I think it's fairly easy to provide a moral defense of capitalism. It has been - over the last 200 years - the underlying basis for enormous increases in productivity and human welfare and rising living standards, particularly in the United States, and in the industrialized nations but in fact, in most parts of the world.

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.

We need to reorganize our entire system of retirement plan investing and to develop federal standards of fiduciary duty for pension trustees and fund managers. These require "top down" intervention. But we also need investors to look after their own economic interests, a bottom up approach to our problems that is well within our individual power to undertake.

Your success in investing will depend in part on your character and guts, and in part on your ability to realize at the height of ebullience and the depth of despair alike that this too shall pass.

The principal role of the mutual fund is to serve its investors.

If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.

The relationship between executive CEO pay, stock performance is tenuous and not easily unscrambled, just one of myriad factors that affect the price of a stock.