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“Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises.”

“John Kerry and the other Democratic leaders are on the wrong side of history, as they were during the Reagan presidency. If they had won the day, and Reagan had failed, the Soviet Union would still exist, as would all the harm and suffering it unleashed, and American security would be far weaker as a result. And if they win this election thanks to a promise to undo the Reagan-Bush Doctrine, those cheering loudest will be the most evil-loving among us.”