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)


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

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

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

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