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.
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Much excellent long-term advice from a real pro.
Fisher does not believe in the possibility of high or hyper-inflation in the US caused by US national debt, nor does he think the US had a debt problem at all. He does not recommend buying ANY gold. That said, this is still a very fine investment book covering long-term trends over the history of the US stock market. Listen to it any time you start wondering if stocks are a good investment choice or you start panicking. Novice, retired, or professional, this is a very good listen.