Ron Chernow
Ron Chernow
RonaldChernowis an American writer, journalist, historian, and biographer. He has written bestselling and award-winning biographies of historical figures from the world of business, finance, and American politics...
NationalityAmerican
ProfessionNon-Fiction Author
Date of Birth3 March 1949
CountryUnited States of America
ties paper assets
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.
impossible strive ideals
A romantic striving for an impossible ideal.
retirement thinking ideas
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.
saws saving firm
In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
investing bulls safe
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.
enemy opinion silent
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.
bulls may bears
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.
down-and margins percent
In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.
american-author holes tend
When the market is just going up, up, and up, we all tend to be blind to the holes in the market. They're all papered over by the rise.