"The stock is down 40%, it has to come back." You've heard this. You may have said it. It sounds sophisticated — it invokes statistical law.

Bottom line: Today's 2.8% drop is mostly a mirage — it's mechanical, not panic. But strip that away and you're left with a stock that has no

The formula is taught in high school: A = P(1 + r)^n. Understanding the equation is not the same as understanding the result. Compounding is

Most investors spend their time trying to pick the funds that will beat the market. The uncomfortable truth is that after costs, most of the