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— Peter Drucker"Not to innovate is the single largest reason for the decline of existing organizations. Not to know how to manage is the single largest reason for the failure of new ventures."
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Long-term investment success is almost totally a function of how one emotionally handles declines in the equity market, as opposed to how one's portfolio handles them.
— Nick Murray
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...how little our side of the industry did to move its business to the more ethical firms and to make a fuss about conflicted or unethical behavior. Had a number of us moved our business, we might have slowed or even stopped the 30-year slide in conflicted, unethical behavior that we have experienced. I, for one, regret the modest nature of our moves. We all could have done more. We have tolerated a pretty nasty decline in standards. Shame on us.
— Jeremy Grantham
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