William J. Bernstein Quote

Wealthy investors should realize that they are the cash cows of the investment industry, and that most of the exclusive investment vehicles available to them - separate accounts, hedge funds, limited partnerships, and the like - are designed to bleed them with commissions, transactional costs, and other fees.


Chapter 8, Behavioral Therapy, p. 187. - The Four Pillars of Investing (2002)

Picture Quote 1

Wealthy investors should realize that they are the cash cows of the investment industry, and that most of the exclusive investment vehicles available ...

Picture Quote 2

Wealthy investors should realize that they are the cash cows of the investment industry, and that most of the exclusive investment vehicles available ...

Picture Quote 3

Wealthy investors should realize that they are the cash cows of the investment industry, and that most of the exclusive investment vehicles available ...

Picture Quote 4

Wealthy investors should realize that they are the cash cows of the investment industry, and that most of the exclusive investment vehicles available ...