QOTD: Charley’s Hope

My main hope is that investors will recognise that the markets have changed enormously over the past 50 years and will want to understand things as they are, not as they were 50 years ago, and to act sensibly in their own interests. My second hope is that as investors index the daily, monthly, annual operations of investing, they will devote time, energy and care to the really important work of defining their real long-term objectives and their ability to stay the course during market ups and downs.

- Charley Ellis
Founder, Greenwich Associates