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Ron Chernow quotes

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.

A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.

The history of Wall Street is inseparable from New York.

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.

The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions.

As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is a very easy and safe and that you're a financial genius.

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

There is no country in the world where it's as easy to find venture capital in the stock market as the United States.

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.

A lot of the money in the stock market is really our national retirement plan, for better or worse.

After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.

By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.

Early on, New York already had a national and even international identity.

Hamilton had one of those extraordinary 18th-century minds that touched on virtually every major topic of the day.

I think one of the important things that's happened in the course of the century is that life expectancy has doubled.

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

I'm a biographer; I can live with a little hyperbole.

In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.

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

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.