A Quote by Seth Klarman

The average person can’t really trust anybody. They can’t trust a broker, because the broker is interested in churning commissions. They can’t trust a mutual fund, because the mutual fund is interested in gathering a lot of assets and keeping them. And now it’s even worse because even the most sophisticated people have no idea what’s going on.

Seth Klarman

Quote Topics

Anybody Assets Average Average Person Because Broker Churning Even Even Worse Fund Gathering Going Idea Interested Keeping Lot Most Mutual Mutual Fund No Idea Now People Person Really Sophisticated Them Trust Worse

Quote Author

Seth Klarman
American - Author
Born: May 21, 1957

There are a lot worse things you can do with all your bucks than giving them to even a mediocre mutual fund - such as, for example, giving them to a mediocre hedge fund. If supporting the lifestyle of a mediocre fund manager is your favorite charity, who am I to stop you?

Gary Weiss

You either have to find a way to be really creative materially, or you better have a trust fund. And, last I checked, I didn't have a trust fund.

Mark Bradford

Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund. Then, it is more difficult for them to beat the market averages or even to match their own past performance.

Ron Chernow

For it is mutual trust, even more than mutual interest that holds human associations together.

H. L. Mencken

I believe Washington should be a more active participant focusing on the issue of why corporate shareholders and mutual fund shareholders are not given fair treatment by corporate management and mutual fund management. We need to develop a national standard of fiduciary duty to ensure that these agents, if you will, are adequately representing the principles - pension beneficiaries and mutual fund shareholders - whom they are duty bound to serve.

John C. Bogle

The idea that a bell rings to signal when investors should get into or out of the stock market is simply not credible. After nearly fifty years in this business, I do not know of anybody who has done it successfully and consistently. I don't even know anybody who knows anybody who has done it successfully and consistently. Yet market timing appears to be increasingly embraced by mutual fund investors and the professional managers of fund portfolios alike.

John C. Bogle

I want to share that I had and still do, and a great relationship with Angela Ahrendts. She was the CEO of Burberry. One of the things that I saw her do at Burberry was that every person she screened for a job, they had to go through the trust test. Do they understand what trust even means. Do they consider it in their life. If people didn't pass that part of the test, they didn't get into Burberry, because she wanted a team. It was extraordinary to be with her, because she brought them to the height of their best behaviors, including trust, which is the most important thing here.

Judith E. Glaser

If you don't like the idea that most of the money spent on lottery tickets supports government programs, you should know that most of the earnings from mutual funds support investment advisors' and mutual fund managers' retirement.

Robert Kiyosaki

I find I like to work with a lot of the same actors, because I find that there's sort of shorthand there, and there is this unspoken trust, both ways. They trust me and I trust them. And I know what I'm going to get from them, to an extent. It's just fun, kind of creating this little family.

Todd Phillips

Our standard prescription for the know-nothing investor with a long-term time horizon is a no-load index fund. I think that works better than relying on your stock broker. The people who are telling you to do something else are all being paid by commissions or fees. The result is that while index fund investing is becoming more and more popular, by and large it's not the individual investors that are doing it. It's the institutions.

Charlie Munger

I'm super reserved in letting people in my house. A lot of guys don't trust anybody in their homes but they would trust somebody like me because I've been there.

Iman Shumpert

There may be less of a chance of losing all the money you put into a mutual fund than there is of losing all the money you put into lottery tickets, but you're never going to win big in a mutual fund.

Robert Kiyosaki

The reason Trust is requested is because the person seeking Trust realizes that Trust is the key to Yes.

Jeffrey Gitomer

In every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: "Past performance is no guarantee of future results."