Ron Chernow
Author
1949-03-03
Quotes by Ron Chernow
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I can bear to hear of imputed or real errors. The man who wishes to stand well in the opinion of others must do this, because he is thereby enabled to correct his faults or remove the prejudices which are imbibed against him.
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(regarding Charles Lee) This eccentric and notably slovenly man was always trailed by his beloved dogs. When I can be convinced that men are as worthy objects as dogs, he once explained, I shall transfer my benevolence to them.
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And shall we at last become the victims of our own abominable lust of gain? Forbid it, Heaven. Washington himself could be a hard driving businessman, yet he found the rapacity of many vendors unconscionable. As he told George Mason, he thought it the intent of the speculators, various tribes of money makers and stock jobbers of all denominations, to continue the war for their own private emolument, without considering that their avarice and thirst for gain must plunge everything in one common ruin.
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Washington once advised his adopted grandson that where there is no occasion for expressing an opinion, it is best to be silent. For there is nothing more certain than that it is at all times more easy to make enemies than friends.
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Jay was attacked with peculiar venom. Near his New York home, the walls of a building were defaced with the gigantic words, 'Damn John Jay. Damn everyone that won't damn John Jay. Damn everyone that won't put up lights in the windows and sit up all night damning John Jay.
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The British were unhinged by the colonists' unorthodox fighting style and shocking failure to abide by gentlemanly rules of engagement. One scandalized British soldier complained that the American riflemen 'conceal themselves behind trees etc. till an opportunity presents itself of taking a shot at our advance sentries, which done, they immediately retreat. What an unfair method of carrying on a war!
Read quote -
And shall we at last become the victims of our own abominable lust of gain? Forbid it, Heaven. Washington himself could be a hard driving businessman, yet he found the rapacity of many vendors unconscionable. As he told George Mason, he thought it the intent of the speculators, various tribes of money makers and stock jobbers of all denominations, to continue the war for their own private emolument, without considering that their avarice and thirst for gain must plunge everything in one common ruin.
Read quote -
Washington once advised his adopted grandson that where there is no occasion for expressing an opinion, it is best to be silent. For there is nothing more certain than that it is at all times more easy to make enemies than friends.
Read quote -
The British were unhinged by the colonists' unorthodox fighting style and shocking failure to abide by gentlemanly rules of engagement. One scandalized British soldier complained that the American riflemen 'conceal themselves behind trees etc. till an opportunity presents itself of taking a shot at our advance sentries, which done, they immediately retreat. What an unfair method of carrying on a war!
Read quote -
I can bear to hear of imputed or real errors. The man who wishes to stand well in the opinion of others must do this, because he is thereby enabled to correct his faults or remove the prejudices which are imbibed against him.
Read quote -
(regarding Charles Lee) This eccentric and notably slovenly man was always trailed by his beloved dogs. When I can be convinced that men are as worthy objects as dogs, he once explained, I shall transfer my benevolence to them.
Read quote -
Jay was attacked with peculiar venom. Near his New York home, the walls of a building were defaced with the gigantic words, 'Damn John Jay. Damn everyone that won't damn John Jay. Damn everyone that won't put up lights in the windows and sit up all night damning John Jay.
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Partly because his life ended before the age of 50, Hamilton was defined by the other founding fathers, and he managed, with amazing consistency, to alienate most of them.
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There were two qualities about the mutual funds of the 1920s that made them extremely speculative. One was that they were heavily leveraged. Two, mutual funds were allowed to invest in other mutual funds.
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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.
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One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It's your window into a very large world.
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After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.
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Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.
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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.
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The founding fathers were not only brilliant, they were system builders and systematic thinkers. They came up with comprehensive plans and visions.
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