Mutual Quotes - Page 38

• The United States and Israel have enjoyed a friendship built on mutual respect and commitment to democratic principles. Our continuing search for peace in the Middle East begins with a recognition that the ties uniting our two countries can never be broken.

  George W. Bush

  Country, Commitment, Ties

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• Ties of blood are not always ties of friendship; but friendship founded on merit, on esteem, and on mutual trust, becomes more vital and more tender when strengthened by the ties of blood.

  Lord Chesterfield

  Friendship, Blood, Ties

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• Whatever impatience we may feel towards our neighbor, and whatever indignation our race may rouse in us, we are chained one to another, and, companions in labour and misfortune, have everything to lose by mutual recrimination and reproach. Let us be silent as to each other's weakness, helpful, tolerant, many, tender towards each other! Or, if we cannot feel tenderness, may we at least feel pity!

  Henri Frederic Amiel

  Race, May, Weakness

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• I'm always amazed at the American practice of allowing one party to a homosexual act to remain passive--it's so undemocratic. Sexmust be mutual.

  W. H. Auden

  Party, Practice, Homosexuality

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• Nature's law says that the strong must prevent the weak from living, but only in a newspaper article or textbook can this be packaged into a comprehensible thought. In the soup of everyday life, in the mixture of minutia from which human relations are woven, it is not a law. It is a logical incongruity when both strong and weak fall victim to their mutual relations, unconsciously subservient to some unknown guiding power that stands outside of life, irrelevant to man.

  Anton Chekhov

  Nature, Strong, Fall

  "A Doctor's Visit". Short story by Anton Chekhov, 1898.

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• Surprise! The returns reported by mutual funds aren't actually earned by mutual fund investors.

  John C. Bogle

  Investing, Return, Surprise

  John C. Bogle (2010). “The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns”, p.48, John Wiley & Sons

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• Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds, and private equity funds, is an elaborate fraud.

  Michael Lewis

  Wall, Army, Dollars

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• Most of the mutual fund investments I have are index funds, approximately 75%.

  Charles R. Schwab

  Investing, Mutual Fund, Investment

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• Mutual fund manager performance does not persist and the return of stock picking is zero.

  William J. Bernstein

  Zero, Return, Doe

  William J. Bernstein (2002). “The Four Pillars of Investing”, McGraw Hill Professional

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• Santa Claus and the Easter Bunny should take a few pointers from the mutual-fund industry. All three are trying to pull off elaborate hoaxes. But while Santa and the bunny suffer the derision of eight year olds everywhere, actively-managed stock funds still have an ardent following among otherwise clear-thinking adults. This continued loyalty amazes me. Reams of statistics prove that most of the fund industry's stock pickers fail to beat the market.

  Jonathan Clements

  Loyalty, Easter, Thinking

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• I have become increasingly convinced that the past records of mutual fund managers are essentially worthless in predicting future success. The few examples of consistently superior performance occur no more frequently than can be expected by chance.

  Burton Malkiel

  Past, Example, Investing

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• In every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: "Past performance is no guarantee of future results."

  Paul Samuelson

  Past, Guarantees, Investing

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• 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

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• The general systems of money management today require people to pretend to do something they can't do and like something they don't. It's a funny business because on a net basis, the whole investment management business together gives no value added to all buyers combined. That's the way it has to work. Mutual funds charge two percent per year and then brokers switch people between funds, costing another three to four percentage points. The poor guy in the general public is getting a terrible product from the professionals.

  John C. Bogle

  Years, Two, People

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• 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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• 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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• Rip Van Winkle would be the ideal stock market investor: Rip could invest in the market before his nap and when he woke up 20 years later, he'd be happy. He would have been asleep through all the ups and downs in between. But few investors resemble Mr. Van Winkle. The more often an investor counts his money - or looks at the value of his mutual funds in the newspaper - the lower his risk tolerance.

  Richard Thaler

  Rip, Naps, Years

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• There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there's one responsibility that you must never delegate. You, and no one but you, must investigate whether an adviser is trustworthy and charges reasonable fees.

  Benjamin Graham

  Responsibility, Investing, Shame

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• The idea that a bell rings to signal when investors should get into or out of the stock market is simply not credible. After nearly fifty years in this business, I do not know of anybody who has done it successfully and consistently. I don't even know anybody who knows anybody who has done it successfully and consistently. Yet market timing appears to be increasingly embraced by mutual fund investors and the professional managers of fund portfolios alike.

  John C. Bogle

  Years, Ideas, Investing

  John C. Bogle (2010). “Common Sense on Mutual Funds”, p.28, John Wiley & Sons

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• What more degrades woman today than that she so often seeks marriage as a support? Why is the holy sacrament of love, the sanctity of the family state, so often prostituted and destroyed, but because marriage is entered upon as a necessity or a convenience? And what can so place marriage on its only true basis of mutual love, mutual fitness, mutual esteem, as for woman to make herself independent of it as a mere means of subsistence?

  Mary C. Ames

  Marriage, Mean, Independent

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• Although I don't know Paul McCartney, a mutual friend told me that Paul was reading my book, This Is Your Brain on Music, and stopped after chapter two. McCartney said he was concerned that if he learned more about how he does what he does (as far as composing music), he may not be able to do it anymore!

  Daniel Levitin

  Book, Reading, Two

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• I'll suffer no daughter of mine to play the fool with her heart, indeed! She shall marry for the purpose for which matrimony was ordained amongst people of birth--that is, for the aggrandisement of her family, the extending of their political influence--for becoming, in short, the depository of their mutual interest. These are the only purposes for which persons of rank ever think of marriage.

  Susan Edmonstone Ferrier

  Daughter, Heart, Thinking

  Susan Edmonstone Ferrier (1881). “Marriage [by S.E. Ferrier]. Edinb. ed”

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• Mutual content is like a river, which must have its banks on either side.

  Alain-Rene Lesage

  Rivers, Contentment, Sides

  Alain-Rene Lesage (2011). “The Adventures of Gil Blas of Santillane”, p.983, The Floating Press

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• The twentieth century had dispensed with the formal declaration of war and introduced the fifth column, sabotage, cold war, and war by proxy, but that was only the begining. Summit meetings for disarmament pursued mutual understanding and a balance of power but were also held to learn the strengths and weaknesses of the enemy. The world of the war-or-peace alternative became a world in which war was peace and peace war.

  Stanislaw Lem

  War, Understanding, Enemy

  Stanislaw Lem (2002). “Peace on Earth”, p.59, HMH

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• Nothing can be more delicate without being fantastical, nothing more firm and based in nature and sentiment, than the courtship and mutual carriage of the sexes.

  Ralph Waldo Emerson

  Sex, Carriages, Courtship

  Ralph Waldo Emerson (1981). “The Portable Emerson: New Edition”, p.317, Penguin

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