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.

I've always viewed high-frequency trading as a tax on the rest of us.

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.

Maybe the yogi is a parent who's a little more patient with their child, or a more compassionate coworker, or an understanding boss. Perhaps, they pick up a piece of trash that wasn't theirs, turn off a light when they're not in the room, or turn off the water while they brush their teeth, sensitive to the finite nature of our worldly resources. When we become mindful this way, there's a ripple effect. We inspire others to do the same.

The true depth of understanding and maturity as a practitioner is how we apply what we've learned to our lives.

My attitude about teaching has always been the same. From early on, I wanted to make yoga accessible so that anyone, regardless of ability, could experience its wonder, joy, and power. I encourage students to question, learn, and develop their own personal practice.

Never underestimate the gullibility of large pools of money.