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Quote by William J. Bernstein

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William J. Bernstein
William J. Bernstein

William J. Bernstein, born in 1954, is a renowned investment expert and author. His career has been dedicated to the field of investments, particularly in the areas of mutual funds and index funds. As an investment expert, Bernstein has made significant contributions to the understanding of portfolio management and asset allocation. His book, 'The Four Pillars of Investing,' is a cornerstone in the field, providing in-depth insights into the principles and strategies of portfolio construction. Bernstein's work has had a profound impact on both individual and institutional investors, and he is widely regarded as an authority in the investment community. more

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“It can be shown that maximum diversification is achieved by holding each stock in proportion to its value to the entire market (italics added)... Hindsight plays tricks on our minds... often distorts the past and encourages us to play hunches and outguess other investors, who in turn are playing the same game. For most of us, trying to beat the market leads to disastrous results... our actions lead to much lower returns than can be achieved by just staying in the market.”

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