The Rational Reminder Podcast

Episode 378: Learning from Market History

61 snips
Oct 9, 2025
Mark Higgins, a financial historian and author, shares insights on the significance of studying U.S. financial history. He discusses Alexander Hamilton's pivotal role in shaping the nation's credit system and the implications of government debt. Mark warns about the risks of unregulated banking and draws parallels between past market crises and today’s trends, including crypto and meme stocks. He highlights timeless investing lessons and the rise of alternative assets while offering practical advice on navigating the current financial landscape.
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INSIGHT

History Repeats In Markets

  • Mark Higgins argues almost nothing in financial markets is truly unprecedented once you study history.
  • He used historical parallels to calm clients during COVID and to forecast likely outcomes.
INSIGHT

Credit As An Engine Of Growth

  • Higgins credits the U.S. financial system for allocating capital to people without resources but good ideas.
  • He says credit was an invigorating principle behind U.S. growth since Hamilton's reforms.
INSIGHT

Hamilton's Financial Legacy

  • Mark Higgins highlights Alexander Hamilton as pivotal for creating U.S. fiscal credibility and a central bank.
  • He argues Hamilton's actions were essential for the nation's survival and future stability.
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