Algunas de mis favoritas de Rick Ferri. Sobre todo la primera.
There are three universal laws in the investment business: expected return is a function of risk, active management is a triumph of marketing, and alpha goes to the manager.
Past fund performance tends to stay in the past.
There is only one beta, and it is the market. Everything else is marketing spin.
The (investment) industry was all about making money from you, not for you.
There is nothing an adviser does for 1.0 percent that they can’t do for much less and still make a fair profit.
Medieval medicine and active fund management have a lot in common. They both have a success rate that’s based mostly on faith rather than scientific fact.
I wish mutual fund companies were required to pay $1 toward the national debt every time one of their representatives said their company’s goal is to participate in the market upside while preserving capital on the downside. The deficit would be eliminated in a year.
Rebalance — it’s that simple. This time is not different.
The optimal portfolio does exist — just like the winning Mega Millions lottery numbers exist.
Guru predictions are not investment advice — they are entertainment.