guarantee they’ll always be right. If you don’t like what I say or it turns out to be wrong, I’m sorry; you can’t sue me. The material you find here is not meant as specific investing advice for you, and if you use it that way and something goes wrong, that’s your problem, not mine. To get individualized investing advice, you need to do your own homework or else hire a financial advisor, a tax professional, or a lawyer to do it for you (and even then, you’d better watch like a hawk!). If you think anything on this website is an invitation for you to buy or sell any investment, you need to get your head examined. What’s more, I’m not soliciting business of any kind, because I don’t have any business to solicit. (Believe it or not, I don’t want your money.) I’ll do my best to avoid any conflicts of interest in running this website, but I don’t have silvery wings and a halo, and somebody might manage to corrupt me. If that happens, it’s your job to notice and to be disgusted by it. In short, none of my best efforts to be honest, sensible, and trustworthy exempt you from your constant duties to treat what I say with the same skepticism you should treat anyone’s pontification about investing. I wish you good luck!

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