The history you do not know …

One of the ex-Presidents of the United States, Harry Truman is believed to have said, “The only thing new in the world is the history you do not know.”

I was reminded of this while talking to someone. When I asked a question, he responded stating that, such a thing has never happened. What he left unsaid was, ” … hence it is not going to happen”.

There are two important issues with such line of thinking.

  1. While talking about history, we often forget that what has not happened so far can still happen some time in future.
  2. The history one is talking about has limitations. It is either the recorded history or the one that one has read about or seen. This is what reminded of Harry Truman’s statement.

There is almost nothing new, except that part of history that we have not read. This is especially true in things involving human nature and human mind. Some things do not change. These include our basic instincts and emotions.

Read as much as possible about the history.

Investment is closely related to how one behaves rather than which is the best investment option or whether the timing is correct. If human emotions have not changed over the millennia, it makes life easy – just read.

This is exactly the purpose why I read many books on investment history and wrote “Riding The Roller Coaster – Lessons from financial markets we repeatedly forget”.

#RidingTheRollerCoaster

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What IFAs can teach clients about market cycles

It is very tempting for clients to be in the next best investment and one often regrets missing out on something.

Read on …. What IFAs can teach clients about market cycles

Awesome Book – review on www.kobo.com

 Review of the book along with ***** rating

Awesome Book

Bible for investors, in fact this is a must must must read for all who are new , invested and expert. This book should be referred each year to refresh memories of Booms followed by Busts. A must book for all persons who wants to understand investor behavior across market cycles. The teaches us how not lose money. Highly Recommended.

Testimonial from Mr. Mukesh Dedhia

Mr. Mukesh Dedhia, a reputed figure in the financial services industry has this to say about the book:

“A singular book that gives information on all the past market highs and crashes, the human biases that lead to extravaganzas and how mental stability helps you protect these roller coaster rides.”

Thank you Mukeshbhai for posting this review on http://www.amazon.in

#RidingTheRollerCoaster

Learn from others’ mistakes and experiences as it is costly to make mistakes

Mr. Nilesh Shah, MD – Kotak Mahindra Asset Management Company Ltd recommends the book strongly. Here is what he has to say,

Wise men say, “We should all learn from our mistakes”. Someone added, “Learn from others’ mistakes and experiences as IT IS COSTLY TO MAKE MISTAKES .”

This is true in the world of investing, too. For investors, it is impossible to go through all experiences, especially what happened in the past. Amit Trivedi writes about various episodes of booms and busts in the history of financial markets in his book “Riding The Roller Coaster – Lessons from financial market cycles we repeatedly forget”.

It is a very well-researched book and yet so easy to read for even those who are new to finance and investing. I thoroughly enjoyed reading it and strongly recommend FOR READING AND REMEMBRANCE

#RidingTheRollerCoaster

Amnesia

Jason Zweig writes the following in “The Devil’s Financial Dictionary”:

Wall Street suffers from many ailments also, but amnesia is foremost among them. By burying the past, the financial community can disavow any responsibility to learn from its own mistakes and can minimise the odds that its clients will be able to learn from other people’s mistakes.

In the above paragraph, “Wall Street” is representative of investors at large. That is exactly why in the “Introduction” chapter of the book I have written the following words:

Our memory is short-lived. I would strongly suggest you keep reading this book every year to keep your memory refreshed. (That is why we are printing this book in hardbound format).

#RidingTheRollerCoaster – 253

Happy Teachers’ Day

History has been one of the finest teachers for mankind. We have learnt so much from what our earlier generations have done.

On this Teachers’ Day, I bow down to all the teachers – present and the past, who have helped me learn and grow in life. Your contribution has been immense in making this book possible.

#RidingTheRollerCoaster – 232