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In the long run, the investor is far better served by the compounding of low-cost returns than by chasing high returns with high costs.

compoundingcosts— The Index Revolution, 2016
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The hardest part of investing is not finding the best stocks. It is managing your own behavior.

behavioral-financediscipline— Various speeches and writings, 2005
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The investment management business is built on a simple and false premise: that talented professionals can systematically beat the market.

active-managementindex-investing— Winning the Loser's Game, 1985
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The average investor would be significantly better off if they indexed everything and stopped reading the financial press.

behavioral-financeindex-investing— Various interviews, 2010
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Amateur investors can beat market professionals simply by not trying to.

amateur-investingmarket-efficiency— The Loser's Game, Financial Analysts Journal, 1975