William J. Bernstein: Investment

William J. Bernstein is economist. Explore interesting quotes on investment.
William J. Bernstein: 58 quotes0 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.

“Ninety-nine percent of what you read about investing in magazines and newspapers, and 100% of what you hear on television is worse than useless.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 15, A Final Word, p. 297.

“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.

“Investing is not a destination. It is an ongoing journey through its four continents - theory, history, psychology and business.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 15, A Final Word, p. 297.

“The worst possible time to invest is when the skies are the clearest.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 2, Measuring The Beast, p. 66.

“In other words, since you cannot successfully time the market or select individual stocks, asset allocation should be the major focus of your investment strategy, because it is the only factor affecting your investment risk that you can control.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 4, The Perfect Portfolio, p. 108.

“Investment planning and execution are two completely different animals.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 14, Getting Started, Keeping It Going, p. 293.