I was born in an earlier generation and, as a group, my classmates at Blair Academy and Princeton University were as ethical, straightforward, and integrity laden as you could possibly imagine - perhaps not a 100% - but the overwhelming majority. I've been in business a long, long time and I simply cannot imagine seeking out cheating, greedy people.

The stock market is a giant distraction to the business of investing.

The principal role of the mutual fund is to serve its investors.

I think we all ought to be careful about too much generalization on this issue, even as I confess to painting with a pretty broad brush myself!

I think it's gone much too far. Most of them are not worth the powder to blow them to hell.

Hint: money flows into most funds after good performance, and goes out when bad performance follows.

We are facing incredible challenges in the economy of the U.S. and the economy of the globe, but the stock market, we never know whether it's over-discounted or under-discounted or got exactly right its anticipation.