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This is a really good book that absolutely nails some key things that investors should remember (but seldom do): Events are rarely unprecedented. People often over-react to the noise on CNBC and the other business media and fail to consider historical precedent. Over time, it has paid to invest in the market and it has not paid to jump in and out. The authors also point out the flaws in some commonly reported statistics.
If there is one thing that I question in the authors' analysis (and this would not surprise them), it is their nonchalance regarding debt. The debt that has exploded in the last three years is -- in my view anyway -- truly unprecedented, and the demographic trends we are facing (an aging population more dependent on government programs) does not bode well. The only reason the debt is remotely manageable are low interest rates caused by Fed manipulation -- something that cannot last forever. When those rates increase, debt service will become more and more problematic.
The authors would probably disagree, and, frankly, I hope they are right and I am wrong. Still, the overall message of the book that things tend to work out over time and that we somehow muddle through is encouraging and has been historically valid. Let's hope we do it again.
5 of 6 people found this review helpful
What disappointed you about Markets Never Forget (But People Do)?
The messages may well be very good ... but for me the combined content and narrator's delivery made this one of the most annoying books I've listened to. I'd describe the delivery style as almost "mocking".
Repetition may well be the mother of all learning but in this book it is overdone.
Listening to this book is a little like knocking your head on a brick wall ...you can't wait till it is all over.
What was most disappointing about Ken Fisher’s story?
How did the narrator detract from the book?
The narrator's style matched the annoying content.
Any additional comments?
I'll look carefully for this author and narrator in future and AVOID them both
1 of 1 people found this review helpful
Any additional comments?
Although perhaps just a trifle contrarian, Fisher has produced a very interesting discussion of a wide variety of what he sees as economic canards. The central thrust of the book is that investors memories are fallible and short-term, almost everything that the financial media likes to consider to be exceptional, rare and new: isn't. Although occasionally laboring his points, Fisher produces cogent arguments and evidence to back up his claims. Whether you think he is right or not, there is plenty here that will interest any student of markets or financial history.