Active Quotes - Page 27

• 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

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• 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

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• Still, I figure we shouldn't' discourage fans of actively managed funds. With all their buying and selling, active investors ensure the market is reasonably efficient. That makes it possible for the rest of us to do the sensible thing, which is to index. Want to join me in this parasitic behavior? To build a well-diversified portfolio, you might stash 70 percent of your stock portfolio into a Wilshire 5000-index fund and the remaining 30 percent in an international-index fund.

  Paul Samuelson

  Fans, Investing, Want

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

  Ronald Ross

  Games, Investing, Active Management

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• People would be a lot more skeptical if they understood that there is an incredible amount of chance in the results that you observe for active managers. So the distribution of outcomes is enormously wide - but that's exactly what you'd expect by chance with lots of active managers who hold imperfectly diversified portfolios. The really good portfolios contain a lot of really lucky picks, and the really bad portfolios contain a lot of really unlucky picks as well as some really bad ones.

  Eugene Fama

  People, Would Be, Lucky

  "A Father of Modern Finance" by Rebecca Rolfes, www.chicagobooth.edu. 2013.

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• 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.

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• The determining trait of the enterprising (or active, or aggressive) investor is his willingness to devote time and care to the selection of securities that are both sound and more attractive than the average.

  Benjamin Graham

  Average, Sound, Investing

  Benjamin Graham (2009). “The Intelligent Investor, Rev. Ed”, p.6, Harper Collins

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• As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven't done enough research into any of their companies. If managers have 200 positions, do you think they know what's going on at any one of those companies at this moment?

  Bill Ackman

  Ignorance, Thinking, Cover Ups

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• 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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• The pain of loss, moreover, however agonizing, however haunting in memory, quiets imperceptibly into acceptance as the currents of active living and of fresh emotions flow over it.

  Elizabeth Drew

  Pain, Memories, Acceptance

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• To make your spiritual yearning public, I thought, was to announce that you were wounded. To turn deeply into religion was to admit that your own resources were so weak you had to resort to magic and miracle cures for healing. To acquire faith was to mobilize the powers of an overly active imagination.

  Vanessa L Ochs

  Spiritual, Women, Healing

  Vanessa L. Ochs (1992). “Words on Fire: One Woman's Journey Into the Sacred”, Harvest Books

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• Successful people are usually more lively than those who are unsuccessful. The quickening of the spirit they feel comes out of their creativity, and success detaches them from the more rigid outlook on life - it puts them in the flow. So the shakers and movers, by their very nature, are moving faster, taking more risks, and investing more in the world than their less active counterparts.

  Stuart Wilde

  Success, Moving, Creativity

  Stuart Wilde (1998). “The Trick to Money is Having Some”, p.52, Hay House, Inc

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• Activity does not necessarily mean life. Quasars are active. And a monk meditating is not inanimate.

  Philip K. Dick

  Mean, Doe, Monk

  Philip K. Dick (2011). “A Scanner Darkly”, p.253, Houghton Mifflin Harcourt

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• Even if you find yourself in a heated exchange with your toddler, it is better for your child to feel the heat rather than for himto feel you withdraw emotionally.... Active and emotional involvement between parent and child helps the child make the limits a part of himself.

  Stanley Greenspan

  Children, Emotional, Parent

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• Either we, as a society, decide that copyright is the greater value to society, and take active steps to give up private communications as a concept. Either that, or we decide that the ability to communicate in private, without constant monitoring by authorities, has the greater value - in which case copyright will have to give way.

  Rick Falkvinge

  Giving Up, Communication, Way

  "'Avast ye scurvy file sharers!': Interview with Swedish Pirate Party leader Rickard Falkvinge". Wikinews Interview, June 20, 2006.

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• But reading is not idleness?it is the passive, receptive side of civilization without which the active and creative world would be meaningless. It is the immortal spirit of the dead realised within the bodies of the living. It is sacramental.

  Stephen Spender

  Reading, Civilization, Creative

  1980 Journal entry, 4 Jan.

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• The vices of idleness are only to be shaken off by active employment.

  Seneca the Younger

  Vices, Employment, Idleness

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• Volunteering is so pervasive it's invisible. We take for granted all the things that have been pioneered by concerned, active volunteers.

  Susan J. Ellis

  Helping Others, Volunteer, Invisible

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• That education is not an affair of "telling" and being told, but an active and constructive process, is a principle almost as generally violated in practice as conceded in theory. Is not this deplorable situation due to the fact that the doctrine is itself merely told? It is preached; it is lectured; it is written about.

  John Dewey

  Teacher, Teaching, Practice

  John Dewey (2015). “Democracy and Education: Top American Authors”, p.32, 谷月社

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• After the meditation session you have to be a little bit careful. If you start to think a lot of thoughts and become very active, you can prevent some of the meditative awareness from coming into your mind.

  Frederick Lenz

  Buddhism, Thinking, Meditation

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• Since everything in nature answers to a moral power, if any phenomenon remains brute and dark, it is that the corresponding faculty in the observer is not yet active.

  Ralph Waldo Emerson

  Dark, Power, Perception

  Ralph Waldo Emerson, Ronald A. Bosco, Joel Myerson (2015). “Ralph Waldo Emerson”, p.208, Harvard University Press

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• When you're shy, a camera becomes an entry into life. It was a kind of shield I could hide my shyness behind, and it allowed me to become an active observer rather than a passive one.

  Lynn Johnston

  Photography, Shields, Cameras

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• The time passes so quickly during these full and active middle years that most people arrive at the end of middle age and the beginning of later maturity with surprise and a sense of having finished the journey while they were still preparing to commence it.

  Robert J. Havighurst

  Maturity, Journey, Years

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• There is just no escaping the fact that the single biggest factor determining whether an organization is going to get healthier - or not - is the genuine commitment and active involvement of the person in charge.

  Patrick Lencioni

  Commitment, Escaping, Organization

  "The Advantage: Why Organizational Health Trumps Everything Else In Business". Book by Patrick Lencioni, 2012.

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• The Author is a play about responsibility, how active we are as spectators and how responsible we are for what we choose to look at.

  Tim Crouch

  Responsibility, Play, Looks

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