Burton Malkiel Quotes

Burton Malkiel Quotes.

A blindfolded monkey throwing darts at a newspaper's fi

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 experts.
Burton Malkiel
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.
Burton Malkiel
I have become increasingly convinced that the past records of mutual fund managers are essentially worthless in predicting future success. The few examples of consistently superior performance occur no more frequently than can be expected by chance.
Burton Malkiel
The surest way to find an actively managed fund that will have top-quartile returns is to look for a fund that has bottom-quartile expenses.
Burton Malkiel
It’s like giving up a belief in Santa Claus.
Burton Malkiel
Index funds do not trade from security to security and, thus, they tend to avoid capital gains taxes.
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