Accounts Quote by William J. Bernstein

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

For the taxable investor, indexing means never having to say you're sorry.

— William J. Bernstein

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

— Burton Malkiel

Still, I figure we shouldn't' discourage fans of actively managed funds. With all their buying and selling, active investors ensure the market is reasonably…

— Paul Samuelson

Even fans of actively managed funds often concede that most other investors would be better off in index funds. But buoyed by abundant self-confidence,…

— Paul Samuelson

Managed funds are astonishingly tax-inefficient.

— John C. Bogle

It is very hard, if not impossible," he wrote in his study, "to justify active management for most individual, taxable investors, if their goal…

— Mark Hulbert

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

The key aspect of an index fund is that many of them, not all of them, but many of them are extremely cheap.

— William J. Bernstein

Most investors would be better off in an index fund.

— Peter Lynch

Plenty of funds have fine long-term returns despite being tax-inefficient and generally costly. But a dirty secret is this: Average, no-load fund investors do…

— Kenneth Fisher

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