"Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund. Then, it is more difficult for them to beat the market averages or even to match their own past performance."

Money, Successful, Performance, Managers

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"Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund. Then, it is more difficult for them to beat the market averages or even to match their own past performance."

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"In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms."

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"After 1929, so many people had been traumatized by the stock market crash that there was a lost generation."

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"Writing about dead white males seems to be out of favor among academics."

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"Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes."

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"I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives."

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