Defining Market and Portfolio Risk
The stock market is a giant distraction to the business of investing.
—John Bogle
In the 1960s there was a French film called The Lovers (Les Amants). It turned out to be a little risqué for some people in the Midwest. The state of Ohio ruled the film to be obscene and pornographic. The case eventually made it all the way to the Supreme Court, where it was ruled that the movie was not, in fact, too obscene to be viewed by the public. Justice Potter Stewart had this to say when describing the film and pornography in general, “I shall not today attempt further to define the kinds of material I understand to be ...
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