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08/08/2012

Podcast: How Your Memories Cost You Money


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Speaker Series: How Memories Cost You Money

If history repeats itself, why not change our actions? Surely this would prevent us from making the same mistakes over and over again—right?

Ken Fisher, author of Markets Never Forget (But People Do) and the "Portfolio Strategy" column in Forbes, says that our bad memories are to blame. Citing events and patterns from the not-so-distant past, Fisher believes the answer to America's latest financial woes can be found if we just look at our history.

What we forget:

  • Our memories fail to recognize the repetitive patterns of events we live through.
  • The 1990 recession, which strongly compares to the 2008 financial crisis, is rarely analyzed in public commentary.
  • In Republican presidential election years, returns are great; but in inaugural years, they are negative. Returns are negative in Democratic election years, but great in inaugural years.
  • Republicans and Democrats never look at their own weaknesses in terms of cycle history.

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