Corporate leaders surely have their problems, I believe that most CEOs are doing their best to hew to the ethical line. The problem is that that line has gotten blurred and that our moral standard seems to be "if everybody else is doing it, it's okay". That's not good enough for me.

Surprise! The returns reported by mutual funds aren't actually earned by mutual fund investors.

If you're very talented and keep winning, you'll do just fine. It may take a while. But the talent is hard to identify and talent is hard to tell from luck. There's an awful lot of luck in this business. Past performance is not helpful in judging future performance.

The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.

Without getting into brothels, there are ethical capitalists the problem is that there aren't enough of them. It is not "just a few bad apples" that have been evident in our corporations, our investment bankers and our mutual funds, but so many that one has to concede that the barrel itself needs some work.

My biggest prediction for the future is that people are going to start looking after individual investors.

Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.