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Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.

Ron Chernow

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Ron Chernow
Age: 75
Born: 1949
Born: March 3
Biographer
Historian
Journalist
Writer
Brooklyn
New York
Chernow
Ronald Chernow
Mutual
Stocks
Safety
Funds
Responsibility
Historically
Individual
Spare
Spares
Picking
Offered
Fund
Diversification

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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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Unless you devote an enormous amount of time to anticipating the future, you won't have any future.
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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.
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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.
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What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers.
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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.
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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.
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In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
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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.
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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.
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I'm a biographer I can live with a little hyperbole.
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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.
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In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.
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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.
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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.
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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.
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