Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.

I'm not currently into economic textbooks, but my grandchildren tell me that the book by Gregory Mankiw, former head of the white house council of economic advisers is a model of intelligence and clarity. Why not try that one.

Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that fund managers have been passive participants in corporate governance.

I believe - deeply and profoundly - that speculation is a loser's game.

Don't look for the needle in the haystack. Just buy the haystack!

So the misplaced assumption is that we have this whole new institutional element where these [financial] institutions are looking after their own financial interests before the financial interests of the principals, princi-pals whose interests they are really bound to observe first.

Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.