William J. Bernstein Quote

In other words, since you cannot successfully time the market or select individual stocks, asset allocation should be the major focus of your investment strategy, because it is the only factor affecting your investment risk that you can control.


Chapter 4, The Perfect Portfolio, p. 108. - The Four Pillars of Investing (2002)


In other words, since you cannot successfully time the market or select individual stocks, asset allocation should be the major focus of your...

In other words, since you cannot successfully time the market or select individual stocks, asset allocation should be the major focus of your...

In other words, since you cannot successfully time the market or select individual stocks, asset allocation should be the major focus of your...

In other words, since you cannot successfully time the market or select individual stocks, asset allocation should be the major focus of your...