Jeff Ptak: From the 31st annual Morningstar Investment Conference in Chicago, Illinois, I'm Jeff Ptak, global director of manager research for Morningstar Research Services. I'm very pleased to be joined today by Tim Buckley. Tim is Vanguard's chairman and CEO. He's here at the Morningstar Investment Conference to collect Vanguard's award as Exemplary Steward as part of Morningstar's Annual Investment Excellence Awards.
Tim, congratulations on receiving the award. Maybe you can talk to start out about what stewardship has meant, investor-centricity has meant, to Vanguard as an organization since it got its start and then more recently as you've grown into a larger firm.