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.


1991 Chairman's Letter - Letters to Shareholders (1957 - 2012)


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.

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.

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.

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.