The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.
More Quotes from Ron Chernow:
There were two qualities about the mutual funds of the 1920s that made them extremely speculative. One was that they were heavily leveraged. Two, mutual funds were allowed to invest in other mutual funds.Ron Chernow
A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.
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.
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.
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.
Ron Chernow
I'm a biographer; I can live with a little hyperbole.
Ron Chernow
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