Burton G. Malkiel Quotes

A firm's income statement may be, likened to a bikini-what it reveals is interesting but what it conceals is vital.

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.

Put time on your side. Start saving early and save regularly. Live modestly and don't touch the money that's been set aside.

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

Diversify across securities, across asset classes, across markets—and across time.

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...

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

You should diversify over time. Don’t make all your investments at a single time. If

It is not hard to make money in the market.

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...

These very sad stories make all too clear the cardinal rule of investing: Broad diversification is essential.

The greatest of all gifts is the power to estimatethings at their true worth.

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.

There are four factors that create irrational market behavior: overconfidence, biased judgments, herd mentality, and loss aversion.

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...

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...

As in so many human endeavors, the secrets to success are patience, persistence, and minimizing mistakes. In driving, it’s having no serious accidents; in tennis, the key is getting the ball back; and...

Protect yourself: Every investor should always diversify.

Never buy anything from someone who is out of breath.

Tip of the Week If you bought $1,000 worth of Nortel stock one year ago, it would now be worth $49. If you bought $1,000 worth of Budweiser (the beer, not the stock) one year ago, drank all the beer,...