"To the great relief of assistant professors who must publish or perish, there is still much debate within the academic community on risk measurement, and much more empirical testing needs to be done. Undoubtedly, there will yet be many improvements in the techniques of risk analysis, and the quantitative analysis of risk measurement is far from dead. My own guess is that future risk measures will be even more sophisticated—not less so. Nevertheless, we must be careful not to accept beta or any other measure as an easy way to assess risk and to predict future returns with any certainty. You should know about the best of the modern techniques of the new investment technology—they can be useful aids. But there is never going to be a handsome genie who will appear and solve all our investment problems."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
9. Reaping Reward By Increasing Risk
https://en.wikiquote.org/wiki/Burton_Malkiel
Revision History
No revisions have been submitted for this quote.
Categories
Burton Malkiel
31 quotes on TrueQuotesView all quotes by Burton Malkiel →
Related Quotes
"A random walk is one in which future steps or directions cannot be predicted on the basis of past history. When the t…"
"Investing requires work, make no mistake about it. Romantic novels are replete with tales of great family fortunes lo…"
"The firm-foundation theory argues that each investment instrument, be it a common stock or a piece of real estate, ha…"
"The castle-in-the-air theory of investing concentrates on psychic values. John Maynard Keynes, a famous economist and…"
"History, in this instance, does teach a lesson: Although the castle-in-the-air theory can well explain such speculati…"
"Part of the genius of financial markets is that when there is a real demand for a method to enhance speculative oppor…"
"Why are memories so short? Why do such speculative crazes seem so isolated from the lessons of history? I have no apt…"
"The lessons of market history are clear. Styles and fashions in investors’ evaluations of securities can and often do…"
"Fraud aside, we should have known better. We should have known that investments in transforming technologies have oft…"
"Behavioral-finance theory also helps explain why many people refuse to join a 401(k) savings plan at work, even when …"