Abstract
What does it mean to learn from history, and can it make you a better investment professional? Economic and financial history have been experiencing a revival in the aftermath of the Global Financial Crisis, and governments and central banks have been using claims and assumptions about past historical events to support and justify their policy decisions, for better or for worse. Knowledge about economic and financial history matters at a macro/ systemic level and for individual investment professionals. But do we know what we’re doing? We asked CFA Institute Financial NewsBrief readers about the importance of economic and financial history to their success as investment professionals. Of the 844 responses, an overwhelming majority (96%) answered that it was either very or somewhat important. I suspect, however, that some may not know how to use this knowledge to make better investment decisions (or, at the very least, avoid poor ones).
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