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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

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Ron Chernow
Age: 75
Born: 1949
Born: March 3
Biographer
Historian
Journalist
Writer
Brooklyn
New York
Chernow
Ronald Chernow
Hold
Dangerous
Sound
Individual
Perverse
Whole
Sensible
Strategy
Market
Effects

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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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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.
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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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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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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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I think there's a tide that tends to carry historians back to the past.
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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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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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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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