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Calming words for troubled times
For guidance in these unsettled days, we corralled some of the best minds in investing. What we got was wisdom, perspective, reassurance - and a couple of TV viewing suggestions.
William Bernstein
Get out of the market? Of course not, silly. If you think about it logically, you are rewarded for owning stocks precisely because they are risky; the dicier things look, the more money you can expect to make in the long run.
History bears this out: The lowest returns were earned by buying high when there was a lot of blue sky - think 1928, 1969, 1999. And the best returns were earned by buying low in 1932, 1942 and 1982, when it looked like the whole world was going to hell.
One more thing: Stop watching CNBC. It will make you stupid and poor. If you must watch, turn off the sound. It becomes an excellent substitute for Animal Planet.
NEXT: Henry Blodget
Last updated April 28 2008: 1:20 PM ET
RSS Due to a production error, an earlier version of this story reversed the photos of William Bernstein and Peter L. Bernstein, who is also featured in this piece.
