Latest William J. Bernstein Quotes from Interviews

• You have to ask yourself, what are the things that matter to you most in your life? If you have to have a latte every day that'snice to have right now, but if you take that latte every day right now, you may wind up eating cat food when you are 70. And you have to decide which is worse.

  William J. Bernstein

  Cat, Wind, May

  "A Young Person's Guide To Getting Rich Slowly". Interview with Robin Young, www.npr.org. June 16, 2014.

• The key thing about any fund is to make sure its expenses are low. You know, if you look at the funds in your plan and you see that they're all charging 1.5 and 2 percent,you've gota bad plan.

  William J. Bernstein

  Keys, Looks, Lows

  "A Young Person's Guide To Getting Rich Slowly". Interview with Robin Young, www.npr.org. June 16, 2014.

• All the things that make us human make us terrible investors and you have to understand what they are and how to avoid them.

  William J. Bernstein

  Terrible, Humans, Investors

  Source: www.npr.org

• The definition of investment is the deferring ofpresent consumption for future consumption. So, you dohave to be willing to defer. And there are a couple of tricks that you can use to save money. One of them is simply to pay yourself first.

  William J. Bernstein

  Couple, Use, Definitions

  "A Young Person's Guide To Getting Rich Slowly". Interview with Robin Young, www.npr.org. June 16, 2014.

• You have to understand your own psychology. You have to understand that human beings weren't really designed to invest. We have all these emotions that are appropriate responses if you're being chased by a tiger, but they're terrible responses if you've got a 30-year time horizon to think about investment or when you're trying to manage investment over 30 years.

  William J. Bernstein

  Thinking, Years, Psychology

  Source: www.npr.org

• You have to understand what market history looks like. What market history tells you is that the very, very best investments are made when things look the worst.

  William J. Bernstein

  Looks, Investment, Made

  Source: www.npr.org

• The key aspect of an index fund is that many of them, not all of them, but many of them are extremely cheap.

  William J. Bernstein

  Keys, Aspect, Fund

  "< A Young Person's Guide To Getting Rich Slowly". www.npr.org. June 16, 2014.

• A fast food job, for most people, should be an entry level position. If you see no path for advancement beyond that, it's time to take a real fast look at your human capital and learn a skill that will make you more money.

  William J. Bernstein

  Jobs, Real, Skills

  Source: www.npr.org

• An index fund is a fund that simply invests in all of the stocks in a market. So, for example, an index fund might invest in every single stock or almost every single stock in the U.S. market, it might invest in every single stock abroad, or it might invest in all of the bonds that are out there. And you can make a perfectly fine investing portfolio that mixes equal parts of all three of those.

  William J. Bernstein

  Example, Three, Investing

  Source: www.npr.org