Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.

You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.

I don't like what's going on with the executive compensation.

The Fed is the greatest hedge fund in history.

Turnarounds seldom turn.

Knowing what to leave out is just as important as knowing what to focus on.

Basically, the single-most important decision in evaluating a business is pricing power.