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

Managed funds are astonishingly tax-inefficient.

The mutual fund industry has been built, in a sense, on witchcraft.

I believe - deeply and profoundly - that speculation is a loser's game.

If it is hard to imagine that 20% of losses on the stock market, you should never participate

Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.

The courage to press on regardless - regardless of whether we face calm seas or rough seas, and especially when the market storms howl around us - is the quintessential attribute of the successful investor.