In a world where growth and revenues are almost always prioritised over risk, I think it helps to look back at history and remind ourselves of the follies of humankind. After all, history may not repeat itself, but it often rhymes.

I just finished reading 1873 by Liaquat Ahamed, about the Vienna stock market crash that eventually triggered a global financial crisis. I had read 1929 by Andrew Ross Sorkin last year, which explores a similar theme.

Both are fantastic reads, especially at a time when participation in the markets has grown so much, and optimism seems to be everywhere.

What’s fascinating is how, despite everything we know about past financial crises, human behaviour hasn’t really changed. Greed, leverage, speculation, and the belief that this time is different seem to be recurring features of every market cycle.🙂

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