The real reason that physicians are rotten investors is tha… - William J. Bernstein

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The real reason that physicians are rotten investors is that it never occurs to them that finance is a science, just like medicine.

William J. Bernstein

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About William J. Bernstein

William J. Bernstein (born 1948) is an American financial theorist. He is known for his research in the field of modern portfolio theory and for his finance books for individual investors who wish to manage their own equity portfolios. He lives in Portland, Oregon.

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Warren Buffett Benjamin Graham Andy Kessler Peter Lynch Burton Malkiel

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It is one thing to coolly design a portfolio strategy on a sheet of paper or computer monitor, and quite another to actually deploy it.

We tend to think of technological progress as an ever accelerating affair, but it just isn't so.

In fact, using entirely reasonable assumptions, you can make the Dow's discounted market value almost anything you want it to be.

The real reason that physicians are rotten investors is that it never occurs to them that finance is a science, just like medicine. - William J. Bernstein

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