What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers.

One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It's your window into a very large world.

We really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario.

By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.

I think those who invest in mutual funds want someone else to do the thinking for them. But the fact that they can move the money around the family of mutual funds just through a phone call lets them feel that they can play tycoons.

I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives.

Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.