Articles by Burton G. Malkiel

An Optimal Approach to Smart Beta

I have been skeptical about the proliferation of “Smart Beta” strategies, many of which have failed to generate satisfactory returns. The reason is not because the approach has no theoretical basis or is inconsistent with my belief that markets are reasonably efficient.

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Is Indexing Worse Than Marxism?

Index funds have always been ridiculed by active mutual-fund managers.  Two recent events have fueled a new set of criticisms.

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What Should the Investor Do About The Bond Market?

Professional investment advisors as well as academic financial economists have traditionally advised investors to hold widely diversified portfolios. Indeed diversification has often been called “the only free lunch” available to investors.

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What long-term returns should I expect from US stocks?

It is virtually impossible to predict short-term movements in the stock market. Prices change from day to day in a more or less random fashion.

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