It is not the pace of technology or the brilliance of innovation that guarantees the success of our markets, but rather an unyielding commitment to quality... Quality, at its broadest and most basic level, is the protection of the investor interest. This principle reaffirms a simple and salient truth-markets exist by the grace of investors.
Speech to the Columbia Law School, New York City. 'Dynamic Markets, Timeless Principles' (1999)