13+ Burton Malkiel Quotes On Education, Capitalism And Business

Burton Malkiel is an American economist, author, and investment advisor. He is best known for his 1973 book A Random Walk Down Wall Street, which popularized the efficient-market hypothesis. Malkiel has served on the board of directors of the Vanguard Group and has been a member of the faculty at Princeton University since 1967. Following is our collection on famous quotes by Burton Malkiel on leadership, education, capitalism.

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. — Burton Malkiel

I have become increasingly convinced that the past records of mutual fund managers are essentially worthless in predicting future success. The few examples of consistently superior performance occur no more frequently than can be expected by chance. — Burton Malkiel

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. — Burton Malkiel

It's not that stock prices are capricious. It's that the news is capricious. — Burton Malkiel

Index funds do not trade from security to security and, thus, they tend to avoid capital gains taxes. — Burton Malkiel

Many of us economists who believe in efficiency do so because we view markets as amazingly successful devices for reflecting new information rapidly and, for the most part, accurately. — Burton Malkiel

We conclude that hedge funds are far riskier and provide much lower returns than commonly supposed. — Burton Malkiel

The surest way to find an actively managed fund that will have top-quartile returns is to look for a fund that has bottom-quartile expenses. — Burton Malkiel

Stupidity well packaged can sound like wisdom. — Burton Malkiel

Never buy anything from someone who is out of breath. — Burton Malkiel

It's like giving up a belief in Santa Claus. — Burton Malkiel

Historically, the stock market is like a gambling casino with the odds in your favor. Over the long pull, stocks are given something like nine and a half to ten percent compounded per year. The banks have probably given you something in the order of four to five. — Burton Malkiel

Trust in time rather than timing. — Burton Malkiel

Life Lessons by Burton Malkiel

1. Burton Malkiel's work emphasizes the importance of diversifying investments and avoiding speculative investments.
2. He also emphasizes the importance of having a long-term investment strategy rather than trying to time the market.
3. His work also highlights the importance of understanding the risks associated with investing and taking a disciplined approach to investing.