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"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."
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"To be a novelist, all I need is a pen and a piece of paper."
"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."
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 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'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."
"The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions."
"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."
"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 market as a whole."
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