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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
Whole
Sensible
Strategy
Market
Effects
Hold
Dangerous
Sound
Individual
Perverse

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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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Unless you devote an enormous amount of time to anticipating the future, you won't have any future.
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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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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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The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.
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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.
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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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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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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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