Index funds do not trade from security to security and, thus, they tend to avoid capital gains taxes. — Burton Malkiel Copy Share Image
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… — Burton Malkiel Copy Share
J.P. Morgan once had a friend who was so worried about his stock holdings that he could not sleep at night. The friend asked,… — Burton Malkiel Copy Share
Index funds have regularly produced rates of return exceeding those of active managers by close to 2 percentage points. Active management as a whole… — Burton Malkiel Copy Share
Index funds are... tax friendly, allowing investors to defer the realization of capital gains or avoid them completely if the shares are later bequeathed.… — Burton Malkiel Copy Share
Experience conclusively shows that index-fund buyers are likely to obtain results exceeding those of the typical fund manager, whose large advisory fees and substantial… — Burton Malkiel Copy Share
It's not that stock prices are capricious. It's that the news is capricious. — Burton Malkiel Copy Share
Many of us economists who believe in efficiency do so because we view markets as amazingly successful devices for reflecting new information rapidly and,… — Burton Malkiel Copy Share
Historically, the stock market is like a gambling casino with the odds in your favor. Over the long pull, stocks are given something like… — Burton Malkiel Copy Share
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 Copy Share
We conclude that hedge funds are far riskier and provide much lower returns than commonly supposed. — Burton Malkiel Copy Share
I have become increasingly convinced that the past records of mutual fund managers are essentially worthless in predicting future success. The few examples of… — Burton Malkiel Copy Share
