A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.
More Quotes from Ron Chernow:
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.Ron Chernow
I think one of the important things that's happened in the course of the century is that life expectancy has doubled.
Ron Chernow
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.
Ron Chernow
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
I think there's a tide that tends to carry historians back to the past.
Ron Chernow
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