William J. Bernstein: Market

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

William J. Bernstein: 58 quotes 0 likes

“In fact, using entirely reasonable assumptions, you can make the Dow's discounted market value almost anything you want it to be.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 2, Measuring The Beast, p. 53.

“If markets were truly efficient, then you shouldn't be able to make any money rebalancing.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 14, Getting Started, Keeping It Going, p. 290.

Money

“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

“We tend to think of the stock and bond markets as relatively recent historical phenomena, but, in fact, there have been credit markets since human civilization first took root in the Fertile Crescent.”

William J. Bernstein

Source: The Four Pillars of Investing (2002), Chapter 1, No Guts, No Glory, p. 6.

Thinking

“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.

Time