23 Quotes by James O'Shaughnessy

It seems that the one thing that doesn't change is people's reaction to short-term conditions and their axiomatic ability to perpetuate them far into the future.

Stocks change. Industries change. But the underlying reasons certain stocks are good investments remain the same. Only the fullness of time reveals which are the most sound.

The average investor does significantly worse than a simple index... It's literally because of the way our brains are wired.

Industries that make goods and services that people have to buy, regardless of economic circumstances, are bound to do well whatever the economic conditions.

If you are an investor who's retired and hopes to live off the income that your portfolio is generating, then we would focus just on the dividend yield.

If you have a 401(k) at work and you don't use it, it's like literally walking by buckets of money every day,

If you're an investor who wants a little bit more from the capital-appreciation side of things, but still likes this concept of getting 'paid by the company,' then we would tell that investor to pursue shareholder yield.

If you're indexing to the S&P 500, you're buying the most expensive names in the market.

If you look back to the most spectacular blow ups in history, you can always tie them to a couple things: They were extraordinary complicated strategies that maybe even the practitioners themselves didn't understand, and they were overleveraged.