Book of the Day: Markets Never Forget (But People Do) by Ken Fisher
Thursday, Feb 02, 2012 at 10:09amMarkets Never Forget (But People Do), long-time Forbes columnist and CEO of Fisher Investments, , takes aim at some major market memory mishaps -- like the idea that stocks have become inherently more volatile or that wildly above- or below-average returns are abnormal. He shows how, early in every recovery, investors don't believe in it, often at a huge cost. In investing, ideology is deadly.
, legendary investor, was famous for saying, "The four most dangerous words in investing are, 'This time it's different.'" Though history doesn't repeat, not exactly, he knew that history is an excellent guide for investors. InFor another great book on a similar subject, check out This Time is Different by and .
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Markets Never Forget (But People Do)
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,Hardcover
$38.00
Reader Reward Price: $34.20
Sir John Templeton, legendary investor, was famous for saying, "The four most dangerous words in investing are, 'This time it's different.'" He knew that though history doesn't repeat, not exactly, history is an excellent guide for investors.
In Markets Never Forget But People Do: How Your Memory Is Costing You Money and Why This Time Isn't Different, long-time Forbes columnist, CEO of Fisher Investments, and 4-time New York Times bestselling author Ken Fisher shows how and why investors' memories fail them--and how costly that can be. More important, he shows steps investors can take to begin reducing errors they repeatedly make. The past is never indicative of the future, but history can be one powerful guide in shaping forward looking expectations. Readers can learn how to see the world more clearly--and learn to make fewer errors--by understanding just a bit of investing past.
This Time Is Different
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,Trade paperback
$32.50
Reader Reward Price: $29.25
The acclaimed New York Times bestselling history of financial crises
Throughout history, rich and poor countries alike have been lending, borrowing, crashing, and recovering their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong.
Covering sixty-six countries across five continents and eight centuries, This Time Is Different presents a comprehensive look at the varieties of financial crises--including government defaults, banking panics, and inflationary spikes--from medieval currency debasements to the subprime mortgage catastrophe. Reinhart and Rogoff provocatively argue that financial combustions are universal rites of passage for emerging and established market nations.
A remarkable history of financial folly, This Time Is Different will influence financial and economic thinking and policy for decades to come.