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Someone asked me years ago if it were true that I disliked Jews, and I replied that it was certainly true, not at all because they are Jews, but because they are folks, and I don’t like folks.
— Albert J. Nock
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Most investors are pretty smart. Yet most investors also remain heavily invested in actively managed stock funds. This is puzzling. The temptation, of course, is to dismiss these folks as ignorant fools. But I suspect these folks know the odds are stacked against them, and yet they are more than happy to take their chances.
— Jonathan Clements
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