Ron Chernow Quotes & Sayings (Page 2)

“There is no country in the world where it's as easy to find venture capital in the stock market as the United States.”

“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.”

“A lot of the money in the stock market is really our national retirement plan, for better or worse.”

“The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.”

“The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance.”

“Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.”

“Writing about dead white males seems to be out of favor among academics.”

“As the bull market goes on, people who take great risks achieve great rewards, seemingly without punishment. It's like crime without punishment or sex without sin.”

“I think those who invest in mutual funds want someone else to do the thinking for them. But the fact that they can move the money around the family of mutual funds just through a phone call lets them feel that they can play tycoons.”

“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.”