Ron Chernow quotes - page 2

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. (Ron Chernow)
In the 1920s, Wall Street was a world that was really dominated by professional speculators and stock pools. These people had a monopoly over information. View quote
Ron Chernow
In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks. View quote
Ron Chernow
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. View quote
Ron Chernow
A lot of the money in the stock market is really our national retirement plan, for better or worse. View quote
Ron Chernow
By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity. View quote
Ron Chernow
In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms. View quote
Ron Chernow
Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes. View quote
Ron Chernow
I'm a biographer; I can live with a little hyperbole. View quote
Ron Chernow
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. View quote
Ron Chernow
Mutual funds give people the sense that they're investing with the big boys and that they're really not at a disadvantage entering the stock market. (Ron Chernow)
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. View quote
Ron Chernow
There is no country in the world where it's as easy to find venture capital in the stock market as the United States. View quote
Ron Chernow
The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform. View quote
Ron Chernow
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. View quote
Ron Chernow
What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers. View quote
Ron Chernow
I think one of the important things that's happened in the course of the century is that life expectancy has doubled. View quote
Ron Chernow
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. View quote
Ron Chernow
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. View quote
Ron Chernow
There were two qualities about the mutual funds of the 1920s that made them extremely speculative. One was that they were heavily leveraged. Two, mutual funds were allowed to invest in other mutual funds. View quote
Ron Chernow
When the market is just going up, up, and up, we all tend to be blind to the holes in the market. They're all papered over by the rise. (Ron Chernow)
Partly because his life ended before the age of 50, Hamilton was defined by the other founding fathers, and he managed, with amazing consistency, to alienate most of them. View quote
Ron Chernow
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. View quote
Ron Chernow