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

Surprise! The returns reported by mutual funds aren't actually earned by mutual fund investors.

Don't look for the needle in the haystack. Just buy the haystack!

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

The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.

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.