“
The investment management business is built on a simple and false premise: that talented professionals can systematically beat the market.
“
The average investor would be significantly better off if they indexed everything and stopped reading the financial press.
“
A blindfolded monkey throwing darts at a newspaper's financial pages could select a portfolio that would do just as well as one carefully selected by experts.
“
The only investors who should not diversify are those who are right 100% of the time.
“
Most investors would be better off in an index fund. Rarely does one find a manager who is consistently superior.