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There's no statistical evidence that human beings have an ability to move in and out of the markets effectively. It's next to impossible.

One of the reasons so many people get burned in the market is because they start buying as they see prices going up.

The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it's approximately efficient almost all the time, and it simply isn't true.

Most marketers think there's a concept called a product life cycle. Once you realize that the world is organized by jobs that need to be done, you understand that product life cycles don't exist.

It's difficult to make your clients understand that there are certain days that the market will go up or down 2%, and it's basically driven by algorithms talking to algorithms. There's no real rhyme or reason for that. So it's difficult. We just try to preach long-term investing and staying the course.

It's only when the markets are perceived to have exhausted themselves on the downside that they turn. Trying to prevent them from going down just merely prolongs the agony.

You know, a lot of people are just interested in, in building a company so they can make money and get out.

Obviously, no one knows when the market is going to bottom out, and I am certainly not an economist.

The trick is, a market has to be nonexistent when you start. If the market is large early on, you will have too many competitors. You have to make it large.

In business, every phase of things counts. Companies that just yell out a low price today to win business aren't going to make money in the long term.