If you look back to the most spectacular blow ups in history, you can always tie them to a couple things: They were extraordinary complicated strategies that maybe even the practitioners themselves didn't understand, and they were overleveraged.

By relying on the statistical information rather than a gut feeling, you allow the data to lead you to be in the right place at the right time. To remain as emotionally free from the hurly burley of the here and now is one of the only ways to succeed.

Fear, greed and hope have destroyed more portfolio value than any recession or depression we have ever been through.

James O'Shaughnessy Quotes