"Any graduate of the ___ Business School should be able to beat an index fund over the course of a market cycle." Statements such as these are made with alarming frequency by investment professionals. In some cases, subtle and sophisticated reasoning may be involved. More often (alas), the conclusions can only be justified by assuming that the laws of arithmetic have been suspended for the convenience of those who choose to pursue careers as active managers.
William F. SharpeRelated topics
able active alas arithmetic assuming beat business choose convenience course cycle frequency fund graduate index investment market reasoning school should lawsRelated quotes
Many myths and fairy tales tell of a prince, who has been turned into an animal or a monster by sorcery, being saved by a woman. This is a symbolic representation of the development of the animus toward consciousness. Often the heroine may ask no questions of her mysterious lover, or she is only allowed to meet him in darkness. She is to save him through her blind faith and love, but this never works. She always breaks her promise and is only able to find her beloved again after a long quest.
Marie-Louise von Franz
Of course I'm a black writer. I'm not just a black writer, but categories like black writer, woman writer and Latin American writer aren't marginal anymore. We have to acknowledge that the thing we call ''literature'' is more pluralistic now, just as society ought to be. The melting pot never worked. We ought to be able to accept on equal terms everybody from the Hasidim to Walter Lippmann, from the Rastafarians to Ralph Bunche.
Toni Morrison
It cannot be too frequently emphasized that the behavior of any animal must depend upon on the nature of the stimulus which it meets, its anatomic and physiologic capacities, and its background of previous experience. Unless it has been conditioned by previous experience, an animal should respond identically to identical stimuli, whether they emanate from some part of its own body, from another individual of the same sex, or from an individual of the opposite sex.
Alfred Kinsey
In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time someting like that happened in politics or religion.
Carl Sagan
A great part of its theories derives an additional charm from the peculiarity that important propositions, with the impress of simplicity on them, are often easily discovered by induction, and yet are of so profound a character that we cannot find the demonstrations till after many vain attempts; and even then, when we do succeed, it is often by some tedious and artificial process, while the simple methods may long remain concealed.
Carl Friedrich Gauss
