After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.

After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.

I think those who invest in mutual funds want someone else to do the thinking for them. But the fact that they can move the money around the family of mutual funds just through a phone call lets them feel that they can play tycoons.

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.

Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund. Then, it is more difficult for them to beat the market averages or even to match their own past performance.

Writing about dead white males seems to be out of favor among academics.

A prudent silence will frequently be taken for wisdom and a sentence or two cautiously thrown in will sometimes gain the palm of knowledge, while a man well informed but indiscreet and unreserved will not uncommonly talk himself out of all consideration and weight. (Alexander Hamilton's 'thesis on discretion' written to his son James shortly before his fatal duel with Burr.)