We really havent had very much experience with people funding their retirement out of the stock market, and we dont know, frankly, how it would work under every scenario. – 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
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
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