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50 Ron Chernow Quotes & Sayings
"
50 Ron Chernow Quotes & Sayings
American
/
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Born: 3 March 1949 |
Writer
|
Journalist
|
Historian
|
Biographer
|
Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.
Ron Chernow
Diversification
Funds
Historically
Individual
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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.
Ron Chernow
Big
Boy
Disadvantage
Entering
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The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.
Ron Chernow
Argument
Best
Diversification
Funds
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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
Any
Companies
Diversification
Fund
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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.
Ron Chernow
Achieve
Bull
BullMarket
Crime
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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
Almost
AlmostAnything
Anything
Bull
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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.
Ron Chernow
Because
Blinded
Buying
Complacency
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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.
Ron Chernow
Buy
Dangerous
Effects
Hold
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Ron Chernow
American
AmericanPublic
Historically
Market
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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
1920s
Dominated
Had
Information
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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.
Ron Chernow
1930s
Because
Companies
File
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Ron Chernow
1920s
Against
Borrow
Buy
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When news of the crash came, probably a lot of people in small towns and farms across America felt a sense of grim satisfaction that the sinners had finally been punished for their wicked ways.
Ron Chernow
Across
America
Been
Came
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I think one of the important things that's happened in the course of the century is that life expectancy has doubled.
Ron Chernow
Century
Course
Expectancy
Happened
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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
Ability
Age
Banking
BankingSystem
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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
Approaching
Baby
Boom
Discovered
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A lot of the money in the stock market is really our national retirement plan, for better or worse.
Ron Chernow
Better
Lot
Market
Money
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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
1970s
Assets
Because
Before
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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.
Ron Chernow
1980s
Always
Any
Appreciate
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In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
Ron Chernow
1970s
Banks
Household
Massive
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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
American
Bank
Banker
Became
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Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes.
Ron Chernow
Any
Bear
Bull
BullMarket
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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.
Ron Chernow
Blind
Going
Holes
Just
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A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.
Ron Chernow
Bull
BullMarket
Crash
Long
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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
About
Away
Dubious
Far
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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.
Ron Chernow
Every
Experience
Frankly
Funding
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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
About
Aspects
Different
Economy
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The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.
Ron Chernow
Fund
Industry
Investors
Mutual
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Because of the love affair between the American public and the stock market, it is possible for entrepreneurs, technological visionaries and inventors of every sort to get financing.
Ron Chernow
Affair
American
AmericanPublic
Because
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Ron Chernow
Capital
Country
Easy
Find
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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.
Ron Chernow
Angry
Back
Dead
Developed
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Ron Chernow
Back
Carry
Historians
IThink
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Hamilton had one of those extraordinary 18th-century minds that touched on virtually every major topic of the day.
Ron Chernow
Day
Every
Extraordinary
Had
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The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions.
Ron Chernow
Brilliant
Builders
Came
Comprehensive
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Writing about dead white males seems to be out of favor among academics.
Ron Chernow
About
Academics
Among
Dead
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Partly because his life ended before the age of 50, Hamilton was defined by the other founding fathers, and he managed, with amazing consistency, to alienate most of them.
Ron Chernow
Age
Alienate
Amazing
Because
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Ron Chernow
History
Inseparable
New
NewYork
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Early on, New York already had a national and even international identity.
Ron Chernow
Early
Even
Had
Identity
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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
After
Aide
Association
Because
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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
Because
Capital
Characteristics
Cultural
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I'm a biographer; I can live with a little hyperbole.
Ron Chernow
Hyperbole
ICan
Little
Live
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I was quite bowled over by Isabel Wilkerson's masterly saga, 'The Warmth of Other Suns.'
Ron Chernow
Other
Over
Quite
Saga
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Ron Chernow
Blessed
Campaigning
Existence
Felt
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It's a shameful thing to admit for someone who writes such long books, but I read so slowly that I almost subvocalize.
Ron Chernow
Admit
Almost
Books
Long
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I always sympathize with people who complain about the length of my books. It would take me a year to get through one of them.
Ron Chernow
About
Always
Books
Complain
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Reconstruction is the great black hole that remains to be filled. Even experts on the Civil War don't really understand its full significance.
Ron Chernow
Black
BlackHole
Civil
CivilWar
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Ron Chernow
Began
Books
Him
Washington
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Hamilton was extremely combative. Not only was he combative, but he also overreacted to anything he perceived as a threat or a criticism.
Ron Chernow
Also
Anything
Criticism
Extremely
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The thing with all the Founding Fathers, one of the most common words they used was 'posterity.' They were constantly referring to posterity.
Ron Chernow
Common
Constantly
Fathers
Founding
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Every time I wrote fiction, I was discouraged, and every time I wrote nonfiction, I was encouraged.
Ron Chernow
Discouraged
Encouraged
Every
EveryTime
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Ron Chernow Quotes & Sayings