Draws Quote by 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

The debate can be put in the form of the question: Resolved, that the best of money managers cannot be demonstrated to be able…

— Paul Samuelson

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

— John C. Bogle

Investment success accrues not so much to the brilliant as to the disciplined.

— William J. Bernstein

Perhaps there really are managers who can outperform the market consistently - logic would suggest that they exist. But they are remarkably well-hidden.

— Paul Samuelson

Great enterprises usually promise vastly more than they perform.

— Mark Twain

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

— Richard H. Thaler

“Our research suggests that companies on average deliver only 63% of the financial performance their strategies promise.”

— Michael C. Mankins

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

Everybody has a different strategy, but everybody agrees that active management does not beat the market.

— Tony Robbins

There's more honor in investment management than in investment banking.

— Charlie Munger

Managers in all too many American companies do not achieve the desired results because nobody makes them do it.

— Anonymous