Eugene Fama quote

After costs, only the top 3% of managers produce a return that indicates they have sufficient skill to just cover their costs, which means that going forward, and despite extraordinary past returns, even the top performers are expected to be only as good as a low-cost passive index fund. The other 97% can be expected to do worse.
Eugene Fama
Eugene Fama
Eugene Fama
Born: Feb 14, 1939

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Alan Greenspan, Herbert A. Simon, John Kenneth Galbraith, Milton Friedman, Paul A. Volcker, Richard Thaler, Robert Reich, Thomas Sowell
The Fama Portfolio: Selected Papers of Eugene F. Fama
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