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.

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

I don't think that a mutual fund that invests exclusively in biotech start-ups or invests exclusively in companies in Thailand offers any great safety or diversification.

Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.

Unless you devote an enormous amount of time to anticipating the future, you won't have any future.

The American public historically was really not part of the stock market.

I think there's a tide that tends to carry historians back to the past.