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"The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform."
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"I read some, and then visited with people involved in this curious, exciting and somewhat misunderstood sub-culture. I met with a fang maker, who offered to fit me for an exquisite pair."

"There is always something infinitely mean about other people's tragedies."

"I am attracted to people who make this effort in knowing what suits them - they are individual and stylish."

"Now how many people in their heart of hearts in that community want to see the demise of this country? How many would cheer, not out loud maybe, but in their heart when things like 9/11 occur and I'll tell you; it's a majority among them."

"You've got people who are looking at DNA evidence and other evidence like that and they're ignoring it."

"Well, of course, people are only human... But it really does not seem much for them to be."

"Well, first, the situation in Afghanistan is much better than it was. But there is no comparison between Afghanistan and Iraq. Iraq has a bureaucracy, Iraq has wealth. Iraq has an educated class of people who are positioned to come in and take over."
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."


"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."


"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 securities laws of the 1930s were so important because it forced companies to file registration statements and issue prospectuses, and it remedied the imbalance of information."
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