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Quotes of the Week

November 24, 1997

"This much is clear: The easist way for a fund to hit the top quartile in performance among peer funds is to be in the bottom quartile in expenses. When fund directors come to grips with this fact and press for sharp fee reductions and a share of the economies of scale, fund investors will be well served."
     John C. Bogle in "Whose Board?" from Bloomberg Personal (December 1997)

"More than 80 percent of portfolio managers today were in high school in 1987"
     Lawrence Lieberman in Lynn Brenner's "Consumer's rule!" from Bloomberg Personal (December 1997)

"no one has convincingly proved--or disproved, for that matter-- that technical analysis has ever made or saved money for anyone, leaving investors to wonder: Does this thing work?"
     Leland Montgomery in "Technical Knockout" from Worth (December/January 1998)

"At their best, technicians are like doctors who can diagnose but not prescribe. At their worst, they are simply witch doctors."
     Laszlo Birinyi Jr. in "Diagnosticians who can't prescribe" from Forbes (12/1/97)

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