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.

Quote by Ron Chernow

Topics: Ron Chernow Quotes

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...

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...

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...

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...

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...

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...

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 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...

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,...

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...

I'm dubious about having Social Security put into the stock market. I think that we...

I'm dubious about having Social Security put into the stock market. I think that we...

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...

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.

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

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

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...

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...

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...

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...

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...

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...