By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.
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
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
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
Hamilton had one of those extraordinary 18th-century minds that touched on virtually every major topic of the day.
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 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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Based on Keywords: fluctuateI love my man as my fellow; but his scepter, real, or usurped, extends not to me, unless the reason of an individual demands my homage; and even then the submission is to reason, and not to man.
Mary Wollstonecraft
In this loveless everyday life eroticism is a substitute for love.
Henri Lefebvre
Good night, and good luck.
Edward R. Murrow