Chapter Seventeen

“The Relentless Rules

of Humble Arithmetic”

-

Reprise

IF THE MESSAGE IN this book comes across as confident,

please understand that it is little more than common

sense. Even more, please understand that my confidence

in the index fund is buttressed by the conclusions of many

of the smartest, most experienced, most successful in-

vestors in the United States including Warren Buffett,

Charlie Munger, and Benjamin Graham, along with top

academics and endowment managers—Nobel Laureates

Paul Samuelson, William Sharpe, and Daniel Kahneman

and Princeton’s Burton Malkiel, Yale’s David Swensen,

Harvard’s Jack Meyer, and MIT’s Andrew Lo.