After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.
More Quotes from Ron Chernow:
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.Ron Chernow
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.
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
As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is a very easy and safe and that you're a financial genius.
Ron Chernow
The mutual fund industry has been very successful at promoting itself in this glamorous way. Mutual funds are actually vast, impersonal bureaucratic structures, and yet they were clever enough to give a human face to the mutual funds.
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
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Based on Topics: Generation QuotesBased on Keywords: traumatized
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