Markets Never Forget (But People Do) by Ken Fisher Summary
Overview of Markets Never Forget (But People Do)
Ever wondered why investors keep repeating costly mistakes? Ken Fisher's bestselling guide reveals how faulty memory sabotages your portfolio while markets remember everything. Endorsed by legendary investor Sir John Templeton, this eye-opening work proves why "this time" is rarely different - and how history can make you wealthy.
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핵심 내용
Why We Keep Making the Same Investing Mistakes
Think back to the last major market crash. Did you feel like the world was ending? That this time was truly different? You weren't alone. Markets have a peculiar quality: they remember everything, but we forget almost instantly. This disconnect between market memory and human amnesia creates a predictable pattern of financial mistakes that repeats across generations. The most brilliant investors struggle to be right more than half the time, not because markets are impossibly complex, but because we're fighting our own faulty memories. Every panic feels unprecedented. Every recovery seems suspicious. Yet history shows that what we experience as shocking and new has happened dozens of times before - we've simply forgotten. Understanding this memory gap isn't just intellectually interesting; it's the difference between joining the elite few who consistently profit and the masses who perpetually buy high and sell low. "This time it's different." These four words have cost investors more money than any market crash or recession. After every crisis, we convince ourselves that the rules have fundamentally changed - that we've entered a "new normal" of permanently diminished expectations. In 2009, experts proclaimed that economic growth would never return to previous levels, that markets faced a decade of stagnation, that the financial system had irreversibly broken. Sound familiar? Identical predictions emerged in 2003, 1987, 1978, and even 1939. Each time, investors who believed these warnings missed extraordinary recoveries. From March 2009 through 2010, world stocks surged 93.3% while doomsayers insisted the rally was false. Those who acted on "new normal" fears watched from the sidelines as corporate profits soared and GDP returned to all-time highs. The pattern is maddeningly consistent: we're essentially "chittering chimpanzees with no memories," forgetting that human nature evolves slowly while market patterns repeat quickly. Markets price in widely known fears, leaving only the unexpected to move prices significantly. By the time everyone agrees the sky is falling, it's usually time to buy an umbrella company.
Understanding Economic Recovery and Employment Cycles
The Reality of Market Returns and Volatility
Volatility, Risk, and the Price of Returns
Debt, Deficits, and Investment Categories
Political Cycles and Global Market Patterns
Remembering What Markets Never Forget
빠른 요약 모드 - Markets Never Forget (But People Do) 요약을 10분 만에 읽거나 듣기
Markets Never Forget (But People Do)의 핵심 아이디어를 이해하기 쉬운 포인트로 분해하여 혁신적인 팀이 어떻게 창조하고, 협력하고, 성장하는지 이해합니다.
플래시 카드 모드 - Markets Never Forget (But People Do)에서 엄선한 8가지 핵심 인사이트
Markets Never Forget (But People Do)을 빠른 기억 단서로 압축하여 솔직함, 팀워크, 창의적 회복력의 핵심 원칙을 강조합니다.
재미있게 모드 - Markets Never Forget (But People Do)의 교훈을 27분 스토리로
생생한 스토리텔링을 통해 Markets Never Forget (But People Do)을 경험하고, 혁신 교훈을 기억에 남고 적용할 수 있는 순간으로 바꿉니다.
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무엇이든 물어보고, 목소리를 선택하고, 진정으로 공감되는 인사이트를 함께 만들어보세요.
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샌프란시스코에서 컬럼비아 대학교 동문들이 만들었습니다
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
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