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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Testimonial on www.amazon.in

 

 

“Amit takes us down the memory lane and re-caps the previous rallies and the turmoils. It is very interesting when he says that markets do fall because they do rise. The book is punched with interesting observations from similar books and mixes a good bunch of humour in between. This is a good read to set our expectations as an investor. Very good guide when we need help to learn the right behaviour in the market, as an investor. I enjoyed reading & learning.”

Rohit Shah on http://www.amazon.in

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

You can’t direct the winds, but you can adjust the sails

“You can’t direct the winds, but you can adjust the sails” – this is one of my favourite lines and I have used it in the book. Here is a brilliant post highlighting the same message:

Adjust your sails …

It is also the same as understanding what you can control and what you cannot; and then focusing all your energies on controlling what is in your control.

#RidingTheRollerCoaster

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

… the tuition charged by the market is quite high …

This is what Rajeev Thakkar, CIO, Parag Parikh Mutual Fund has to say about the book:

George Santayana has said “Those who cannot remember the past are condemned to repeat it”. Amit Trivedi’s book helps us live through and experience the past vicariously and helps us in avoiding a repeat of the past mistakes. For those who are contemplating not reading this book, there is an alternative. They could directly try investing and the markets will teach them. However the tuition charged by the market is quite high!

#RidingTheRollerCoaster –