Quote of the day by Fred Schwed Jr: "The principle of “managed” investment trusts is absolutely sound, granted only one premise. The premise is that there are somewhere people of such experience and insight that they can predict with some sort of accuracy the future behavior of securities"

Fred Schwed Jr. has expressed skepticism about the idea that investment experts can accurately predict the future behavior of securities. He questions the premise behind professionally managed investments, suggesting that even experienced professionals may struggle to accurately forecast market trends. This highlights the uncertainty and risk involved in investing, and the importance of understanding these factors when making investment decisions.

Why it matters

The quote questions the effectiveness of professionally managed investments. It highlights the uncertainty of predicting securities' future behavior, which can impact investor confidence.

Market impact

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