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, 'What should I do about my stocks?' Morgan replied, 'Sell down to your sleeping point' Every… — Burton Malkiel Copy Share Image
Index funds have regularly produced rates of return exceeding those of active managers by close to 2 percentage points. Active management as a whole cannot achieve gross returns exceeding the market as a while and therefore they must, on average,… — 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 Image
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 Image
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 Image
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 Image
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 Image
It's not that stock prices are capricious. It's that the news is capricious. — Burton Malkiel Copy Share Image
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 Image
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 Image
