Irrationality of the Stock Split Rally

Splits don’t change anything. Yes, you will have 4 times more but each is worth 1/4, so it’s exactly the same. Sure, it encourages people who felt it was out of reach to get in, so it brings in some new money. And it creates media attention. It alters the price-weighted DJIA. And investors can …

Plans

No battle plan survives contact with the enemy. – Helmuth von Moltke the Elder Plans are of little importance, but planning is essential. – Winston Churchill A good plan, violently executed now, is better than a perfect plan next week. – George S. Patton Plans are nothing; planning is everything. – Dwight D. Eisenhower Everybody …