Able Quote by Paul Samuelson

Fund investors are confident that they can easily select superior fund managers. They are wrong.

— John C. Bogle

All but a few of the organizations do not specifically promise to deliver superior investment performance although it is perhaps not unreasonable for the…

— Warren Buffett

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

“professional money managers perform no better than simple market averages,”

— Richard H. Thaler

After costs, only the top 3% of managers produce a return that indicates they have sufficient skill to just cover their costs, which means…

— Eugene Fama

All the time and effort people devote to picking the right fund, the hot hand, the great manager have, in most cases, led to…

— Peter Lynch

... Any pension fund manager who doesn't have the vast majority-and I mean 70% or 80% of his or her portfolio-in passive investments is…

— Merton Miller

Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund.…

— Ron Chernow

Money managers have to account for their actions to their shareholders, which means they have an undue fear of underperformance. We invest only our…

— Richard Chandler

It's easy to identify many investment managers with great recent records. But past results, though important, do not suffice when prospective performance is being…

— Warren Buffett

“The process of intelligently building a portfolio consists of buying the best investments, making room for them by selling lesser ones, and staying clear…

— Howard Marks

To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.

— Benjamin Graham