I have never for a minute felt in was my stock picking abilities. I feel that my stock picking abilities aided- I was able to pick out which are the good stocks in the good market, but I have been blessed with a great market.

After a lifetime of picking stocks, I have to admit that Bogle's arguments in favor of the index fund have me thinking of joining him rather than trying to beat him. Bogle's wisdom and common sense are indispensable... for anyone trying to figure out how to invest in this crazy stock market.

They don't take eyeballs at the bank. Those who value stocks by eyeballs should go be ophthalmologists, not stock analysts. There is no cyberworld where reach trumps profits.

I mean that what makes me a professional, but the market itself has been fabulous during this whole period and I've got to give the market credit before I give myself credit.

I mean it's the most objective industry in the world. If your numbers stink, you're out. If your numbers are good, you get more money. It's the most Darwinian, it's beautiful, it's brutal, it works.

On days like today you realize that you just can't keep these hypergrowth stocks down.

We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must.