Fools Chasing Returns

I wrote a comment in a financial forum the other day about the perils of chasing last year's returns (or top performing asset class). A few days later, I had a conversation with a gentleman about how well the equity markets performed in 2006 and his reply was, "I guess I better reallocate my portfolio to indexes...aye?"

Then, today there was an article in a local paper that pointed out how profitable New Jersey casinos were last year and I thought, gee, the transfer of wealth continues; if it aint happening in the stock market, then it sure will happen in the casino!