Tony Deden on the investment business

There's a difference between an investment practice and an investment business.  In a business, you seek to do what the customer wants.  A practice is that you do the right thing by the customer regardless of what he wants or what he thinks he needs.  You seek to do the right thing.  And that's very difficult, actually.  It's not very popular.

~ Tony Deden, "Tony Deden - Master Value Investor," State of the Markets, 40:50 mark, January 10, 2025