When you look at the results on an after-fee, after-tax basis over reasonably long periods of time, there's almost no chance that you end up beating the index fund.

I think nobody is in a position to react to these big macro-issues. Where is the dollar going to be or what is G.D.P. growth going to be in China? For every smart person on one side of the question, there is another smart person on the other side.

I've tried many other styles of yoga, but nothing has ever given me the same centeredness, energy, and internal balance that I feel when practicing Ashtanga Yoga.

Jack Bogle's passionate cry of Enough! contains a thought-provoking litany of life lessons regarding our individual roles in commerce and society. Employing a seamless mix of personal anecdotes, hard evidence and all-too-often-underrated subjective admonitions, Bogle challenges each of us to aspire to become better members of our families, our professions and our communities. Rarely do so few pages provoke so much thought. Read this book.

Active management strategies demand uninstitutional behavior from institutions, creating a paradox that few can unravel. Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom.

Most active mutual funds are more interested in collecting fees than in boosting returns for investors.

I've worked many jobs throughout my life, which has ultimately enhanced my appreciation for the opportunity to teach yoga and share something so positive.