It’s human nature to find patterns where... by William J. Bernstein | We Heart Quotes

It’s human nature to find patterns where there are none and to find skill where luck is a more likely explanation.

- William J. Bernstein

Other quotes by William J. Bernstein

Ideally, a fine painting, like a house, is neither a speculation nor an investment; it is a purchase. Its value consists solely of the pleasure and utility it provides now and in the future. The dividend the painting provides is of the non-financial variety.

- William J. Bernstein

Only an income-producing possession, such as a stock, bond, or working piece of real estate is a true investment.

- William J. Bernstein

Although you should not let your emotional responses dictate your allocation, you do need to sleep at night, and your personal preferences are an important part of your asset class structure.

- William J. Bernstein

Do not trust historical data—especially recent data—to estimate the future returns of stocks and bonds. Instead, rely on interest and dividend payouts and their growth/failure rates.

- William J. Bernstein

I see the supposed convenience of being able to trade ETFs throughout the day as a psychological disadvantage. Unless you are able to predict intraday market moves—a fool’s errand if ever there was one—you are faced with the oftentimes paralyzing choice of exactly when to buy or sell.

- William J. Bernstein

The best fishing is done in the most stormy waters.

- William J. Bernstein

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