William J. Bernstein Quotes:
Life: b. 1954
While it is probably a poor idea to own actively managed funds in general, it is truly a terrible idea to own them in taxable accounts... taxes are a drag on performance of up to 4 percentage points each year... many index funds allow your capital gains to grow largely undisturbed until you sell... For the taxable investor, indexing means never having to say you're sorry.
topic: Sorry, Mean, Years, Index Funds, Capital Gains, Indexing
