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

It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it.

We need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the proven principles of long-term investing and of trusteeship that demands integrity in serving our clients.

On balance, the financial system subracts value from society

I believe that the behavior of too many of our corporations investment bankers and fund managers has jeopardized some of the trust that investors have had. It's not the economic engine that we need to focus on, but the need to make sure that our investors receive their fair share of the returns that that great economic system produces.

If it is hard to imagine that 20% of losses on the stock market, you should never participate

You know the rule of 72, divide the number into 72, any number you want, and that's how long it will take your money to double.