When News Of The Crash Came, Probably

Once The Brokerage House, Rather Than The Bank, Became The Locus For American Savings, That Money Would Find Its Way Into The Stock Market, Because The Broker Was Someone With A Much Higher Tolerance For Risk Than The Banker.

Mutual Fund Managers Are Trapped In This Rather Deadly Vicious Circle: The More Successful They Are, The More Money Flows Into Their Mutual Fund. Then, It Is More Difficult For Them To Beat The Market Averages Or Even To Match Their Own Past Performance.

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.

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.

The American Public Historically Was Really Not Part Of The Stock Market.