William J. Bernstein: Fund

William J. Bernstein is economist. Explore interesting quotes on fund.

William J. Bernstein: 58 quotes 0 likes

“In fact, the nation's biggest investment pools are the retirement funds of the large corporations and governmental bodies, such as the California Public Employees Retirement System (CALPERS), which manages an astounding $170 billion. These plans receive a level of professional management that even the nations wealthiest investors can only dream of.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 3, The Market Is Smarter Than You Are, p. 85.

Dreams

“It is often said that a monkey could run an index fund. Nothing could be further fro the truth. Precisely tracking an index requires a very high degree of market savvy, discipline and nerve.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 13, Defining Your Mix, p. 246.

Truth

“Wealthy investors should realize that they are the cash cows of the investment industry, and that most of the exclusive investment vehicles available to them - separate accounts, hedge funds, limited partnerships, and the like - are designed to bleed them with commissions, transactional costs, and other fees.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 8, Behavioral Therapy, p. 187.

Partnership

“The brokerage and mutual fund business form a financial colossus that bestrides modern financial, and increasingly, social and political life.”

William J. Bernstein

Introduction, p. xii.
The Four Pillars of Investing (2002)

Life , Business