A Quote by William J. Bernstein

For the taxable investor, indexing means never having to say you're sorry. — © William J. Bernstein
For the taxable investor, indexing means never having to say you're sorry.

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While it is probably a poor idea to own actively managed funds in general, it is truly a terrible idea to own them in taxable accounts... taxes are a drag on performance of up to 4 percentage points each year... many index funds allow your capital gains to grow largely undisturbed until you sell... For the taxable investor, indexing means never having to say you're sorry.
If love means never having to say you're sorry, then marriage means always having to say everything twice.
I've never subscribed to that 'Love means never having to say you're sorry' bullshit. In fact, love means you always get the chance to say you're sorry. When we love someone, we always want to forgive them.
Love means never having to say you're sorry. Marriage means apologizing when you know you're right.
In that film Love Story, there's a line, "Love means never having to say you're sorry." That's the dumbest thing I ever heard. Love means saying you're sorry every day for some little thing or other.
Vasectomy means never having to say you're sorry.
Do what you say you're going to do. Follow through means never having to say you're sorry.
Being unapologetic means never having to say you're sorry.
Being an American means never having to say you're sorry.
Avant-garde means never having to say you're sorry.
Being a bureaucrat means never having to say you're sorry.
Love means never having to say you're sorry. That's why I never apologize to my mirror.
Being a politician means never having to say you're sorry. You don't have to say, 'I never should have voted to subsidize that ridiculous Enron project in India.' ... After all, they're greedy businessmen and you're a selfless public servant.
Love means never having to say you're sorry. However, it is with sincere regret that I must now kill all of you.
Smoking means always having to say you're sorry.
Love means not ever having to say you're sorry.
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