Best 56 quotes of Ron Chernow on MyQuotes

Ron Chernow

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    Ron Chernow

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

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    Ron Chernow

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

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    Ron Chernow

    After being Washington's aide for four years and becoming the hero of Yorktown, Hamilton was viewed with a great deal of suspicion because of his association with Tories.

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    Ron Chernow

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

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    Ron Chernow

    Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes.

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    Ron Chernow

    A prudent silence will frequently be taken for wisdom and a sentence or two cautiously thrown in will sometimes gain the palm of knowledge, while a man well informed but indiscreet and unreserved will not uncommonly talk himself out of all consideration and weight. (Alexander Hamilton's 'thesis on discretion' written to his son James shortly before his fatal duel with Burr.)

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    Ron Chernow

    A romantic striving for an impossible ideal.

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    Ron Chernow

    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.

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    Ron Chernow

    As the bull market goes on, people who take great risks achieve great rewards, seemingly without punishment. It's like crime without punishment or sex without sin.

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    Ron Chernow

    Because of the love affair between the American public and the stock market, it is possible for entrepreneurs, technological visionaries and inventors of every sort to get financing.

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    Ron Chernow

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

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    Ron Chernow

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

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    Ron Chernow

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

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    Ron Chernow

    I don't think that a mutual fund that invests exclusively in biotech start-ups or invests exclusively in companies in Thailand offers any great safety or diversification.

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    Ron Chernow

    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.

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    Ron Chernow

    I'm dubious about having Social Security put into the stock market. I think that we have gotten very far away from the idea that there's something sacrosanct about retirement investments.

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    Ron Chernow

    In the 1920s, Wall Street was a world that was really dominated by professional speculators and stock pools. These people had a monopoly over information.

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    Ron Chernow

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

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    Ron Chernow

    In waiting for the glorious moment of that first book contract, writers must have giant reservoirs of patience. Yet they must persevere because they don't know the destiny that is being worked out for them. They creep humbly along the ground, without the spacious aerial vision of their lives that would show them the destiny in store for them.

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    Ron Chernow

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

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    Ron Chernow

    I think those who invest in mutual funds want someone else to do the thinking for them. But the fact that they can move the money around the family of mutual funds just through a phone call lets them feel that they can play tycoons.

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    Ron Chernow

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

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    Ron Chernow

    Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund. Then, it is more difficult for them to beat the market averages or even to match their own past performance.

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    Ron Chernow

    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.

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    Ron Chernow

    Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.

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    Ron Chernow

    One of the special characteristics of New York is that it is different from a London or a Paris because it's the financial capital, and the cultural capital, but not the political capital.

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    Ron Chernow

    One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It's your window into a very large world.

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    Ron Chernow

    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.

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    Ron Chernow

    That strategy of buy and hold, which is the sound and sensible one for the individual, can have very dangerous and perverse effects for the market as a whole.

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    Ron Chernow

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

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    Ron Chernow

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

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    Ron Chernow

    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.

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    Ron Chernow

    The history of Wall Street is inseparable from New York.

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    Ron Chernow

    The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.

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    Ron Chernow

    There is a kind of fear, approaching a panic, that's spreading through the Baby Boom Generation, which has suddenly discovered that it will have to provide for its own retirement.

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    Ron Chernow

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

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    Ron Chernow

    The richly cadenced prose is hypnotic, the research prodigious, the analysis acute, the mood spellbinding, and the cast of characters mythic in scale. I cannot conceive of a better book about Capitol Hill. An unforgettable, epic achievement in the art of biography.

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    Ron Chernow

    The securities laws of the 1930s were so important because it forced companies to file registration statements and issue prospectuses, and it remedied the imbalance of information.

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    Ron Chernow

    Washington once advised his adopted grandson that where there is no occasion for expressing an opinion, it is best to be silent. For there is nothing more certain than that it is at all times more easy to make enemies than friends.

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    Ron Chernow

    We really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario.

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    Ron Chernow

    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.

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    Ron Chernow

    When news of the crash came, probably a lot of people in small towns and farms across America felt a sense of grim satisfaction that the sinners had finally been punished for their wicked ways.

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    Ron Chernow

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

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    Ron Chernow

    You don't want too much fear in a market, because people will be blinded to some very good buying opportunities. You don't want too much complacency because people will be blinded to some risk.

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    Ron Chernow

    And shall we at last become the victims of our own abominable lust of gain? Forbid it, Heaven." Washington himself could be a hard driving businessman, yet he found the rapacity of many vendors unconscionable. As he told George Mason, he thought it the intent of the speculators, various tribes of money makers and stock jobbers of all denominations, to continue the war for their own private emolument, without considering that their avarice and thirst for gain must plunge everything in one common ruin.

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    Ron Chernow

    An essential difference between the American and French revolutions was that the American version allowed a search for many truths, while French zealots tried to impose a single sacred truth that allowed no deviation. " page 714

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    Ron Chernow

    As often is the case with addictions, the fanciful notion of a gradual discontinuance only provided a comforting pretext for more sustained indulgence.

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    Ron Chernow

    Finally, he [John F. Mercer] ridiculed Hamilton as an upstart, "a mushroom excrescence," who did not deserve the prominence he had gained.

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    Ron Chernow

    George Washington possessed the gift of inspired simplicity, a clarity and purity of vision that never failed him. Whatever petty partisan disputes swirled around him, he kept his eyes fixed on the transcendent goals that motivated his quest. As sensitive to criticism as any other man, he never allowed personal attacks or threats to distract him, following an inner compass that charted the way ahead. For a quarter century, he had stuck to an undeviating path that led straight to the creation of an independent republic, the enactment of the constitution and the formation of the federal government. History records few examples of a leader who so earnestly wanted to do the right thing, not just for himself but for his country. Avoiding moral shortcuts, he consistently upheld such high ethical standards that he seemed larger than any other figure on the political scene. Again and again, the American people had entrusted him with power, secure in the knowledge that he would exercise it fairly and ably and surrender it when his term of office was up. He had shown that the president and commander-in-chief of a republic could possess a grandeur surpassing that of all the crowned heads of Europe. He brought maturity, sobriety, judgement and integrity to a political experiment that could easily have grown giddy with its own vaunted success and he avoided the back biting envy and intrigue that detracted from the achievements of other founders. He had indeed been the indispensable man of the american revolution.

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    Ron Chernow

    Hamilton wanted to lead the electorate and provide expert opinion instead of consulting popular opinion. He took tough, uncompromising stands and gloried in abstruse ideas in a political culture that pined for greater simplicity. Alexander Hamilton triumphed as a doer and thinker, not as a leader of the average voter. He was simply too unashamedly brainy to appeal to the masses. Fisher Ames observed of Hamilton that the common people don't want leaders 'whom they see elevated by nature and education so far above their heads.