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— Charlie Munger"One could imagine a period like Japan13 years ago, however, in which indexing over time wouldn't work."
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We know that we can do it, but cannot describe in so many words how we do it, nor can we reduce it to a set of rules. At most, the observable facts of the indexing operation can be described.
— Hans H Wellisch
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Nobody wants to be passive; indexing is not passive - much more goes into indexing than watching a stock become the next buggy whip.
— Charles R. Schwab
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