Dow Jones index made from 1929-1954 0 points   (0%)!
Dow Jones index made from 1960-1982 only 130 points (19%) !
Dow Jones index made from 1929-1982 479 points.(130%)!

Strategy where you can get 80% drawdown is not a good strategy for asset management. David Einhorn and Eric Sprott understood it. At least they set up long/short strategy.

After reading value books I got a feeling only micro matters. From Eric Sprott I learned macro matters. From Manuel Asensio and Steve Cohen I understood everything matters.

Jim Simmons would say:you think you can beat the market- let me check.

After what I saw there is not much alpha out there...... 

Jim Cramer- and you thought this guy is a loser . This guy is smartest from all.You make money faster when you talk about them than when you trade them.Hillarious!

Bill Miller -made billions on fees from other players (LMVTX).If you gave him money 15 years ago you still didn't make a penny.(I love the yacht he bought last year)

Mohnish Pabrai - his philosophy: low risk, high uncertainity is simply wonderful. Even better is investing like Buffett in early years. What went wrong? He was buying dips when average PE of S&P was around 25. It can go to 9!!!
 He lost 80% this year. Don't worry it will come up.

Ken Heebner- this guy is up to something I can assure you. If you invested in his fund 7 years ago you still didn't make a penny. (CGMFX) He lost 50% this year. PS:I always knew the best thing to do is to flip stocks around. The more you flip the bigger is the fun. 

Eric Sprott - first took away his performance from front page,now he is showing performance only as at Oct 31,2008. I wonder why


I'd compare stock pickers to astrologers . . . But I don't want to bad-mouth the astrologers.
Eugene Fama in How the Really Smart Money Invests from Fortune (7/6/98)
 


To cheer you up here is video with Michael Moore on car makers. 5:05 - 6:50 Incredible !!!

http://www.youtube.com/watch?v=j0bbOZ-nkJs