The efficient markets hypothesis is 'mostly right' — not perfectly right. And that mostly-right part is where the money is.
Value investing has worked over long periods of time. If you need it to work every year, you're not a value investor — you're a performance chaser with good taste in frameworks.
Volatility laundering is one of the most dangerous things happening in modern portfolio management. Private assets look smooth because nobody is marking them to market. The risk is still there. You just don't see it until you need liquidity.
Momentum is the premier anomaly in finance. It works everywhere, across almost every asset class, in almost every country, over almost every time period studied. And yet people keep trying to explain it away.
Diversification is the only free lunch in investing. Everyone says it. Almost nobody actually does it right.
Sticking to a strategy through a drawdown is the hardest thing in investing. Anyone can be disciplined when things are working. The test is whether you stay when everything you believe is being punished by the market.