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.

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.

I was born in an earlier generation and, as a group, my classmates at Blair Academy and Princeton University were as ethical, straightforward, and integrity laden as you could possibly imagine - perhaps not a 100% - but the overwhelming majority. I've been in business a long, long time and I simply cannot imagine seeking out cheating, greedy people.

It's 1450 out of 1500 ETF funds that I just wouldn't touch because they're not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody.

Managed funds are astonishingly tax-inefficient.

Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that fund managers have been passive participants in corporate governance.

Learn every day, but especially from the experiences of others. It's cheaper!