David F. Swensen Quotes About Mutual Funds

• Most active mutual funds are more interested in collecting fees than in boosting returns for investors.

  David F. Swensen

  Investing, Return, Mutual Fund

  "Yale’s Swensen Says Index Funds Best Plan for Most Investors" by Kelly Bit, www.bloomberg.com. January 31, 2012.

• Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises.

  David F. Swensen

  Sleep, Night, Promise

• 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 from its systematic exploitation of individual investors... as funds extract enormous sums from investors in exchange for providing a shocking disservice... Excessive management fees take their toll, and manager profits dominate fiduciary responsibility.

  David F. Swensen

  Responsibility, Organization, Systematic

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