A Quote by Eugene Fama
After costs, only the top 3% of managers produce a return that indicates they have sufficient skill to just cover their costs, which means that going forward, and despite extraordinary past returns, even the top performers are expected to be only as good as a low-cost passive index fund. The other 97% can be expected to do worse.
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Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.
Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that fund managers have been passive participants in corporate governance.
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.
A baby is expected. A trip is expected. News is expected. Forgetfulness is expected. An invitation is expected. Hope is expected. But memories are not expected. They just come.
If we obey God it is going to cost other people more than it costs us, and that is where the sting comes in. If we are in love with our Lord, obedience does not cost us anything, it is a delight, but it costs those who do not love Him a good deal.
There's a financial cost, but the only costs that are ever real are the costs of our soldiers.
Obviously, consideration of costs is key, including opportunity costs. Of course capital isn't free. It's easy to figure out your cost of borrowing, but theorists went bonkers on the cost of equity capital. They say that if you're generating a 100% return on capital, then you shouldn't invest in something that generates an 80% return on capital. It's crazy.
And, in the past, it has been all too easy for legislators to load costs onto business in order to meet broader social goals. And costs for business means costs for consumers.
In a growing number of states, you're actually expected to pay back the costs of your imprisonment. Paying back all these fees, fines, and costs may be a condition of your probation or parole. To make matters worse, if you're one of the lucky few who actually manages to get a job following release from prison, up to 100% of your wages can be garnished to pay back all those fees, fines and court costs. One hundred percent.
Marx was wrong: It is not only the 'means of production' that shape societies, but the means of destruction. In our own time, the costs of war, or just war readiness, are daunting. ... The resulting cost squeeze has led to a new type of society, perhaps best terms a 'depleted' state, in which the military has drained reources from all other social functions.
What are people released from prison expected to do? How are they expected to survive? Can't get a job, locked out of housing, and even food stamps may be off limits. Well, apparently what we expect them to do is to pay hundreds or thousands of dollars in fees, fines, court costs, and back child support (which continues to accrue while you are in prison).
Love is costly. T forgive in love costs us our sense of justice. To serve in love costs us time. To share in love costs us money. Every act of love costs us in some way, just as it cost God to love us. But we are to live a life of love just as Christ loves us and gave Himself for us at great cost to Himself.
If you are the top bowler in your team, you need to get the top batsman in the opposition. So it is expected and people just highlight that particular bit and make it sound like it is gamesmanship.
I run advertisements and sell T-shirts to cover overhead costs and pay the few people who help me out behind the scenes. Anything left over is spent on production costs, animation costs, etc.
It seems women are expected to be so much more than men, which means we have to work that much harder. We're the ones under the microscope. We're expected to sound perfect. We're expected to look perfect all the time. We're expected to be style-setters, whereas the boys roll onto the stage in their jeans, T-shirts and baseball caps.
Every country in the world is battling the rising cost of health care. No community anywhere has demonstrably lowered its health-care costs (not just slowed their rate of increase) by improving medical services. They've lowered costs only by cutting or rationing them.
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