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.

Hamilton had one of those extraordinary 18th-century minds that touched on virtually every major topic of the day.

As the bull market goes on, people who take great risks achieve great rewards, seemingly without punishment. It's like crime without punishment or sex without sin.

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.

The American public historically was really not part of the stock market.

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.

The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.