

The Smead Book List - Fall 2025
13 snips Sep 29, 2025
This discussion dives into the emotional parallels between historical market manias and today’s economy. The hosts share insights on recent reads about geopolitical shifts and cultural dynamics. They explore the multifaceted impacts of inflation on labor and governments, urging a fresh look at market risks stemming from passive indexing. Historical narratives about retail trading evolution and investor psychology offer lessons on decision-making during downturns. Listeners are treated to valuable book recommendations for further exploration.
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History As A Lens For Today's Mania
- Bill Smead reads historical boom periods to understand today's market mania and investor psychology.
- He connects the late-1990s dot-com era and 1920s land bust to gauge current risks around AI and concentration.
Anointed Figures Reduce Decision Friction
- Cole highlights 'The Anointed' idea: celebrities and authorities reduce decision costs by signaling choices.
- He argues these anointed figures create efficiencies in daily decision-making, not merely leadership.
Reading Brooks To Sense 1929 Emotions
- Bill reads John Brooks to feel late-1920s emotions and attitudes around the 1929 crash.
- He uses that historical atmosphere to judge how today's mania might affect behavior and markets.