Quotes By Ron Chernow
In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.
Ron Chernow
One of the special characteristics of New York is that it is different from a London or a Paris because it's the financial capital, and the cultural capital, but not the political capital.
Ron Chernow
Stock market corrections, although painful at the time, are actually a very healthy part of the whole mechanism, because there are always speculative excesses that develop, particularly during the long bull market.
Ron Chernow
There were two qualities about the mutual funds of the 1920s that made them extremely speculative. One was that they were heavily leveraged. Two, mutual funds were allowed to invest in other mutual funds.
Ron Chernow
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
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.
Ron Chernow
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.
Ron Chernow
A lot of the money in the stock market is really our national retirement plan, for better or worse.
Ron Chernow
The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.
Ron Chernow
After being Washington's aide for four years and becoming the hero of Yorktown, Hamilton was viewed with a great deal of suspicion because of his association with Tories.
Ron Chernow
A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.
Ron Chernow
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
The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance.
Ron Chernow
Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.
Ron Chernow