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.

If your fund doesn't last for the long term, how can you invest for the long term?

Managed funds are astonishingly tax-inefficient.

In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.

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

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.

Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.