A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.
Ron ChernowWe really haven't had very much experience with people funding their retirement out of the stock market, and we don't know, frankly, how it would work under every scenario.
Ron ChernowStock 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.
Ron Chernow