Nobody wants to be passive; indexing is not passive - much more goes into indexing than watching a stock become the next buggy whip.

I am like a chief. I like to taste the food. If it tastes bad, I don't serve it. I'm constantly monitoring what we do, and I'm always looking for better ways we can provide financial services, ways that would make me happy if I were a client.

Most of the mutual fund investments I have are index funds, approximately 75%.

I consider my ability to arouse enthusiasm among men the greatest asset I possess. The way to develop the best that is in a man is by appreciation and encouragement.

There is nothing else that so kills the ambitions of a person as criticisms from superiors. I never criticize anyone. I believe in giving a person incentive to work. So I am anxious to praise but loath to find fault. . . . I have yet to find a person, however great or exalted his station, who did not do better work and put forth greater effort under a spirit of approval than he would ever do under a spirit of criticism.

Kindness is more powerful than compulsion.

Passion is the great slayer of adversity. Focus on strengths and what you enjoy.