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. Ron Chernow Read Quote
The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before. Ron Chernow Read Quote
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. Ron Chernow Read Quote
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. Ron Chernow Read Quote
After 1929, so many people had been traumatized by the stock market crash that there was a lost generation. Ron Chernow Read Quote
Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks. Ron Chernow Read Quote
In the 1920s, Wall Street was a world that was really dominated by professional speculators and stock pools. These people had a monopoly over information. Ron Chernow Read Quote
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. Ron Chernow Read Quote
As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is a very easy and safe and that you’re a financial genius. Ron Chernow Read Quote
