Market history shows that when there’s e... by William J. Bernstein | We Heart Quotes

Market history shows that when there’s economic blue sky, future returns are low, and when the economy is on the skids, future returns are high.

- William J. Bernstein

Other quotes by William J. Bernstein

The reason that 'guru' is such a popular word is because 'charlatan' is so hard to spell.

- 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.

- William J. Bernstein

First, we invest now so that we may spend later. In fact, this is the essence of investing: the forbearance of immediate spending in exchange for future income. Because of the mathematics of compound interest, spending even a tiny fraction on a regular basis devastates final wealth over the long haul.

- 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 the modern image of the imperial city is dominated by the ruins of the Coliseum and the Forum, the economic life of ancient Rome centered on side streets filled with apartments, shops, and horrea.

- 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

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