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In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
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
Savings
Banks
Shift
Household
Massive
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Brokerage
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Firms
More quotes by Ron Chernow
A romantic striving for an impossible ideal.
Ron Chernow
In waiting for the glorious moment of that first book contract, writers must have giant reservoirs of patience. Yet they must persevere because they don't know the destiny that is being worked out for them. They creep humbly along the ground, without the spacious aerial vision of their lives that would show them the destiny in store for them.
Ron Chernow
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
Early on, New York already had a national and even international identity.
Ron Chernow
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
I'm a biographer I can live with a little hyperbole.
Ron Chernow
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.
Ron Chernow
Unless you devote an enormous amount of time to anticipating the future, you won't have any future.
Ron Chernow
By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.
Ron Chernow
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
In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.
Ron Chernow
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.
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
I think there's a tide that tends to carry historians back to the past.
Ron Chernow
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
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
The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.
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
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
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
