Birds of a feather flock together . Opposites attract wisdom is the central theme. Clearly laden with common sense, Proverbs helps us to recognize in new situations the long-standing and fundamental patterns of life, and fosters our ability to see the world in others' terms. Happy are those who find wisdom and those who get insight, for her income is better than silver, and her revenues better than gold. Leadership The Three Elements Wisdom and insight are essential to sound leadership.
Leadership requires foresight, and it is impossible to imagine foresight without wisdom.
Please be clear that foresight is not to be confused with brilliance, nor some magical ability to know the unknowable. When there are many solutions to a problem, the simplest one is most likely correct With the knowledge that the simplicity of Vanguard's organizational structure and the simplicity of our index funds have been the key to what we have built, you too might well look first to simple solutions to the challenges you'll face in the years ahead. While foresight is necessary to build and protect an institution, the enterprise also needs a sense of mission. For me that something was to earn a reputation for giving investors a fair shake. To act with integrity.