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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
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Ron Chernow
Age: 75
Born: 1949
Born: March 3
Biographer
Historian
Journalist
Writer
Brooklyn
New York
Chernow
Ronald Chernow
Generations
Spreading
Baby
Approaching
Fear
Panic
Kind
Retirement
Discovered
Provide
Suddenly
Generation
Boom
More 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.
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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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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.
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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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The richly cadenced prose is hypnotic, the research prodigious, the analysis acute, the mood spellbinding, and the cast of characters mythic in scale. I cannot conceive of a better book about Capitol Hill. An unforgettable, epic achievement in the art of biography.
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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 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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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.
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Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.
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A romantic striving for an impossible ideal.
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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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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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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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I'm a biographer I can live with a little hyperbole.
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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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Early on, New York already had a national and even international identity.
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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 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.
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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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By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.
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