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

Quote by Ron Chernow

Topics: Ron Chernow Quotes

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...

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...

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...

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

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

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...

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...

The best argument for mutual funds is that they offer safety and diversification. But they...

The best argument for mutual funds is that they offer safety and diversification. But they...

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

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

There were two qualities about the mutual funds of the 1920s that made them extremely...

There were two qualities about the mutual funds of the 1920s that made them extremely...

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

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

Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they...

Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they...

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 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...

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...

The public has lost faith in the ability of Social Security and Medicare to provide...

The public has lost faith in the ability of Social Security and Medicare to provide...

The process by which banks create money is so simple that the mind is repelled.

The process by which banks create money is so simple that the mind is repelled.

Bank failures are caused by depositors who don't deposit enough money to cover losses due...

Bank failures are caused by depositors who don't deposit enough money to cover losses due...

Banking was conceived in iniquity and born in sin.

Banking was conceived in iniquity and born in sin.