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.

In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.

After being Washington's aide for four years and becoming the hero of Yorktown, Hamilton was viewed with a great deal of suspicion because of his association with Tories.

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.

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.

A lot of the money in the stock market is really our national retirement plan, for better or worse.

The securities laws of the 1930s were so important because it forced companies to file registration statements and issue prospectuses, and it remedied the imbalance of information.