Understanding the Past to Forecast the Future

Mark J. Higgins, CFA, CFP®

Financial Historian, Author, and Speaker on Using History to Decipher Financial Markets

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Best Book in “Finance” at 2024 New York City Big Book Awards

Best Book in “Business: Personal Finance/Investing” at the American Book Fest’s “Best Book Awards”

Bronze Medal in “Personal Finance/ Retirement Planning/Investing” in 2024 Axiom Book Awards

Highlights

Vices, Virtues, and a Little Humor: 30 Quotes from Financial History

May 19, 2025 | Articles

Vices, Virtues, and a Little Humor: 30 Quotes from Financial History

Why do smart investors repeat the same mistakes generation after generation? Because financial instincts — like fear, envy, and over…

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The Six Stages of Asset Bubbles

December 01, 2022 | Articles

The Six Stages of Asset Bubbles

Countless asset bubbles have inflated and burst over the course of history and it is an absolute certainty that more will come. Bub…

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Celebrating One Year of Investing in U.S. Financial History

February 27, 2025 | Newsletters

Celebrating One Year of Investing in U.S. Financial History

Investing in U.S. Financial History: Understanding the Past to Forecast the Future was published exactly one year ago today. Th…

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Why study financial history?

“There is no better teacher than history in determining the future…There are answers worth billions of dollars in a $30 history book.”

-Charles T. Munger Vice Chairman of Berkshire Hathaway

Failure to understand it is costly…

“There can be few fields of human endeavor in which history counts for so little as in the world of finance. Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of those who do not have the insight to appreciate the incredible wonders of the present.”

-John Kenneth Galbraith, Economist

Few investors understand financial history…

“There are no investors and no senior policymakers I know—and I know many and I know the best—who have any excellent understandings of what happened in the past and why.”

-Ray Dalio Investor