Looking for some summer reading? Dave Troy at Troy Wealth Management highly recommends reading “This Time is Different: Eight Centuries of Financial Folly” by Carmen Reinhardt and Kenneth Rogoff.
“This Time Is Different” details eight-hundred years of financial crises from medieval currency collapses, Dutch tulip mania through to the subprime mortgage disaster. In every case, experts claimed, “this time is different” and that thanks to technological innovations the old rules of finance and valuation allegedly no longer apply. Definitely worth reading in the era of Bitcoin, Ethereum, crypto-currencies, and AI-generated financial advice.