Burton Malkiel Quotes
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.
Quotes to Explore
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We aren't going to try and pretend to know where rates are headed, where the market is headed or what stocks will shine. That said, we do believe that the dominant equity strategy has begun to shift, and there are more and better foreign equities to invest in. To have a perfect asset allocation strategy, you need more exposure to foreign stocks.
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The elites - or managers in companies - no longer control the conversation. This is how insurrections start.
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There are several states that move from Karl Marx-like policies to Adam Smith-like policies and back again in a weekend. So for the states with huge volatility in their income tax policies over time, the differences in growth rates in those periods are really amazingly consistent with tax rates really mattering.
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These people vary from some of our senior managers who are helping getting the project office set up to construction workers.
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There is only one condition in which we can imagine managers not needing subordinates, and masters not needing slaves. This condition would be that each inanimate instrument could do its own work.
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The market is assuming that the ECB won't be hiking rates in the next couple of months. The way is open for the euro to decline further.
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Maybe it was true, and being a girl could be about interest rates and skinny jeans, riding bikes and wearing pink. Not about any one thing, but everything.
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The monetary policy committee could either keep rates constant, increase them, or bring them down. There are three options possible compared to when it is accommodative.
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It seems to me as I reviewed the literature that, with few exceptions, the more confident were the prescriptions about how to behave with ethics and integrity, the further removed was the author from the life and work of the everyday manager.
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Why would you want to stay manager and be second-guessed by me when you can come up into the front-office and be one of the second-guessers?
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Congress has all sorts of rules, hedge fund managers, private equity managers, executives, movie stars, fall into that allow them to escape or defer into the future not paying their taxes. And if you can defer your tax into the future, it's the best deal in the world, because you don't just get to eat your cake and have it too. You get to eat your cake and have a bigger cake.
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I think that many managers we meet do take their roles as leaders very seriously and do a lot for their people. And they try to hone their skills by reading books and attending training. But then again, the number one problem is we get busy. We tend to forget that collectively we can accomplish more than we could ever do alone, and we need our people to feel a part of a positive, productive culture.
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“Also, I have a mornid fear of rates, and mice, and nettles and wasps and jagged cans and rotting food and damp newspapers and the unemployed.”
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Index funds do not trade from security to security and, thus, they tend to avoid capital gains taxes.
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It will be a good thing if they pull this off. It was a calculated move and they were worried about what they did in 2000 when they prematurely raised rates.
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The government must use the latest record low interest rates and undertake stimulus spending.
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The fact is that middle managers have an effective veto power over whatever risk management system is created. If they don't buy it, it won't happen.
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Bobby Cox is one of the greatest managers of all time
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What is different between national inequality and global inequality is you have another element there that is sometimes forgotten: what matters for global inequality is relative growth rates between poor and rich countries.
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Most of those people who saw themselves as literary types at university became bank managers.
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Whatever we expect with confidence becomes our own self-fulfilling prophecy.
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It has long been believed that a man who gets bald across the front of his head is a thinker while a man who gets bald on the crown of his head is a lover. It follows, certainly, that a man who gets bald all over his head thinks he's a lover.
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Each weekend I play at least one and maybe two sets of tennis a day. My doubles team was in the finals recently at my tennis club in Palm Beach and lost a tiebreaker after a three-hour match. I must confess, by the end of the three hours, I was relieved it was over.
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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.
