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A fast food job, for most people, should be an entry level position. If you see no path for advancement beyond that, it's time to take a real fast look at your human capital and learn a skill that will make you more money.
William J. Bernstein
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William J. Bernstein
Age: 76
Born: 1948
Born: January 1
Author
Chemist
Economist
Neurologist
Writer
Real
Learn
Fast
Make
Jobs
Skills
Time
Money
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People
Look
Beyond
Human
Levels
Entry
Humans
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Advancement
Looks
Food
Skill
Take
Path
Capital
More quotes by William J. Bernstein
It's bad enough that you have to take market risk. Only a fool takes on the additional risk of doing yet more damage by failing to diversify properly with his or her nest egg. Avoid the problem-buy a well-run index fund and own the whole market.
William J. Bernstein
99% of fund managers demonstrate no evidence of skill whatsoever.
William J. Bernstein
The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell.
William J. Bernstein
Wall Street is littered with the bones of those who knew just what to do, but could not bring themselves to do it.
William J. Bernstein
Mutual fund manager performance does not persist and the return of stock picking is zero.
William J. Bernstein
The deeper one delves, the worse things look for actively managed funds.
William J. Bernstein
There are two kinds of investors, be thay large or small: those who don't know where the market is headed, and those who don't know that they don't know.
William J. Bernstein
You have to ask yourself, what are the things that matter to you most in your life? If you have to have a latte every day that'snice to have right now, but if you take that latte every day right now, you may wind up eating cat food when you are 70. And you have to decide which is worse.
William J. Bernstein
No one in his right mind would walk into the cockpit of an airplane and try to fly it, or into an operating theater and open a belly. And yet they think nothing of managing their retirement assets. I've done all three, and I'm here to tell you that managing money is, in its most critical elements even more demanding than the first two.
William J. Bernstein
The key thing about any fund is to make sure its expenses are low. You know, if you look at the funds in your plan and you see that they're all charging 1.5 and 2 percent,you've gota bad plan.
William J. Bernstein
The definition of investment is the deferring ofpresent consumption for future consumption. So, you dohave to be willing to defer. And there are a couple of tricks that you can use to save money. One of them is simply to pay yourself first.
William J. Bernstein
Investment success accrues not so much to the brilliant as to the disciplined.
William J. Bernstein
If your broker or investment advisor is not familiar with the concept of standard deviation of returns, get a new one.
William J. Bernstein
For the taxable investor, indexing means never having to say you're sorry.
William J. Bernstein
It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation (particularly if you're the lucky manager).
William J. Bernstein
The essence of effective portfolio construction is the use of a large number of poorly correlated assets.
William J. Bernstein
The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.
William J. Bernstein
The key aspect of an index fund is that many of them, not all of them, but many of them are extremely cheap.
William J. Bernstein
The typical fund company services 401k plan participants in the same way that Baby Face Nelson serviced banks.
William J. Bernstein
There are two kinds of investors, be they large or small: those who don't know where the market is headed and those who don't know what they don't know. Then again, there is a third type of investor: the investment professional, who indeed knows he doesn't know, but whose livelihood depends upon appearing to know.
William J. Bernstein
