20 Quotes by Burton G. Malkiel

There is one investment truism that, if followed, can dependably increase your investment returns: Minimize your investment costs. We.

In the 1990s, the ratio of buy to sell recommendations climbed to 100 to 1, particularly for brokerage firms with large investment banking businesses.

Forecasts are difficult to make – particularly those about the future.

Finding the next Warren Buffett is like looking for a needle in a haystack. We recommend that you buy the haystack instead, in the form of a low-cost index fund.

And if you buy the new issue after it begins trading, usually at a higher price, you are even more certain to lose.

In crowds it is stupidity and not mother-wit that is accumulated,” Gustave Le Bon noted in his 1895 classic on crowd psychology.

You will never be allowed to buy the really good IPOs at the initial offering price. The hot IPOs are snapped up by the big institutional investors or the very best wealthy clients of the underwriting firm.

The index performance is not mediocre – it exceeds the results achieved by the typical active manager.

For many of us, trying to outguess the market is a game that is much too much fun to give up. Even if you were convinced you would not do any better than average, I’m sure that most of you with speculative temperaments would still want to keep on playing the game of selecting individual stocks with at least some portion of the money you invest.