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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.

Ron Chernow

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Ron Chernow
Age: 75
Born: 1949
Born: March 3
Biographer
Historian
Journalist
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Brooklyn
New York
Chernow
Ronald Chernow
Numbers
Mutual
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More quotes by Ron Chernow

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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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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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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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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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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.
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Early on, New York already had a national and even international identity.
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I think there's a tide that tends to carry historians back to the past.
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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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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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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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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 mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.
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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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In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
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I'm a biographer I can live with a little hyperbole.
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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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Unless you devote an enormous amount of time to anticipating the future, you won't have any future.
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Writing about dead white males seems to be out of favor among academics.
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A romantic striving for an impossible ideal.
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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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