Expert Opinions

"Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees." 

     — Warren Buffet, Chairman, Berkshire Hathaway

"Invest in index funds. Your odds of beating the market in an actively managed fund are less than 1 in 100."
     — David Swensen, Chief Investment Officer, Yale Endowment Fund

"Don't try to beat the market, and don't believe anyone who tells you they can—not a stock broker, a friend with a hot stock tip, or a financial magazine article touting the latest mutual fund." 

     — Burton Malkiel, Professor of Economics, Princeton University

"All the time and effort that people devote to picking the right fund, the hot hand, the great manager, have in most cases led to no advantage." 

     — Peter Lynch, author of "Beating the Street" and famed manager of Fidelity Magellan

“There are two kinds of investors, be they large or small:  those who don’t know where the market is headed and those who don’t know what they don’t know.  Then again, there is a third type of investor: the investment professional, who indeed knows he doesn’t know, but whose livelihood depends upon appearing to know.” 

     — William Bernstein, author of "The Four Pillars of Investing"

"Risk can't be eliminated. It's the price we pay for potential return. But risk can be managed to help minimize the possibility that any single risk exposure, or combination of exposures, will devastate a portfolio."

    — John Hollyer, Vanguard Risk Management and Strategic Analysis Group