Home / Quotes / Quote by William Forsyth Sharpe

Quote by William Forsyth Sharpe

“Properly measured, the average actively managed dollar must underperform the average passively managed dollar, net of costs. Empirical analyses that appear to refute this principle are guilty of improper measurement.”

Quote by William Forsyth Sharpe

Author

William Forsyth Sharpe

William Forsyth Sharpe, born on June 16, 1934, is an accomplished economist. He has made significant contributions to the field of finance, particularly with the development of the Capital Asset Pricing Model (CAPM). Sharpe's research has had a profound impact on the development of modern financial theory. more

You May Also Like

“Unless an investor has access to “incredibly high-qualified professionals,” they “should be 100 percent passive - that includes almost all individual investors and most institutional investors.”

Should Individual Percent Investing Access Investors Passive Qualified

Author:David F. Swensen

“But whatever the consensus on the EMH, I know of no serious academic, professional money manager, trained security analyst, or intelligent individual investor who would disagree with the thrust of EMH: The stock market itself is a demanding taskmaster. It sets a high hurdle that few investors can leap.”

Knows Individual Security Serious Intelligent Investing Managers Leap Disagree Investors Academic Consensus Thrust Analysts Hurdle

Author:John C. Bogle

“How can smart women be so stupid about men sometimes? Lack of knowledge. It's what men have kept secret for so long.”

Men Long Sometimes Success Faith Secret Relationship Stupid Smart Harvey Smart Women Lack Of Knowledge Kept Secrets

Author:Steve Harvey

“While the apostles of the new so-called "behavioral" theory present ample evidence of how often human beings make irrational financial decisions, it remains to be seen whether these decisions lead to predictable errors that create systematic mispricings upon which rational investors can readily and economically capitalize.”

Humans Human Beings Decision Theory Evidence Remains Errors Investing Financial Rational Investors Irrational Apostles Predictable Systematic

Author:John C. Bogle

“The efficient market theory is one of the better models in the sense that it can be taken as true for every purpose I can think of. For investment purposes, there are very few investors that shouldn't behave as if markets are totally efficient.”

Ifs Thinking I Can Purpose Taken Theory Models Investment Investing Behave Investors Efficient Efficient Markets

Author:Eugene Fama

“I take the market-efficiency hypothesis to be the simple statement that security prices fully reflect all available information.”

Simple Security Information Investing Available Statements Efficiency Hypothesis Market Efficiency

Author:Eugene Fama

“Question: So investors shouldn't delude themselves about beating the market? Answer: "They're just not going to do it. It's just not going to happen."”

Happens Answers Investing Investors

Author:Daniel Kahneman

“Many of us economists who believe in efficiency do so because we view markets as amazingly successful devices for reflecting new information rapidly and, for the most part, accurately.”

Believe Views Successful Information Investing Devices Efficiency Economist Reflecting New Information

Author:Burton Malkiel

“... Any pension fund manager who doesn't have the vast majority-and I mean 70% or 80% of his or her portfolio-in passive investments is guilty of malfeasance, nonfeasance or some other kind of bad feasance!”

Kind Mean Majority Investment Investing Guilty Managers Fund Passive Pension Portfolios Malfeasance

Author:Merton Miller

“Men don't come up to you to just talk. We come up to you with a plan. We're looking across the room at you, and we don't care about your hopes and dreams. We don't care about what your future holds. We saw something we wanted.”

Men Dream Care Wanted Success Faith Rooms Saws Plans Relationship Come Up Don't Care Your Future Up To You Hopes And Dreams Harvey

Author:Steve Harvey