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
american-author course life
I think one of the important things that's happened in the course of the century is that life expectancy has doubled.
nice different investing
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.
new-york identity national-identity
Early on, New York already had a national and even international identity.
successful past average
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.
long healthy excess
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.
past thinking tides
I think there's a tide that tends to carry historians back to the past.
new-york wall inseparable
The history of Wall Street is inseparable from New York.
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.
new-york paris political
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.
house tolerance risk
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.
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.
retirement people funding
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.