William Forsyth Sharpe Quotes
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Properly measured, the average actively managed dollar must underperform the average passively managed dollar, net of costs. Empirical analyses that appear to refute this principle are guilty of improper measurement.
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Love is a beautiful dream.
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Some investments do have higher expected returns than others. Which ones? Well, by and large they're the ones that will do the worst in bad times.
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[What if my advisor talks only about returns, not risk?] ... It's his job to take risk into account by telling you the range of possible outcomes you face. If he won't, go get a new planner, someone who will get real.
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