Investing in U.S. Financial History

Understanding the Past to Forecast the Future

De: Mark J. Higgins CFA CFP®

Narrado por: Fred Sanders

Investors who ignore the past are lost in the present and blind to the future.

Most people rely only on their life experience to make investment decisions. This causes them to overlook cyclical forces that repeatedly reshape economies and markets. Investing in U.S. Financial History fills this void by recounting the comprehensive financial history of the United States of America. It begins with Alexander Hamilton’s financial programs in 1790 and ends with the Federal Reserve’s battle with inflation in 2023.

Authored by Mark Higgins, an experienced investment advisor and financial historian, this book will help you:

• Understand key drivers of financial crises and the principles for managing them.

• Recognize warning signs of speculative manias that lead to asset bubbles.

• Understand why few investors outperform market indices and why index funds are preferable for most individuals and institutions.

• Identify the major threats to U.S. economic prosperity in the twenty-first century.

Investing in U.S. Financial History reveals that there is almost no financial event that is unprecedented. By understanding the fundamental drivers underpinning key economic events, you will internalize investment principles, avoid common pitfalls, and resist the temptation to panic amid market volatility.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2024 Enlightened Investor LLC (P)2024 Enlightened Investor LLC

Comprehensive and Thoughtful

Probably one of the better books I’ve gone through. Most books claim to be complete or comprehensive, but this literally takes the reader through a comprehensive history of the US financial markets and history. Higgins has pulled off a legit work with this one!

Must Read

This book does an amazing job of using historical facts to understand what is happening in current events in potential future strategies for investing.

A treasure for finance and history lovers!

I was thrilled to meet Mark at CFA Institute LIVE in Chicago, where I first learned about his book "Investing in U.S. Financial History". Reading this book felt like uncovering a hidden map to America’s financial soul. As someone fascinated by market cycles, I was deeply moved by Higgins’ approach, diving into 230 years of booms and busts to explain how history shapes asset management. His novel idea of going far beyond typical backtesting, tracing patterns back to Hamilton’s era, resonates with me. It’s a fresh lens that makes today’s volatility feel less daunting. The research is world-class; you can sense the painstaking detail in every story, from the panic of 1907 to the 2008 crisis. As an index fund advocate, I cheered his historical case for why active investing often falls short. This book is a treasure for anyone who loves finance and history, blending rigorous scholarship with heartfelt lessons. Absolutely inspiring!

Good History, But Not Much On How to Use It

I listened to this book over several days. Overall, I enjoyed it. Perhaps it's the way it's titled, but I was expecting more on investing and less on history. Regardless, if you're not familiar with the financial history of the U.S., this is a great place to start.

One slightly annoying feature of the Audible version are all the "Point of Interest" side notes dispersed throughout the book. Although great, the constant jumping in and out of them makes it harder to keep up with the story. I don't have a solution other than maybe read them all at the end of each chapter or maybe as an appendix at the end of the book.