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1. Stock markets move randomly and are priced based on all known information at all times. (EM)
2. Only new and unknowable information moves all the global markets. Therefore, actively managed funds have lower returns than comparable index funds.( the math, 1, 2, 3)
3. Higher expected returns are only available from higher risk investments. Investors are "paid" for withstanding volatility. (1) 
    a. There is no free lunch. (TANSTAAFL)
  b. No gain without pain.
  c. Volatility is the currency of returns.
4. Capitalism is the best place for capital.
5. For an expanded version, see the Short Book on Investing
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Click here to take the Risk Capacity Survey. Click to review risks and returns  of 20 portfolios of indexes. Click here to review portfolios of indexes. Click here to see how time and risk are related. Click here to review why each person has a unique risk capacity.