A Quote by Burton Malkiel
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.
Related Quotes
A patient doesn't select his physical ailments. They happen to him. You could just as well ask when you are eaten by a crocodile, 'How did you select that crocodile?'. Nonsense. He has selected you. The patient doesn't even select the symptoms unconsciously. That is an extraordinary exaggeration of the subject to say he was choosing such things. They get him.
There are domains in which expertise is not possible. Stock picking is a good example. And in long-term political strategic forecasting, it's been shown that experts are just not better than a dice-throwing monkey.
If you had a system that could read all the pages and understand the context, instead of just throwing back 26 million pages to answer your query, it could actually answer the question. You could ask a real question and get an answer as if you were talking to a person who read all those millions and billions of pages, understood them, and synthesized all that information.
By using our international network, utilising templates and thinking ahead with pre-planned pages that contain carefully selected relevant news, we can deliver stories that other people just don't have. And that will release resources for the web.
I learned early on that I could get a lot of attention by singing and writing little songs, so it was like throwing nuts to a monkey... I just couldn't get enough.
When I was in my routine training for the Israeli army as a teenager, they discovered completely by chance that I was a lethal sniper. I could hit the target smack in the center further away than anyone could believe. Not just that, even though I was tiny and not even much of an athlete, I was incredibly accurate throwing hand grenades too. Even today I can load a Sten automatic rifle in a single minute, blindfolded.
Picture this," said Magnus. "Me with a little monkey friend. I could teach him tricks. I could dress him in a cunning jacket. He could look just like me! But more monkey-shaped.
I would say darts is probably 15 per cent throwing. The rest of it is mental strength. Being able to hold your nerve.
Creative innovation requires knowing something. You can't just be a monkey throwing paint on a canvas. It's the 10,000-hour rule: You need to know something well enough to make something new.
If I was to really get at the burr in my saddle, it's not politics - and this is, I think, probably a horrible analogy - but I look at politicians as they are doing what inherently they need to do to retain power. Their job is to consolidate power. When you go to the zoo and you see a monkey throwing poop, you go, 'That's what monkeys do, what are you gonna do?' But what I wish the media would do more frequently is say, 'Bad monkey.'
Diversifying sufficiently among uncorrelated risks can reduce portfolio risk toward zero. But financial engineers should know that's not true of a portfolio of correlated risks.
Charles Darwin wrote a famous book in 18 [gibberish]. And that book was an interesting book, cuz it was called "Monkey-Monkey-Monkey-Monkey-Monkey-Monkey-You".
I was lifelong Democrat just because, well, you know, monkey-see, monkey-do. I was just doing everything that my family was doing.
Darts should definitely be in the Olympic Games. Can you tell me any difference between archery and darts or shooting and darts? It's a very similar concept and both of those are in the Olympic Games. And don't forget that darts is also a hugely popular sport.
People without financial knowledge, who take advice from financial experts are like lemmings simply following their leader. They race for the cliff and leap into the ocean of financial uncertainty, hoping to swim to the other side.
I could be blindfolded and dropped into the deepest ocean and I would know where to find you. I could be buried a hundred miles underground and I would know where you are.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist