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Nov 7, 2008 4:20 pm

I have found that I love history.  If you believe history repeats itself, or things are cyclical in nature, maybe you can find solace for the present and future.

 
If you know something about history, chances are you can tell a good story to someone.  I've found that some people enjoy being educated about something they never even knew happened.
 
I came across this book that looks very appealing if you are into economic and market history.  http://www.amazon.com/Panic-1907-Lessons-Learned-Markets/dp/047015263X/ref=sr1_1?ie=UTF8&s=books&qid=1226092573&sr=1-1
 
(Kind of ironic it was published August 2007...exactly 100 years after the crash in 1907 and right at the time this crash began)
 
On this website, which is about the book (not the book itself), I've only read through the introduction, but already have found plenty of pieces that could be used to share with clients or prospects. 
 
http://bigpicture.typepad.com/comments/2007/11/the-panic-of-19.html
 
This is my first market crash, even bear market.  Let's just say I was alive during the dot com crash, but was unaware of it at the time.  So I can't speak about personal experiences, which is a negative thing in my opinion.
 
I feel the historical knowledge I've learned has allowed me to tell stories as they relate today to clients and prospects, and most of them thoroughly enjoy it.
 
If anyone like BondGuy and others care to share some of the stories you tell your clients,  I'd enjoy hearing them.
Nov 7, 2008 5:18 pm

Just for your library, another book I've gotten some good mileage out of:
Devil Take the Hindmost: A History of Financial Speculation

Nov 7, 2008 7:52 pm

I love history too.

 
Sometimes though I worry that perhaps looking at past history is an overly simple way of trying to eleviate bear market fears.
 
I do believe this bear market will end like all others have.  What does the last bear market have to do with this one however??
 
Our policy makers have backed us into a corner with this huge deficit that everyone keeps telling us not to worry about.
 
Investment bank CEO's who acted like geniuses weren't much better than drunken sailor gamblers in a whore house gaming room ramping up the leverage to 30 and 40 to 1.
 
Everyone says "Don't worry about it".  I'm sorry.  I'm starting to worry but hanging in there.
Nov 7, 2008 8:12 pm
glass man:

I love history too.

 
Sometimes though I worry that perhaps looking at past history is an overly simple way of trying to eleviate bear market fears.
 
I do believe this bear market will end like all others have.  What does the last bear market have to do with this one however??
 
Our policy makers have backed us into a corner with this huge deficit that everyone keeps telling us not to worry about.
 
Investment bank CEO's who acted like geniuses weren't much better than drunken sailor gamblers in a whore house gaming room ramping up the leverage to 30 and 40 to 1.
 
Everyone says "Don't worry about it".  I'm sorry.  I'm starting to worry but hanging in there.
 
What's the worst that could happen...the country goes bankrupt?  Oh well....
 
I guess we should all be buying Swiss Franks (yes, franks, as in hot dogs).