10 years. It feels like yesterday. Then again, sometimes when I look at the economic data it feels like it never even happened. Whether you feel like the crisis is a distant memory or still lingering I think we can all agree that these kinds of big events serve as important lessons for understanding how we will navigate the future. So, 10 years later, here are 10 big lessons I take away from the financial crisis:
- Fear wins in the short-term and loses in the long-term. This is probably the number one lesson from the crisis. Human beings have been making tremendous progress for thousands of years. The financial markets are largely a function of irrational short-term beliefs inside of a one way upward trend of progress. So while there will be plenty of times to be scared the high probability bet is that optimism will generally beat pessimism.
Read the full article at Pragmatic Capitalism right here: https://www.pragcap.com/10-years-10-lessons-financial-crisis/