"IN THE STOCK MARKET (as in much of life), the beginning of wisdom is admitting your ignorance. One of the many things you cannot know about stocks is exactly when they will up or go down. Over the long term, stocks generally rise at a nice pace. History shows they double in value every seven years or so. But in the short term, stocks are just plain wild. Over periods of days, weeks and months, no one has any idea what they will do. Still, nearly all investors think they are smart enough to divine such short-term movements. This hubris frequently gets them into trouble."

James K. Glassman, 2001

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Posted By: Benjamin - Category: Trivia

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Comment by Cibbuano

July 3rd 2007 01:26

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that quote has so much truth in it... all the math and studies that go into the stock market sometimes fool people into thinking that they're able to predict things...

Comment by Benjamin

July 3rd 2007 04:12

Benkaiser.NET Investment Portal

Yes, you are right. All those academic studies are only a guide for us to understand the market better and then make a "reasonable" extrapolation from understanding and history.

I've had experience of being involved in an academic research to find ways to predict the market, and its a wild wild west.

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