Zhou Wang

Transfer other people's investment values to you The stock market is a device for transferring money from the impatient to the patient. Warren Buffett Your choice: You and your advisor can try to outsmart the market with millions of traders and likely earn 3.79% a year or let their money flow to you over time and earn 11%. The analysis of real investors showed that the average advisor-investor earned just 3.79% a year while the stock market earned 11.06% over the last 30 years. DALBAR's QAIB Forget Wall Street hype. You can earn 11% by NOT letting advisors touch your money. 95% of active traders do NOT beat the market over time. The leading cause of bad returns is costs. Morningstar the rating firm found: "In every single time period and data point tested, low-cost funds beat high-cost funds." Warren Buffett, one of the greatest investors of all time, has given us his formula. We must leave our assets alone. Riches come to those who do nothing but wait. All the things that our Wall Street advisor tells us to do are wrong: trading, timing, high fees, 'special situations, ' buy low, sell high, activity, 'next' Apple, 'future' Amazon, new 'trend, ' new tech, new bio, etc. All is marketing hype. My wealth has come from a combination of living in America, some lucky genes, and compound interest. Buffett says growth comes from compound interest. That is earnings from last period earning gains in this period. When you invest $250 a month for 33 years, $99,000 total, you do nothing to receive the other $901,000--$1,000,000 over time.

Buffett's SIMPLE Strategy Beats Wall Street The Master of investing, Warren Buffett, proved it, again. You do not need Wall Street 'professionals' to reach your financial goals. In fact, if you use them, you may give up 63% of your potential accumulations because of trading, charges, commissions and fees. Buffett made a bet with a hedge fund manager for $1 million 10 years ago. Buffett's strategy earned over 7% a year versus 2.2% for Wall Street's best and brightest. So there is no reason to pay a sales person working for a Wall Street firm to invest for you. The costs over time destroy your account success. Buffett advocates a simple low-cost strategy: Buy the stock market index in a fund like Vanguard's 500 Index. Invest in the market returns consistently and you will do better than everyone you know. Over the long term, your returns would average over 11% per year. DALBAR keeps track of returns and found that the average managed-account equity investor earned just 3.79% a year over 30 years ended 2014. The benchmark returned 11.06%. Also note, since 1997 we have been able to invest for the long term without paying ANY taxes on the gains. In the past, we had to pay for gains in our 401k, IRA and pensions in retirement. We can avoid the charges to start and maintain these tax-advantaged accounts too. Earnings are FREE after age 59 1/2. That can mean deposit $99,000 ($3000 for 33 years) for $901,000 tax-FREE income

Time: Make Money the Old Fashioned Way Fidelity analyzed its accounts that produced the highest returns. They found that account holders that did NOT 'manage' their accounts or died were the most successful. Think about that You can earn more in your investment account by NOT touching your money. When you let someone 'manage' your money they tend to waste it and then charge you to boot. Warren Buffett's teacher, Benjamin Graham, once said: Buy stocks like you buy groceries not perfume Don't buy stocks when the Wall Street media or your advisor tells you to buy. Buy those that are on sale or buy the ones that are a value-quality at the right price. Just buy the stock market index and keep buying. You own the most profitable firms worldwide. Recently, Warren Buffett has proved this strategy. Buffett made a bet with a hedge fund manager for $1 million 10 years ago. So far Buffett's strategy has earned over 7% a year versus 2.2% for Wall Street's 'best and brightest.' He won Buffett has advocated a simple low-cost index strategy for decades: Buy the stock market in a fund like Vanguard's 500 Index. Invest in the market returns consistently and you will do better than everyone you know-11% over time. You do not need Wall Street 'professionals' to reach your financial goals. In fact, if you use them, you may give up 63% of your potential accumulations because of trading, charges, commissions and fees. Over the long term, your returns would average over 11% per year. DALBAR keeps track of returns and found that the average managed-account equity investor earned just 3.79% a year over 30 years ended 2014. The benchmark returned 11.06%. We start our $1 million account in 1 hour FREE

The average investor earned just 3.79% while a simple non-advisor index fund earned 11% over time. Dalbar.com QAIB "... that little 2 percent fee will erode 63 percent of what you would have had." John Bogle, Frontline "My wealth has come from a combination of living in America, some lucky genes, and compound interest." Warren Buffett Wall Street exists to make its owners rich. I have been in the financial services business for over 20 years. We make it appear that investors can make a lot of money by using special charts or doing in-depth analysis. It appears that if you follow the advice of people who appear smart, you can become wealthy very quickly. It appears that you can make a killing by paying for our 'brilliant' managers and strategies. But some of our margins are over 45%. We 'help' you get rich by taking your money no matter what you earn. We don't give refunds if we don't perform. Wall Street is really about separating people from their money. Wall Street is really a marketing operation. Salespeople provide attractive promises that create illusions of wealth-building for the "players." The odds of the average investor becoming wealthy by being a "player" are enormous. The owners structure the odds so that they can't lose. And if they fail, the taxpayers make them whole again The owners always take the money FIRST. There are no refunds. REALITY: There were ONLY 40 days from 1950 to 2007 that produced 70% of all the S&P 500 index's total returns. That is 40 out of 14,528. NO ONE can possibly know when to buy and sell into the right stock at the right time and be successful. Take Buffett's advice: Avoid Wall Street's fees and enjoy the Secret Sauce. It is FREE. Just Buy and Hold securities forever. You put up the money and take the risks, so keep the 63%. Let COMPOUNDING make you wealthy. Use the Secret Sauce - the Big Long

How Wall Street takes 63% of your money "... that little 2 percent fee will erode 63 percent of what you would have had." John Bogle, Frontline The average investor earned just 3.79% while a simple non-advisor index fund earned 11% over time. Dalbar.com QAIB "The market is a way to transfer money from the impatient to the patient." Warren Buffett Wall Street must stop "depleting investors retirement savings." Advisers can keep their "conflicted" commissions, but it's time to stop harming clients by depleting their retirement savings, says the chairman of the Labor Department's hearings on its proposed fiduciary rule. "We are absolutely not banning commissions," he says, a day after the hearings concluded. "We just want everyone who is working on retirement accounts to be acting as fiduciaries." Fiduciaries are legally bound to put their clients' best interests before their own when providing financial advice. Will regulators stop Wall Street from cleaning us out? Wall Street is really about separating people from their money. It is successful for the owners. A broker is a salesman with a median income of $61,555. His/her job is to provide attractive promises that create illusions of wealth-building for you. The owners make millions, with Fidelity's Abby Johnson topping the list at $13 Billions. The odds of you, the average trader or investor becoming wealthy from your "play" are very long. Wall Street pays for Congress's elections so when their schemes fail, we taxpayers give them back what they lost. They can't lose. The big fish never spend time in jail for fraud or "misleading" us See the list of Multi-Billionaires you have made wealthy on page 61. There are no refunds when they fail.

The Warren Buffett strategy "A very low-cost index is going to beat a majority of the amateur-managed money or professionally-managed money." "The stock market is a device for transferring money from the impatient to the patient." "We continue to make more money when snoring than when active." "My wealth has come from a combination of living in America, some lucky genes, and compound interest." Mr Buffett's strategy of patience has proven to be the most successful. He earns 19.7% a year compounded over time. He does NOT trade or speculate. He holds companies for a long time. The average investor earned just 3.69% while the stock market earned 11.11% over the last 30 years. DALBAR Most investors jump from one "popular" security to another just in time for them to go down. So they earn just 3.69%; paying more ... for less. Buffett has been patient for over 60 years: his $6,000 from paper routes has grown to $72 billions. You and I can become wealthy by following Buffett's advice. We don't need to trade or time our buys and sells. All we have to do is be patient. All we have to do is "snore": do NOTHING.

I have just three things to teach: simplicity, patience, compassion. These three are your greatest treasures.Lao Tzu Funny, but the Master of wealth-building says the same thing: "The stock market is a device for transferring money from the impatient to the patient." Warren Buffett Patience is important in life and in building wealth. Most investors are not patient so most investors are not wealthy. In fact, the average investor earns only 2.56% annually according to DALBAR's annual Qualitative Analysis of Investor Behavior. Mr Buffett's strategy of patience is the most successful. He earns about 20% a year compounded over time. He does not buy and sell stock. In other words, he holds the stock of companies for a long time. Most investors jump from one successful stock or mutual fund to another. Each time they do this, they are basically paying at the higher price AFTER the security has proved successful. Each time they are disappointed and then sell at a lower price. Every buy and sell transaction costs them a commission or fee, reducing their gains even more. They earn 2.56% while Buffett earns 19.7%. Wu wei is the core of the Wealth Tao. It means there is no need to struggle to reach our goals. Once we establish our stock portfolio or mutual funds, we do nothing to stop the growth of our account. We patiently let the market provide our wealth. Buffett has been patient for over 40 years and has grown his initial investment of $6,000 (from paper routes) to $65 billion. You don't need to do a thing to grow your money in the stock market. As Buffett has said: We continue to make more money when snoring than when active. berkshirehathaway.com/letters/1996

This Lecture book is about objective image quality assessment—where the aim is to provide computational models that can automatically predict perceptual image quality. The early years of the 21st century have witnessed a tremendous growth in the use of digital images as a means for representing and communicating information. A considerable percentage of this literature is devoted to methods for improving the appearance of images, or for maintaining the appearance of images that are processed. Nevertheless, the quality of digital images, processed or otherwise, is rarely perfect. Images are subject to distortions during acquisition, compression, transmission, processing, and reproduction. To maintain, control, and enhance the quality of images, it is important for image acquisition, management, communication, and processing systems to be able to identify and quantify image quality degradations. The goals of this book are as follows; a) to introduce the fundamentals of image quality assessment, and to explain the relevant engineering problems, b) to give a broad treatment of the current state-of-the-art in image quality assessment, by describing leading algorithms that address these engineering problems, and c) to provide new directions for future research, by introducing recent models and paradigms that significantly differ from those used in the past. The book is written to be accessible to university students curious about the state-of-the-art of image quality assessment, expert industrial R&D engineers seeking to implement image/video quality assessment systems for specific applications, and academic theorists interested in developing new algorithms for image quality assessment or using existing algorithms to design or optimize other image processing applications.