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

Quote by Ron Chernow

Topics: Ron Chernow Quotes

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...

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...

There is a kind of fear, approaching a panic, that's spreading through the Baby Boom...

There is a kind of fear, approaching a panic, that's spreading through the Baby Boom...

The founding fathers were not only brilliant, they were system builders and systematic thinkers. They...

The founding fathers were not only brilliant, they were system builders and systematic thinkers. They...

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

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

If you go back to the time of J.P. Morgan, the world of high finance...

If you go back to the time of J.P. Morgan, the world of high finance...

Because of the love affair between the American public and the stock market, it is...

Because of the love affair between the American public and the stock market, it is...

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.

I have developed a very strong partiality for the dead: they don't talk back, they...

I have developed a very strong partiality for the dead: they don't talk back, they...

The Great Inflation of the 1970s destroyed faith in paper assets, because if you held...

The Great Inflation of the 1970s destroyed faith in paper assets, because if you held...

I think one of the important things that's happened in the course of the century...

I think one of the important things that's happened in the course of the century...

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...

We really haven't had very much experience with people funding their retirement out of the...

We really haven't had very much experience with people funding their retirement out of the...

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...

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...

Any bull market covers a multitude of sins, so there may be all sorts of...

Any bull market covers a multitude of sins, so there may be all sorts of...

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...

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...

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

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

When news of the crash came, probably a lot of people in small towns and...

When news of the crash came, probably a lot of people in small towns and...