The historical data support one conclusion with unusual force: To invest with success, you must be a long-term investor.

Managed funds are astonishingly tax-inefficient.

The transfer of Wall Street from private ownership to public ownership has been a big step backward.

I would always advise young people to follow their star - not my star. They have to live their own life. If they decide they want to go into the investment business, do it, but make it a better business than it is today.

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'm not an expert on Islam, but I think there are lots of noble religions whose basic principles could stand considerably more observation in the world of business.

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