A Quote by William J. Bernstein
A decade ago, I really did believe that the average investor could do it himself. I was wrong. I've come to the sad conclusion that only a tiny minority, at most one percent, are capable of pulling it off. Heck, if Helen Young Hayes, Robert Sanborn, Julian Robertson, and the nation's largest pension funds can't get it right, what chance does John Q. Investor have?
Related Quotes
The normal expectancy of the average investor - for example, the pension funds of AT&T or IBM - is 6% for a long time.
The value of the security analyst to the investor depends largely on the investor's own attitude. If the investor asks the analyst the right questions, he is likely to get the right or at least valuable answers.
If the investor doesn't have enough time and skill to investigate individual stocks or enough money to diversify a portfolio, the right thing to do is to invest in exchange-traded funds that give you exposure to asset classes. It does make sense for the individual investor to think in terms of holding individual asset classes.
The investor has the benefit of the stock market's daily and changing appraisal of his holdings, 'for whatever that appraisal may be worth', and, second, that the investor is able to increase or decrease his investment at the market's daily figure - 'if he chooses'. Thus the existence of a quoted market gives the investor certain options which he does not have if his security is unquoted. But it does not impose the current quotation on an investor who prefers to take his idea of value from some other source.
I'd like to do Harvey again. I did it two years ago with Helen Hayes in New York. It was a joy. I was so glad to do it again because I never thought I did it right the first time.
Consumer groups fought hard to provide investor protections for special entities such as pension funds, schools, and municipalities who purchase swaps. No comparable protection exists in the futures market.
Consumer groups fought hard to provide investor protections for 'special entities' such as pension funds, schools, and municipalities who purchase swaps. No comparable protection exists in the futures market.
If you're a technology investor, and you decide that you're also going to be a healthcare investor or a green-tech investor, that doesn't usually work out that well. There are reasons why people make their careers studying these things and becoming experts.
We like to be the largest outside investor, and the first outside investor.
I am truly an angel investor and I'am not a passive investor.As a passive investor, I am awful because I can not put funding into a company and leave it to other people.
"Average" isn't so hot at the race track given those steep track takes. "Average" is pretty decent for stocks, something like 6 percent above the inflation rate. For a buy-and -hold investor, commissions and taxes are small.
It is the long-term investor...who will in practice come in for the most criticism... For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion
When you first meet an investor, you've got to be able to say in one compelling sentence - that you should practice like crazy - what your product does, so that the investor that you are talking to can immediately picture the product in their own mind.
Ask yourself: Am I an investor, or am I a speculator? An investor is a person who owns business and holds it forever and enjoys the returns that U.S. businesses, and to some extent global businesses, have earned since the beginning of time. Speculation is betting on price. Speculation has no place in the portfolio or the kit of the typical investor.
Anyone with a pension or retirement is an investor in the stock market.
The strategy of buying what's in favor is a fool's errand, ensuring long-term underperformance. Only by standing against the prevailing winds - selectively, but resolutely - can an investor prosper over time. But for a while, a value investor typically underperforms.
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