William Bernstein on active fund management…

“There are two kinds of investors, be they large or small: those who don’t know where the market is headed, and those who don’t know that they don’t know. Then again, there is a third type of investor – the investment professional, who indeed knows that he or she doesn’t know, but whose livelihood depends upon appearing to know.”
William Bernstein, The Intelligent Asset Allocator
Explore posts in the same categories: Jokes in financial services, Mutual funds

One Comment on “William Bernstein on active fund management…”

  1. sukumaran Says:

    hey you are using a Nobel Laurette to hit out at the fund management industry. In fact I think there is increasing evidence to go for an index fund. What do we do for a living???

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