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notes
1 The Case for Expectations Investing
1. Louis E. Boone,Quotable Business (New York: Random House, 1999).
2. We assume that investors have already chosen investment policies that
reflect their risk tolerance—the level of equity exposure and the degree of
diversification in the equity sector.
3. Charles D. Ellis, Winning the Loser’s Game,3rd ed.(New York:McGraw
Hill,1998), 5.
4. “Where, Oh Where Are the .400 Hitters of Yesteryear?” Financial Analysts
Journal 54, no. 6 (November–December 1998): 6–14.
5. John C. Bogle, Common Sense on Mutual Funds: New Imperatives for the
Intelligent Investor (New York: John Wiley & Sons,1999), 92.
6. Yet another cost ...