Active Quote by Robert Haugen

Hint: money flows into most funds after good performance, and goes out when bad performance follows.

— John C. Bogle

A minuscule 4 percent of funds produce market-beating after-tax results with a scant 0.6 percent (annual) margin of gain. The 96 percent of funds…

— David F. Swensen

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

Mutual funds with superior performance records often falter.

— John C. Bogle

We can extrapolate from the study that for the long term individual investor who maintains a consistent asset allocation and leans toward index funds,…

— Roger G. Ibbotson

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

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

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

Investors that do the best, and have done the best, are those that stay and compound at above-average rates over the long term.

— John Paulson

... skepticism about past returns is crucial. The truth is, much as you may wish you could know which funds will be hot, you…

— Bethany McLean

Both a priori reasoning and experience teach us that as as these funds grow larger the geometrical rate of growth by compound interest ultimately…

— Benjamin Graham

Invest in low-turnover, passively managed index funds... and stay away from profit-driven investment management organizations... The mutual fund industry is a colossal failure... resulting…

— David F. Swensen