Investment success accrues not so much to the brilliant as to the disciplined. — William J. Bernstein
Mutual fund manager performance does not persist and the return of stock picking is zero. — William J. Bernstein
The definition of investment is the deferring ofpresent consumption for future consumption. — William J. Bernstein
The reason that ‘guru’ is such a popular word is because ‘charlatan’ is so hard to spell. — William J. Bernstein