Properly measured, the average actively managed dollar must underperform the average passively managed dollar, net of costs. Empirical … - William Forsyth Sharpe - Quotesmemo.com

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Don't think about being the number one in the world, try instead to get through today's program as well as you can. Then we will see whether one day you'll end up as number one or number 100.

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William Forsyth Sharpe

Properly measured, the average actively managed dollar must underperform the average passively managed dollar, net of costs. Empirical analyses that appear to refute this principle are guilty of improper measurement.

Average, Dollars, Passively, Principle, Principles

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What if your advisor talks only about returns, not risk?. . . It's his job to take risk into account by telling you the range of possible outcomes you face. If he won't, go to a new planner, someone who will get real.

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Some investments do have higher expected returns than others. Which ones? Well, by and large they're the ones that will do the worst in bad times.

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Love is a beautiful dream.

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