These are all random thoughts that I have been having the past few days.  The first is really about my investing philosophy.  I slowly come to realise that after reading so many books on investing, I am not really certain which school of thought I belong to.

Are markets efficient or are they inefficient?  Should I just do index investing as suggested by gurus like Bogle or is it possible that one can actually find good stocks like Warren Buffett.  And that is also about finding good stocks beyond what is considered luck or statistically insignificant results.  But if you invest in the market index, then during the bear markets, it will also mean that you perform as badly as the entire stock market.  And that by itself is a scary thought.

Another area is capital appreciation or dividends.  Should I work towards building up a greater sum of capital ......