“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.

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William J. Bernstein 29

economist 1948

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

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William J. Bernstein 29

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