Look at what all these Nobel Prize winners did. they are no better than average Joe in investing. They even don’t believe their own theories. Their theories are joke. Period! Nobel Prize winners in economics are no difference from those 6/49 winners. Nuf said. No time further for your herds' stupidity. http://articles.latimes.com/2005/may/11/nation/na-nobel11 Experts Are at a Loss on Investing ***Harry M. Markowitz won the Nobel Prize in economics as the father of “modern portfolio theory,” the idea that people shouldn’t put all of their eggs in one basket, but should diversify their investments….when it came to his own retirement investments, Markowitz practiced only a rudimentary version of what he preached. He split most of his money down the middle, put half in a stock fund and the other half in a conservative, low-interest investment.*** ***“I know it’s utterly stupid,” confessed George A. Akerlof, a UC Berkeley professor and 2001 winner of the Nobel Prize in economics.*** ***Even some winners of the Nobel Prize in economics admit to making similar mistakes, either by failing to pay attention to their own retirement arrangements or by making faulty decisions when they do.*** ***“I would rather spend my time enjoying my income than bothering about investments,” said Clive W.J. Granger, an emeritus professor at UC San Diego and a 2003 Nobel Prize winner*** ***Anyone who followed Markowitz’s approach – putting half of their balance in a low-interest investment – would almost certainly lose money by signing up for accounts. *** ***In interviews and e-mails, five of the 11 Nobel winners in economics during this decade and a handful of others since 1990 said they failed to regularly manage their retirement savings. One even says he missed the mark in how he invested his prize winnings.*** ***Akerlof, the Berkeley professor who shared the 2001 Nobel with Stiglitz and Stanford economist A. Michael Spence, won for a paper on the economics of used cars called “A Market for Lemons.” But he confessed that he had a substantial chunk of his retirement savings in a lemon of an investment*** ***Douglass C. North, an economist at Washington University in St. Louis, won the Nobel Prize in 1993 for work on the importance of institutions in fostering growth. However, in deciding how to invest his prize money, he trusted his gut rather than institutions. He concluded that the stock market had peaked, and poured the money into low-interest municipal bonds. When stocks confounded his predictions by doubling in value, he said, “my wife spent years berating me.”***