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The market, as we're all painfully aware in the aftermath of the banking crisis, can be an idiot. It has no perception of right or wrong, or even sensible or insane. It sees profit.

The leader of the market today may not necessarily be the leader tomorrow.

Well, another market is being created now out of Internet technology.

I think the market is always going to be around. The goal is not to say, let's get rid of the market, because the market does render a huge number of services, and I don't want to have a fight about the price of something every time I buy a book or a bottle of water.

Markets are frequently ahead of, and often out of sync with, the economy.

I can never predict what the markets will do. Sometimes it does the exact opposite of what I would have expected.

You can't change the market; the market just is.

Today the financial market is no good, but the money is there.

I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.'

For us, whether the market is skewed from a bubble perspective or not really is mitigated by staying focused on what we do best.