One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It's your window into a very large world.
Because of the love affair between the American public and the stock market, it is possible for entrepreneurs, technological visionaries and inventors of every sort to get financing.
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.
You don't want too much fear in a market, because people will be blinded to some very good buying opportunities. You don't want too much complacency because people will be blinded to some risk.
The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions.
Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.
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.
Mutual funds give people the sense that they're investing with the big boys and that they're really not at a disadvantage entering the stock market.
The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.
Stock market corrections, although painful at the time, are actually a very healthy part of the whole mechanism, because there are always speculative excesses that develop, particularly during the long bull market.
The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.
There is no country in the world where it's as easy to find venture capital in the stock market as the United States.
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.
I think one of the important things that's happened in the course of the century is that life expectancy has doubled.
There is a kind of fear, approaching a panic, that's spreading through the Baby Boom Generation, which has suddenly discovered that it will have to provide for its own retirement.
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