Index funds have regularly produced rates of return exceeding those of active managers by close to 2 percentage points. Active management as a whole cannot achieve gross returns exceeding the market as a while and therefore they must, on average, underperform the indexes by the amount of these expense and transaction costs disadvantages.
Many of us economists who believe in efficiency do so because we view markets as amazingly successful devices for reflecting new information rapidly … - Burton Malkiel
Many of us economists who believe in efficiency do so because we view markets as amazingly successful devices for reflecting new information rapidly …
- Burton Malkiel
Never buy anything from someone who is out of breath. - Burton Malkiel
Never buy anything from someone who is out of breath.
Index funds have regularly produced rates of return exceeding those of active managers by close to 2 percentage points. Active management as a whole … - Burton Malkiel
Index funds have regularly produced rates of return exceeding those of active managers by close to 2 percentage points. Active management as a whole …
It's not that stock prices are capricious. It's that the news is capricious. - Burton Malkiel
It's not that stock prices are capricious. It's that the news is capricious.
We conclude that hedge funds are far riskier and provide much lower returns than commonly supposed. - Burton Malkiel
We conclude that hedge funds are far riskier and provide much lower returns than commonly supposed.
Trust in time rather than timing. - Burton Malkiel
Trust in time rather than timing.
Stupidity well packaged can sound like wisdom. - Burton Malkiel
Stupidity well packaged can sound like wisdom.
Historically, the stock market is like a gambling casino with the odds in your favor. Over the long pull, stocks are given something like nine and a … - Burton Malkiel
Historically, the stock market is like a gambling casino with the odds in your favor. Over the long pull, stocks are given something like nine and a …
I have become increasingly convinced that the past records of mutual fund managers are essentially worthless in predicting future success. The few ex… - Burton Malkiel
I have become increasingly convinced that the past records of mutual fund managers are essentially worthless in predicting future success. The few ex…
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