Burton Malkiel

Never buy anything from someone who is out of breath.

— Burton Malkiel

A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would do just as well as one…

— Burton Malkiel

J.P. Morgan once had a friend who was so worried about his stock holdings that he could not sleep at night. The…

— Burton Malkiel

Trust in time rather than timing,

— Burton Malkiel

Index funds have regularly produced rates of return exceeding those of active managers by close to 2 percentage points. Active management as…

— Burton Malkiel

Index funds are... tax friendly, allowing investors to defer the realization of capital gains or avoid them completely if the shares are…

— Burton Malkiel

Experience conclusively shows that index-fund buyers are likely to obtain results exceeding those of the typical fund manager, whose large advisory fees…

— Burton Malkiel

It's not that stock prices are capricious. It's that the news is capricious.

— Burton Malkiel

Many of us economists who believe in efficiency do so because we view markets as amazingly successful devices for reflecting new information…

— Burton Malkiel

Stupidity well packaged can sound like wisdom.

— Burton Malkiel

Historically, the stock market is like a gambling casino with the odds in your favor. Over the long pull, stocks are given…

— Burton Malkiel

It's like giving up a belief in Santa Claus.

— Burton Malkiel

The surest way to find an actively managed fund that will have top-quartile returns is to look for a fund that has…

— Burton Malkiel

We conclude that hedge funds are far riskier and provide much lower returns than commonly supposed.

— Burton Malkiel

I have become increasingly convinced that the past records of mutual fund managers are essentially worthless in predicting future success. The few…

— Burton Malkiel

Index funds do not trade from security to security and, thus, they tend to avoid capital gains taxes.

— Burton Malkiel