Fund Performance Quotes

The actions of hedge fund managers in exercising their fiduciary responsibilities to their investors is not the reason why Chrysler is in jeopardy.

Often, investors will discover a manager after he's had a terrific run, usually when he lands on a magazine cover somewhere. Invariably, funds swell up with new investor money just before they revert to their long-term averages.

Well, actually, I manage a couple of stock portfolios or funds or whatever you want to call 'em, and I think I've done relatively well with them.

99% of fund managers demonstrate no evidence of skill whatsoever.

As a rule, bond funds will not double your money overnight.

Why do investors seem to care about 'billion dollar exits?' Historically, top venture funds have driven returns from their ownership in just a few companies in a given fund of many companies.

With actively managed funds, people have big behavior problems. With funds that have done well, they put their money in, and when it has done bad, they want to take it out.

... skepticism about past returns is crucial. The truth is, much as you may wish you could know which funds will be hot, you can't - and neither can the legions of advisers and publications that claim they can. That's why building a portfolio around index funds isn't really settling for average. It's just refusing to believe in magic.

The Vanguard Experiment was designed to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their shareholders.

Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to every investing 'style' and economic sector or regional subgroup that some marketing idiot can dream up? Not likely. A brutal shakeout is coming and one of its revelations will be that stock picking is a grossly overrated piece of the puzzle, that cost control is what distinguishes a competitive firm from an uncompetitive one.

Venture funds get beaten up for not investing in important things. Okay, if you want venture funds to invest in important things, then don't penalize or make fun of them when those important things don't work.

Plenty of funds have fine long-term returns despite being tax-inefficient and generally costly. But a dirty secret is this: Average, no-load fund investors do much worse than the funds - or the market.

Throughout the universe of public and private funds, managers are measured quarterly against one index or another, defined by statistics, and corralled into this category or that category so that fund of funds, pensions, and other institutions can make comforting - if not necessarily prudent - asset allocation decisions.

Managed funds are astonishingly tax-inefficient.

Mutual funds with superior performance records often falter.

Mutual fund managers want your money in their funds. They get paid based on assets under management.

Surprise! The returns reported by mutual funds aren't actually earned by mutual fund investors.

I think you'll do as well as most professionals. Most professionals don't beat the market. Let's not over-rate my industry. But if you have time, you can be in good mutual funds that have good records.

It's clear to me when you do private equity well, you're making companies more efficient and helping them grow and become more profitable. That success means our investors - such as public pension funds - benefit, which contributes to the economic wealth of society.

At the end of the day, VCs have to provide their limited partners with great returns, or they aren't going to be able to raise another fund.

The National Empowerment Fund we established some time back. And one of the challenges was to build a strong enough asset base for it to operate in a credible manner. And we believe that it can.

Given the typical fee structures of hedge funds, they need to do something different to make money in a consistent way.

When it comes to fund managers and market strategists, this year's hero usually turns into next year's zero.

While fund performance is unpredictable, the impact of fees is not, .. A 1- percent annual fee will reduce an ending account balance by 17 percent after 20 years.

It's pretty challenging for large funds to spend the time and energy necessary to get a meaningful return when most of the wins coming out are perhaps below $100 million exits and the ones above are very few and far between.