Investing in U.S. Financial History: Understanding the Past to Forecast the Future

Few finance books will remain relevant for years after they have been published. Investing in US Financial History will certainly be included in this list.It shocks me that, prior to Mark Higgins, no one had ever truly put pen to paper and walked through the entire financial history of the US dating back to Alexander Hamilton. Many of the stories written hold relevance and echo themes of today, although many are long forgotten to even advanced practitioners. The research conducted to put this together is incredibly thorough and provides a wealth of knowledge for today's investors.One important lesson that the book leaves you with is the understanding that many financial events or concerns echo multiple periods in history. By providing a one-stop book to learn about all of those major events plus documentation for further reading, the reader walks away with a greater understanding of the world they live in and how it came to be.I will certainly be reading this book multiple times. If there are ever future editions, I'll absolutely add them to my shelf, especially considering all the underlining I ended up doing in the current version. This book is simply invaluable!

This is one of the best books ever written in finance and investing. The highly credentialed author (CFA, CFP) traces US financial history from the early days of George Washington and Alexander Hamilton in establishing the financial system to current day. Not surprisingly, there are patterns in history that repeat. That’s why the establishment of a central bank, the Fed, is so important. Alexander Hamilton was right. His insights in 1790 were dead on, including the prediction that the US would surpass Great Britain to become the world’s leading economy. The book is well researched, easy to read, very clear, and has actionable insights that can improve your ability as an astute investor. Highly recommend. Enjoy!

Often in life we lose sight of the bigger picture and the connections between the present, the past, and ultimately the future. We get scared and lose hope.This truly unique and monumental book not only provides facts and historical context but it is written in a manner that engages the reader and keeps them wanting more!!!As a nonprofessional I was surprisingly mesmerized reading about whaling, or the financial dealings behind the building of the railroads, not to mention the back stories of the criminals, con men, crooks and thieves! It was a relief to see the heroes who did the right things and my love of Hetty Green will be never ending. She deserves a movie!The relevance to today’s issues stand out especially COVID, and the policies of the Fed.This is a must read. It will educate you in the best ways to maximize your own financial well-being. It will give you hope and comfort in these days of seemingly endless strife and turmoil.

Mark Higgins’s excellent book on this topic was long overdue. Only weird thing is that nobody managed to beat him to the punch of making a book where finance is the key thread of American history — rather than just a series of footnotes.Mark Twain (supposedly) once said: “History doesn’t repeat itself — but it rhymes.” This book is an excellent resource for financial professionals and laypeople alike. Appreciating past events, and recognizing familiar patterns, enables readers to stay cool (& therefore solvent) in times of boom and bust.

I cannot imagine a better book for understanding finance in a historical context. It is ambitious and thorough and satisfying. The content is astonishingly interesting, and the storytelling format makes it a delight to read. Even the thoughtful, chunked-down organization and graphical imagery are lively and human-scale. The author manages to make this material at once accessible without dumbing it down, and easy-to-read without oversimplifying.While I read the book cover-to-cover, beginning to end, I can also imagine it proving a useful piece-by-piece reference book I’ll revisit time and again. Very happy to have read this and to be able to read it again. I couldn't recommend the book more highly.

Mark does a great job of walking you through history of our financial system and its many intricacies. The best part is that it is done in a very approachable way and if you want to get very granular he has all the sources there for you. This has become my favorite book to read this year.I haven’t finished it yet but I have been enjoying my mornings being transported into different eras and feeling like I am there witnessing it. Excellent storytelling and again very educational. This is on par with Niall Ferguson’s “The Ascent of Money”.

I bought this book after listening to the podcasts with the author. Whole he clearly did a tremendous amount of research and put a lot of factual information in the book he failed to make a connection between the events in the US and the rest of the world. The author is also going out of his way to be pc and using today's morals to describe the events 150 years ago. It is OK as an encyclopedia but not really thought provoking.

Mark's book is fascinating, interesting and filled with crazy stories about real life consequences resulting from human decisions about money! This book is deserving of book clubs and shelves...do not make the mistake of thinking this is aimed at the financial professionals - this book will help the average person understand the broader macro-economic trends that shaped our past and influence our future. A page -turner about financial history (that's crazy, but true)!

This book provides great insight into the historic evolution of the US financial system. It is full of very interesting information, and for a historic account, easy to read! It is a staple for any financial library.

Although the title of the book alludes to the evolution of investing as an activity throughout US Financial History, I feel that the time spent reading this book is also an investment that unlocks a deeper understanding and appreciation for the financial markets.Starting from the birth of the country and the financial system till the COVID-19 pandemic and it’s effects on the economy, the book crisply flows through the various eras that defined the country. It is an unbiased retelling of the various manias, the after effects and the reforms that followed, expressed through the eyes and context of that time-period. The author manages to express the prevailing sentiments of that time through the use of quotes and anecdotes from that period, thereby managing to avoid the slightly patronising tone that hindsight sometimes creates.While the clever quotes and point of interest boxes keep you entertained throughout, the extensive notes section that provides the sources for all the information in the book ensures that this book is worth revisiting many times.I urge every one who is interested in creating a successful career in finance or financial services to grab a copy of this book and read it from cover to cover because as the saying goes - ‘Those who do not learn history are bound to repeat it.’

A very informative book about the history of capital in our capitalistic past. It reveals how economics and politics have both advanced and corrupted each other in the past 250 years of America. It shows how fragile our system really is, and how luck has sometimes been responsible for the continuation of our republic. This reader is not so sure how much longer our luck will last. But, I hope the optimism expressed by Mark does bear out.