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"We really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario."
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Exlpore more Experience quotes
"Poetry is innocent, not wise. It does not learn from experience, because each poetic experience is unique."
"I just came into my own sexuality at thirty. I don't think it's something you can deeply experience at 18 or any time before that."
"It was like making a blunder at a party; there was nothing to do about it, it was dreadfully mortifying, but it showed a lack of sense to ascribe too much importance to it."
"Through this experience we have been warned - learn everything, don't forget anything!"
"Failure is only an experience. Experience is the foundation of any success."
"War is delightful to those who have had no experience of it."
"The dictum that truth always triumphs over persecution is one of the pleasant falsehoods which men repeat after one another till they pass into commonplaces, but which all experience refutes."
"I will perform My Heart Will Go On for the rest of my life and it will always remain a very emotional experience for me."
"We are all the sum of a million moments in our lives."
"Common experience is the gold reserve which confers an exchange value on the currency which words are; without this reserve of shared experiences, all our pronouncements are checks drawn on insufficient funds."
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."
"The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform."
"In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms."
"Hamilton had one of those extraordinary 18th-century minds that touched on virtually every major topic of the day."
"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."
"I think one of the important things that's happened in the course of the century is that life expectancy has doubled."
"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."
"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."
"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."
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