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Quote by Michael Lewis

“Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds, and private equity funds, is an elaborate fraud.”

Quote by Michael Lewis

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Michael Lewis
Michael Lewis

Michael Lewis, born on October 15, 1960, is a renowned American author. His works are known for their in-depth investigations and revelations of the truths in the financial, business, and sports worlds. more

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“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.”

WholeAchieveReturnAmountCostManagementRateInvestingAverageActiveManagersFundExpensesGrossPercentagesDisadvantagesTransactionsIndex FundsActive Management
Author:Burton Malkiel
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“Even fans of actively managed funds often concede that most other investors would be better off in index funds. But buoyed by abundant self-confidence, these folks aren't about to give up on actively managed funds themselves. A tad delusional? I think so. Picking the best-performing funds is 'like trying to predict the dice before you roll them down the craps table,' says an investment adviser in Boca Raton, FL. 'I can't do it. The public can't do it.'”

ThinkingGivingTryingI CanSelfWould BeFansGiving UpTablesInvestmentInvestingFolksSelf ConfidencePerformingFundInvestorsCrapBetter OffDiceAdviserDelusionalIndex Funds
Author:Paul Samuelson
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“Still, I figure we shouldn't' discourage fans of actively managed funds. With all their buying and selling, active investors ensure the market is reasonably efficient. That makes it possible for the rest of us to do the sensible thing, which is to index. Want to join me in this parasitic behavior? To build a well-diversified portfolio, you might stash 70 percent of your stock portfolio into a Wilshire 5000-index fund and the remaining 30 percent in an international-index fund.”

WantWellsStillsMightFansFiguresBehaviorPercentInvestingInternationalActiveSellingBuyingFundInvestorsSensibleEfficientDiscouragingPortfoliosBuying And SellingIndex Funds
Author:Paul Samuelson
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