Unless You Devote An Enormous Amount Of

That Strategy Of Buy And Hold, Which Is The Sound And Sensible One For The Individual, Can Have Very Dangerous And Perverse Effects For The Market As A Whole.

What I Find Very Interesting About The Mutual Funds Managers Is That Here Are People Who Are The New Masters Of The Universe. They're Managing Billions, Yet They're Subject To This Quiet Daily Tyranny Of Numbers.

By The Late 1980s People Realized That Houses Did Not Always Appreciate And That They Could Fluctuate Like Any Other Market Commodity.

In The 1920s You Could Buy Stocks On Margin. You Could Put 10 Percent Down And Borrow The Rest Against Your Stocks.

If You Go Back To The Time Of J.p. Morgan, The World Of High Finance Was Completely Wholesale. The Prestigious Investment Banks On Wall Street Appealed Exclusively To Large Corporations, Governments, And To Extremely Wealthy Individuals.