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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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"By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity."
People
"The American public historically was really not part of the stock market."
History
"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."
Experience
"What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers."
People
"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."
Money
"I think one of the important things that's happened in the course of the century is that life expectancy has doubled."
Life
"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."
Family
"I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives."
Memory
"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 complacency because people will be blinded to some risk."
People
"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."
Finance
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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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Personal Development
"To be a novelist, all I need is a pen and a piece of paper."
Author Name
Personal Development
"To me, America is just another market."
Author Name
Personal Development
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