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
people mutual-fund relentless
The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.
writing white favors
Writing about dead white males seems to be out of favor among academics.
art book character
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.
impossible strive ideals
A romantic striving for an impossible ideal.
enormous anticipating-the-future amount
Unless you devote an enormous amount of time to anticipating the future, you won't have any future.
moving thinking play
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.
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.
wall people world
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.
The American public historically was really not part of the stock market.
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.
numbers interesting people
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.
sex punishment people
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.
law tyrants issues
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.
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.