"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"

This quote by Ron Chernow suggests that those who buy mutual funds are trying to find another person to do the thinking for them. However, the reality that they can move their cash around the family of shared funds with simply a call provides a sense of control and power, as if they are playing the role of a magnate. This quote indicates that investors in mutual funds are looking for a sense of security and control, however likewise wish to feel like they supervise of their own investments. It recommends that investors in mutual funds are trying to find a balance in between having another person do the believing for them, while still seeming like they are in control of their own investments.