Active Management Quotes

• Index investing outperforms active management year after year.

  Jim Rogers

  Years, Investing, Management

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• Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows.

  Jim Rogers

  Investing Money, Years, World

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• Most investors would be better off in an index fund.

  Peter Lynch

  Would Be, Investing, Fund

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• 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.

  William Forsyth Sharpe

  Average, Principles, Dollars

  "Do You Want to Be Just Average?" by Larry Swedroe, www.cbsnews.com. June 9, 2010.

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• Commodities tend to zig when the equity markets zag.

  Jim Rogers

  Commodity, Equity, Private Equity

  "Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market". Book by Jim Rogers, March 27, 2007.

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• Do not buy the hype from Wall St. and the press that stocks always go up. There are long periods when stocks do nothing and other investments are better.

  Jim Rogers

  Wall, Hype, Long

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• Get inside information from the president and you will probably lose half of your money. If you get it from the chairman of the board, you will lose all of it.

  Jim Rogers

  President, Boards, Investing

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• ... the best way to own common stocks is through an index fund.

  Warren Buffett

  Way, Common, Fund

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• Las organizaciones que fracasan suelen estar sobregestionadas y mal dirigidas.

  Warren G. Bennis

  Liderazgo, Empresa, Fracaso

  "Sabiduría, honor y esperanza: el camino interior hacia la verdadera grandeza". Libro de Cecil O. Kemp, Jr., 1 de mayo de 2000.

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• Todo el mundo tiene una estrategia diferente, pero todo el mundo está de acuerdo en que la gestión activa no bate al mercado.

  Tony Robbins

  Doe, Different, Strategy

  Fuente: www.chicagotribune.com

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• It is very hard, if not impossible," he wrote in his study, "to justify active management for most individual, taxable investors, if their goal is to grow wealth." And he said that those who still insist on an actively managed fund are almost certainly "deluding themselves.

  Mark Hulbert

  Goal, Investing, Impossible

  4 Copiar cita

• Active management strategies demand uninstitutional behavior from institutions, creating a paradox that few can unravel. Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom.

  David F. Swensen

  Independent, Eye, Acceptance

  David F. Swensen (2009). “Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment, Fully Revised and Updated”, p.8, Simon and Schuster

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• Active management is a zero-sum game before cost, and the winners have to win at the expense of the losers.

  Eugene Fama

  Zero, Winning, Games

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• I can't figure out why anyone invests in active management, so asking me about hedge funds is just an extreme version of the same question. Since I think everything is appropriately priced, my advice would be to avoid high fees. So you can forget about hedge funds.

  Eugene Fama

  Thinking, Advice, Would Be

  40 Copiar cita

• Index funds have regularly produced rates of return exceeding those of active managers by close to 2 percentage points. Active management as a whole cannot achieve gross returns exceeding the market as a while and therefore they must, on average, underperform the indexes by the amount of these expense and transaction costs disadvantages.

  Burton Malkiel

  Average, Cost, Investing

  11 Copiar cita

• Active management is little more than a gigantic con game.

  Ronald Ross

  Games, Investing, Littles

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• My career in academic research has not been involved with active management of securities. I've tried to understand risk-and-return relationships; also the pricing of derivative securities.

  Myron Scholes

  Careers, Risk, Research

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