If you go back to the time of J.P. Morgan, the world of high finance was completely wholesale. The prestigious investment banks on Wall Street appealed exclusively to large corporations, governments, and to extremely wealthy individuals.

Quote by Ron Chernow

Topics: Ron Chernow Quotes

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

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

I think those who invest in mutual funds want someone else to do the thinking...

I think those who invest in mutual funds want someone else to do the thinking...

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

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

That strategy of buy and hold, which is the sound and sensible one for the...

That strategy of buy and hold, which is the sound and sensible one for the...

After being Washington's aide for four years and becoming the hero of Yorktown, Hamilton was...

After being Washington's aide for four years and becoming the hero of Yorktown, Hamilton was...

Partly because his life ended before the age of 50, Hamilton was defined by the...

Partly because his life ended before the age of 50, Hamilton was defined by the...

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

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

When the market is just going up, up, and up, we all tend to be...

When the market is just going up, up, and up, we all tend to be...

The history of Wall Street is inseparable from New York.

The history of Wall Street is inseparable from New York.

The mutual fund industry and small investors are very relentless and very unforgiving if people...

The mutual fund industry and small investors are very relentless and very unforgiving if people...

As the bull market goes on, people who take great risks achieve great rewards, seemingly...

As the bull market goes on, people who take great risks achieve great rewards, seemingly...

You don't want too much fear in a market, because people will be blinded to...

You don't want too much fear in a market, because people will be blinded to...

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

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

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

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

I don't think that a mutual fund that invests exclusively in biotech start-ups or invests...

I don't think that a mutual fund that invests exclusively in biotech start-ups or invests...

By the late 1980s people realized that houses did not always appreciate and that they...

By the late 1980s people realized that houses did not always appreciate and that they...

Writing about dead white males seems to be out of favor among academics.

Writing about dead white males seems to be out of favor among academics.

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

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

Once the brokerage house, rather than the bank, became the locus for American savings, that...

Once the brokerage house, rather than the bank, became the locus for American savings, that...

Mutual funds give people the sense that they're investing with the big boys and that...

Mutual funds give people the sense that they're investing with the big boys and that...