— Eugene Fama"After costs, only the top 3% of managers produce a return that indicates they have sufficient skill to just cover their costs, which means that going forward, and despite extraordinary past returns, even the top performers are expected to be only as good as a low-cost passive index fund. The other 97% can be expected to do worse."
Create & Download Quote Graphic
Customize Image
1. Canvas Aspect Ratio
2. Palette Theme
Thematic Reflection
This quotation examines the core nature of Time as articulated by Eugene Fama. Within historical and literary traditions, reflections on Time provide actionable mental models, challenging individuals to evaluate personal ethics, self-discipline, and daily actions.
Editorial Integrity: Curated and fact-checked under our
Editorial Standards
to eliminate misattributions and preserve historical authenticity.
Learn about our methodology →