PROOF POINTS™:
a continuing diary of commentary and news for Holland Portfolio investors

–>  A Tale of Twenty Four Hours: why active investing stimulates the sale of antacids … but not consistent returns
–>  Consumer Reports study shows stock-pickers beat the S & P 500 only 9% of the time
–>  How Newton the investor discovered a fourth Law of Motion: "… returns decrease as motion (trading) increases."
–>  Schwab on diversification
–>  Swensen on diversification, indexing, myths
–>  Clements: "What counts is commitment."
–>  Older is wiser?
–>  Active Management
falls "flat"

–>  Proof Points™ Archive

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Schwab on diversification
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Fee-busting brokerage pioneer Charles Schwab, quoted recently in the New York Times:

"When I started 30 years ago, Schwab was purely a transactional company for people to make their own choices. But eighty-five percent of individual investors (want and) need help.

"They’ve found that buying an idea, or one stock, is not the way to invest.

"To be effective, you’ve got to do what all the great universities do with their endowments – have an appropriate diversification strategy."