A lot of the money in the stock market is really our national retirement plan, for better or worse.
- Ron Chernow Quote

After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.
- Ron Chernow Quote

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 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 Quote

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 Quote

By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.
- Ron Chernow Quote

Hamilton had one of those extraordinary 18th-century minds that touched on virtually every major topic of the day.
- Ron Chernow Quote

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 Quote

I think one of the important things that's happened in the course of the century is that life expectancy has doubled.
- Ron Chernow Quote

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.
- Ron Chernow Quote

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 Quote

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.
- Ron Chernow Quote

In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
- Ron Chernow Quote

Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund. Then, it is more difficult for them to beat the market averages or even to match their own past performance.
- Ron Chernow Quote

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 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 Quote

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 Quote

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 Quote

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 Quote

The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.
- Ron Chernow Quote

The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions.
- Ron Chernow 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 Quote

The history of Wall Street is inseparable from New York.
- Ron Chernow Quote

The mutual fund industry has been very successful at promoting itself in this glamorous way. Mutual funds are actually vast, impersonal bureaucratic structures, and yet they were clever enough to give a human face to the mutual funds.
- Ron Chernow Quote

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 Quote

There is no country in the world where it's as easy to find venture capital in the stock market as the United States.
- Ron Chernow Quote

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 Quote

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 Quote

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 Quote

Writing about dead white males seems to be out of favor among academics.
- Ron Chernow Quote