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“Paradoxically, when ‘dumb’ money acknowledges its limitations, it ceases to be dumb.”

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How important is it to “beat the market’? Depends. Are you a hedge fund manager or a mutual fund manager, whose ability to do so determines how much in assets the fund can raise? Are you a proprietary trader with a bonus tied to exceeding one benchmark or another? OK, in these cases beating the…

Here were the most read posts on TRB this week, in case you missed them: Chills n’ Wrath Felix Zulauf: Here Comes the Buying Climax Notes from the PIMCO Investment Summit with Mohamed El-Erian  Adaptation Bernard Baruch’s 10 Rules of Investing My Clique  

I’m doing the 5pm CNBC Fast Money show tonight from Times Square and then it’s off for a long weekend with the wife and kids (I hope they still recognize me from last weekend). Thank you all for reading and checking in this spring – it’s been quite a ride!  Let the summertime begin!

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