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It's important to understand how people perceive risk, and how that translates into investment behavior.

Because of my own experience with market fluctuation, I recognize the great risks one takes on investments. This converts the Social Security safety net into a risky proposition many cannot afford to take.

I don't invest in the stock market. I did it a long, long time ago when I was really young, and I got involved in all the investigations and all the prosecutions, and I felt it was better if I didn't make individual investments. So I'm invested in funds, but not in individual - not in individual stocks.

Investors should invest on what they know. The biggest mistake is to invest on what they don't know.

Investors should start with a view of skepticism. They should become intellectual investors rather than emotional investors. They should be careful, and they should be skeptical.

Mutual funds give people the sense that they're investing with the big boys and that they're really not at a disadvantage entering the stock market.

From my experience, there are so many regulations for investing in the United States that they become an impediment, a barrier to investing.

Individual investors have become far more powerful than anyone gives them credit for. Today, 85 million Americans invest in stocks. Collectively, that kind of buying and selling power can move markets.

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

Having an investor on your board of directors who is naive about public markets or finds them complex or scary is non-optimal.