Robert Haugen

"The cheaper the stock, the better the outlook for future returns."

"When you buy a lottery ticket, you don't know how tickets have been sold. But sold they have been. And there is an underlying distribution for the game."

"Behaviorists tell us that we tend to overweight and overreact to the most recently received information. If we do, we will find that the information that we thought was so important becomes tempered, …"

"CAPM also makes use of what is called a "definitional identity." This is something that is automatically true, simply because of the way things have been defined."

"Although efficient markets people still go around saying there is a "mountain" of evidence supporting their hypothesis, the truth of the matter is that it's a very old mountain that's now eroding rapi…"

"In going directly to Investment Heaven, you build your portfolio as you would build a wonderful company through a merger and acquisition program. You specify the way you want your portfolio to look, a…"

"So you see, in the end, it is nearly certain that the power of prediction must triumph over the arrogance of elegance."

"The cheapness family is the most powerful of the five."