The public has lost faith in the ability of Social Security and Medicare to provide for old age. Theyve lost faith in the banking system and in conventional medical insurance. – 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
There is a kind of fear, approaching a panic, thats spreading through the Baby Boom Generation, which has suddenly discovered that it will have to provide for its own retirement. – Ron Chernow
You dont want too much fear in a market, because people will be blinded to some very good buying opportunities. You dont want too much complacency because people will be blinded to some risk. – Ron Chernow