TIP673: A Short History Of Financial Euphoria w/ Kyle Grieve
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You're listening to TIP. Building long-term wealth relies on the ability to compound wealth for decades to come. It doesn't really matter if you're trying to track the index or outperform it. If you want to generate wealth rather than destroy it. you must reach the finish line while also maintaining capital along the way.
If we use inversion to look at One of the most surefire ways to prevent ourselves from crossing the finish line. I think avoiding bubbles will be near the top. Now this is why I've always been fascinated with John Kenneth Galbraith's excellent book, A Short History of Financial Euphoria. The book just focuses on a few very, very simple
Objectives. Number one. It tells you what a euphoric episode looks like in quite a bit of detail. Number two, it goes over several euphoric episodes in history using John Kenneth Galbraith's own framework.
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