Ron Chernow Quotes

51 quotes in 852 categories

• 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…
• 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…
• In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
• One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It's your…
• You don't want too much fear in a market, because people will be blinded to some very good buying opportunities. You don't want too much…
• I think there's a tide that tends to carry historians back to the past.
• When news of the crash came, probably a lot of people in small towns and farms across America felt a sense of grim satisfaction that…
• The history of Wall Street is inseparable from New York.
• The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.
• 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…
• Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund. Then,…
• 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…
• 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…
• 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…
• That strategy of buy and hold, which is the sound and sensible one for the individual, can have very dangerous and perverse effects for the…
• The American public historically was really not part of the stock market.
• 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.
• In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.
• 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…
• I'm a biographer; I can live with a little hyperbole.

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