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

It's not that stock prices are capricious. It's that the news is capricious.

- Burton Malkiel

Never buy anything from someone who is out of breath.

- 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 …

- Burton Malkiel

Experience conclusively shows that index-fund buyers are likely to obtain results exceeding those of the typical fund manager, whose large advisory f…

- 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…

- Burton Malkiel

We conclude that hedge funds are far riskier and provide much lower returns than commonly supposed.

- Burton Malkiel

Trust in time rather than timing.

- Burton Malkiel

A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would do just as well as one carefully selected by…

- Burton Malkiel