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.
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.
Because of the love affair between the American public and the stock market, it is possible for entrepreneurs, technological visionaries and inventors of every sort to get financing.
Hamilton had a certain social versatility, and in a way, that is understandable because he's someone who rises up from the lowest rungs of society and then scales the top. And he gets to know people from every strata along the way.
I was quite bowled over by Isabel Wilkerson's masterly saga, 'The Warmth of Other Suns.'
I'm sure there are many more people who can identify with failure and hardship in life than with the success of an Alexander Hamilton or a John D. Rockefeller.
