“ A firm's income statement may be, likened to a bikini-what it reveals is interesting but what it conceals is vital. Burton G. Malkiel
“ I view investing as a method of purchasing assets to gain profit in the form of reasonably predictable income (dividends, interest, or rentals) and /or appreciation over the long term. Burton G. Malkiel
“ Put time on your side. Start saving early and save regularly. Live modestly and don't touch the money that's been set aside. Burton G. Malkiel
“ In crowds it is stupidity and not mother-wit that is accumulated, Gustave Le Bon noted in his 1895 classic on crowd psychology. Burton G. Malkiel
“ Diversify across securities, across asset classes, across markets—and across time. Burton G. Malkiel
“ In the 1990s, the ratio of buy to sell recommendations climbed to 100 to 1, particularly for brokerage firms with large investment banking businesses. Burton G. Malkiel
“ You should diversify over time. Don’t make all your investments at a single time. If Burton G. Malkiel
“ These very sad stories make all too clear the cardinal rule of investing: Broad diversification is essential. Burton G. Malkiel
“ There are four factors that create irrational market behavior: overconfidence, biased judgments, herd mentality, and loss aversion. Burton G. Malkiel
“ It is the definition of the time period for the investment return and the predictability of the returns that often distinguish an investment from a speculation. A speculator buys stocks hoping for a s… Burton G. Malkiel
“ Note also that during the punishing bear market of 2007–2008, new record withdrawals were made by investors who threw in the towel and sold their mutual fund shares—at record lows—just before the firs… Burton G. Malkiel
“ Investors should avoid any urge to forecast the stock market. Forecasts, even forecasts by recognized experts, are unlikely to be better than random guesses. It will fluctuate, declared J. P. Morgan w… Burton G. Malkiel
“ You could talk about Prohibition, or Hemingway, or air conditioning, or music, or horses, but in the end you had to talk about the stock market, and that was when the conversation became serious. Burton G. Malkiel
“ The largest, longest study of experts’ economic forecasts was performed by Philip Tetlock, a professor at the Haas Business School of the University of California–Berkeley. He studied 82,000 predictio… Burton G. Malkiel
“ Average Annual Returns of Actively Managed Mutual Funds Compared with S&P 500 20 years, Ending June 30, 2012 Sources: Lipper, Wilshire, and The Vanguard Group. S&P 500 Index Fund 8.34% Average Active… Burton G. Malkiel
