Ron Chernow Quotes

47 Ron Chernow quotes:

"A lot of the money in the stock market is really our national retirement plan, for better or worse."
"By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity."
"I don't think that a mutual fund that invests exclusively in biotech start-ups or invests exclusively in companies in Thailand offers any great safety or diversification."
"I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives."
"Stock market corrections, although painful at the time, are actually a very healthy part of the whole mechanism, because there are always speculative excesses that develop, particularly during the long bull market."
"The securities laws of the 1930s were so important because it forced companies to file registration statements and issue prospectuses, and it remedied the imbalance of information."
"There is a kind of fear, approaching a panic, that's spreading through the Baby Boom Generation, which has suddenly discovered that it will have to provide for its own retirement."
"We really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario."
"A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market."
"I think one of the important things that's happened in the course of the century is that life expectancy has doubled."
"I'm dubious about having Social Security put into the stock market. I think that we have gotten very far away from the idea that there's something sacrosanct about retirement investments."
"If you go back to the time of J.P. Morgan, the world of high finance was completely wholesale. The prestigious investment banks on Wall Street appealed exclusively to large corporations, governments, and to extremely wealthy individuals."
"The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions."
"Writing about dead white males seems to be out of favor among academics."
"Because of the love affair between the American public and the stock market, it is possible for entrepreneurs, technological visionaries and inventors of every sort to get financing."
"In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks."
"The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before."
"The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform."
"The mutual fund industry has been very successful at promoting itself in this glamorous way. Mutual funds are actually vast, impersonal bureaucratic structures, and yet they were clever enough to give a human face to the mutual funds."
"After 1929, so many people had been traumatized by the stock market crash that there was a lost generation."

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