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.

When the market is just going up, up, and up, we all tend to be blind to the holes in the market. They're all papered over by the rise.

Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes.

Ron Chernow Quotes