William J. Bernstein - Time Quotes

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Value stock returns are impossible to estimate using the traditional methods, because most of the excessive return arises from the slow improvement in valuations that occurs as doggy stocks become less doggy over time.

William J. Bernstein

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.

William J. Bernstein

The worst possible time to invest is when the skies are the clearest.

William J. Bernstein