The Day After Thanksgiving – A Good Time To Study History

Friday, November 27, 2009

old photoBlack Friday typically has dull markets, giving us the opportunity to sit back and think – just the environment to focus on past lessons. Looking back often provides a useful perspective.

A good historical period to read about is the Panic of 1907, if you haven’t already done so. That 100-year old event contains similarities to our recent turmoil, plus it was the impetus for the Federal Reserve’s creation.

There are good sources of information, from the 2007 book, The Panic of 1907, to many pieces available through the internet. Wikipedia contains an excellent write-up – succinct and thorough. (This is one of Wikipedia’s “Featured Articles.”)

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