When it comes to fund managers and market strategists, this year's hero usually turns into next year's zero. - William J. Bernstein

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When chimps threaten, they open their mouth and show their teeth. It's a little like waving a knife in front of you. It's very primitive, and therefore bizarre.

William J. Bernstein

When it comes to fund managers and market strategists, this year's hero usually turns into next year's zero.

Hero, Managers, Strategists, Years, Zero

Same Author Quotes

Bluntly put, there's no chance that your doctor, dentist, or attorney is a high-school dropout. Your stockbroker, however, just might be.

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The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.

Investing, Purpose, Return, Simply

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 what they don't know. Then again, there is a third type of investor: the investment professional, who indeed knows he doesn't know, but whose livelihood depends upon appearing to know.

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The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell.

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You have to understand your own psychology. You have to understand that human beings weren't really designed to invest. We have all these emotions that are appropriate responses if you're being chased by a tiger, but they're terrible responses if you've got a 30-year time horizon to think about investment or when you're trying to manage investment over 30 years.

Human, Investment, Psychology, Thinking, Years

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When chimps threaten, they open their mouth and show their teeth. It's a little like waving a knife in front of you. It's very primitive, and therefore bizarre.

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