Ron Chernow

In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms. ↗

— Ron Chernow

#brokerage #firms #household #massive #savings

Mutual funds give people the sense that they're investing with the big boys and that they're really not at a disadvantage entering the stock market. ↗

— Ron Chernow

#disadvantage #entering #funds #give #investing

Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks. ↗

— Ron Chernow

#funds #historically #individual #mutual #mutual funds

One of the special characteristics of New York is that it is different from a London or a Paris because it's the financial capital, and the cultural capital, but not the political capital. ↗

— Ron Chernow

#capital #characteristics #cultural #different #financial

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

#aspects #different #different aspects #economy #into

Partly because his life ended before the age of 50, Hamilton was defined by the other founding fathers, and he managed, with amazing consistency, to alienate most of them. ↗

— Ron Chernow

#alienate #amazing #because #before #consistency

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

#dangerous #effects #hold #individual #market

The American public historically was really not part of the stock market. ↗

— Ron Chernow

#american public #historically #market #part #public

The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification. ↗

— Ron Chernow

#best #diversification #funds #mutual #mutual funds

The Great Inflation of the 1970s destroyed faith in paper assets, because if you held a bond, suddenly the bond was worth much less money than it was before. ↗

— Ron Chernow

#because #before #bond #destroyed #faith