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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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"It's not about whether or not someone is a bigot, but whether or not the argument which that someone is arguing is worth being a bigot about."

"The irrationality of a thing is no argument against its existence, rather a condition of it."

"A day without an argument is like an egg without salt."

"I remember having an argument with Alan, I said the Queen's not just going to call the guy up and send him out to do it. And Alan says, well, how would a monarch give orders to her assassin."

"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


"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."


"In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms."


"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."


"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."


"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."


"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."


"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."


"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."


"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 window into a very large world."
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