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"The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification."
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"The conservative argument is that the economy is like the weather, that it just operates automatically."

"That's what we're missing. We're missing argument. We're missing debate. We're missing colloquy. We're missing all sorts of things. Instead, we're accepting."

"Be able to analyze statistics, which can be used to support or undercut almost any argument."

"Capital punishment is the source of many an argument, both good and bad."

"Don't take the wrong side of an argument just because your opponent has taken the right side."

"I don't accept at all the quite popular argument that the press is responsible for the monarchy's recent troubles. The monarchy's responsible for the monarchy's recent troubles. To blame the press is the old thing of blaming the messenger for the message."
Explore more quotes by Ron Chernow


"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."


"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, it is more difficult for them to beat the market averages or even to match their own past performance."


"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."


"In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks."


"The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform."


"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."


"After being Washington's aide for four years and becoming the hero of Yorktown, Hamilton was viewed with a great deal of suspicion because of his association with Tories."


"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."


"As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is a very easy and safe and that you're a financial genius."
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