Home / Quotes / Quote by Burton Malkiel

Quote by Burton Malkiel

“It's like giving up a belief in Santa Claus.”

Quote by Burton Malkiel

Author

Burton Malkiel is a renowned economist, born on August 28, 1932. He has made significant contributions to the field of financial economics, particularly in the areas of asset pricing and portfolio theory. Professor Malkiel is a faculty member at Princeton University, where he is known for his exceptional research and teaching. more

You May Also Like

“Hollywood is run by people who sit up in their executive office, who are not connected to Mississippi, Alabama, Chicago, South Carolina. They know nothing about that, they don't go to church, and they make their decisions about what they think is right.”

People Thinking Knows Running Church Decision Office Hollywood South Connected Executives Chicago Mississippi Carolina Alabama South Carolina

Author:Steve Harvey

“... skepticism about past returns is crucial. The truth is, much as you may wish you could know which funds will be hot, you can't - and neither can the legions of advisers and publications that claim they can. That's why building a portfolio around index funds isn't really settling for average. It's just refusing to believe in magic.”

Knows Believe May Past Wish Magic Building Return Truth Is Claims Hot Investing Average Settling Fund Crucial Skepticism Wish You Publication Adviser Legion Portfolios Index Funds

Author:Bethany McLean

“The number of managers with great track records in a given market depends far more on the number of people who started in the investment business (in place of going to dental school), rather than on their ability to produce profits.”

People School Given Ability Numbers Records Produce Depends Investment Investing Track Profit Managers Track Record Dental

Book:Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets

Source: Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets

“Wall Street's favorite scam is pretending that luck is skill.”

Streets Wall Skills Luck Investing Pretending Scams

Author:Ronald Ross

“In every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: "Past performance is no guarantee of future results."”

Past Results Performances Investing Following Guarantees Fund Mutual Print Warning Advertisements Mutual Fund Folders

Author:Paul Samuelson

“Getting an unsophisticated client was the golden prize. The quickest way to make money on Wall Street is to take the most sophisticated product and try to sell it to the least sophisticated client.”

Way Trying Streets Products Wall Sells Investing Golden Making Money Prize Clients Sophisticated

Author:Greg Smith

“Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises.”

“While it is probably a poor idea to own actively managed funds in general, it is truly a terrible idea to own them in taxable accounts... taxes are a drag on performance of up to 4 percentage points each year... many index funds allow your capital gains to grow largely undisturbed until you sell... For the taxable investor, indexing means never having to say you're sorry.”

Years Mean Ideas Grows Poor Terrible Taxes Gains Performances Accounts Sells Sorry Investing Fund Investors Drag Percentages Capital Gains Index Funds Indexing

Author:William J. Bernstein

“The typical fund company services 401k plan participants in the same way that Baby Face Nelson serviced banks.”

Way Faces Company Plans Baby Investing Fund Typical Participants Nelson

Author:William J. Bernstein

“For the taxable investor, indexing means never having to say you're sorry.”