William J. Bernstein - Fact Quotes

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We tend to think of the stock and bond markets as relatively recent historical phenomena, but, in fact, there have been credit markets since human civilization first took root in the Fertile Crescent.

William J. Bernstein

In fact, the nation's biggest investment pools are the retirement funds of the large corporations and governmental bodies, such as the California Public Employees Retirement System (CALPERS), which manages an astounding $170 billion. These plans receive a level of professional management that even the nations wealthiest investors can only dream of.

William J. Bernstein

In fact, using entirely reasonable assumptions, you can make the Dow's discounted market value almost anything you want it to be.

William J. Bernstein

At a very early stage in history we are encountering "survivorship bias" - the fact that only the best results tend to show up in the history books.

William J. Bernstein