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.
More Quotes from Ron Chernow:
Early on, New York already had a national and even international identity.Ron Chernow
Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.
Ron Chernow
By the late 1980s people realized that houses did not always appreciate and that they could fluctuate like any other market commodity.
Ron Chernow
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.
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One of the special characteristics of New York is that it is different from a London or a Paris because it's the financial capital, and the cultural capital, but not the political capital.
Ron Chernow
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