"The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance."
-Ron Chernow
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"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.“
-Ron Chernow
posted in Finance
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"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."
-Ron Chernow
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"I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives."
-Ron Chernow
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"The history of Wall Street is inseparable from New York."
-Ron Chernow
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"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
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"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."
-Ron Chernow
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"Under capitalism, man exploits man. Under communism, it's just the opposite."
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"Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive."
-John Kenneth Galbraith
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"The poor don't know that their function in life is to exercise our generosity."
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"Security depends not so much upon how much you have, as upon how much you can do without."
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"It's not the having, it's the getting."
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"In 1973, women got 59 cents on the dollar now we are getting 74 cents on the dollar. In the area of finance and business, we are at 68 cents on the dollar."
-Billie Jean King
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