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“Whether or not our system of Indian management has been a success during the past ten, fifty, or hundred years is almost answered in the asking.”

“No scientist or student of science, need ever read an original work of the past. As a general rule, he does not think of doing so. Rutherford was one of the greatest experimental physicists, but no nuclear scientist today would study his researches of fifty years ago. Their substance has all been infused into the common agreement, the textbooks, the contemporary papers, the living present.”

“The history of the past fifty years, and longer, indicates that a diversified holding of representative common stocks will prove more profitable over a stretch of years than a bond portfolio, with one important provisio that the shares must be purchased at reasonable market levels, that is, levels that are reasonable in the light of fairly well-defined standards derived from past experience.”