They don’t take eyeballs at the bank. Those who value stocks by eyeballs should go be ophthalmologists, not stock analysts. There is no cyberworld where reach trumps profits.

I don’t think anyone envisioned a world where a bunch of guys would sit around in big warehouses with machines, picking off market makers left and right,

The difference between performance and outperformance often comes down not to what you buy, but how you buy it.

We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come.But we must.

I hated myself at the end of my professional career for making rich people richer, which is a terrible epitaph. I can use the same skill set to help more people by telling them how...

Funny, but after trading for more than 15 years, I still am capable of forgetting a cardinal rule: The paper you own, in the end, will be intertwined with the fate of the 30-year bond.

I am not a hesitant bull, I’m a Pamplona bull.

Remember, I am neither a bear nor a bull, I am an agnostic opportunist. I want to make money short- and long-term. I want to find good situations and exploit them.

Nothing’s been determined yet. The priority right now is to get the schedule out, and then there will be meetings with the staff at Doral.

A tournament coming to town brings a large number of people outside of the players. In addition to caddies, there are swing coaches, representatives from the equipment companies. A good number of the players bring...