The Meb Faber Show
Welcome to The Meb Faber Show, where the focus is on helping you grow and preserve your wealth. Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser. Better investing starts here.
Joseph Moore: How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn’t) | #639
My guest today is Joseph Moore, a historian and former professor who spent over a decade in the archives studying 300 years of American financial advice, which he explains in his new book, How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn’t). In today’s episode, Joseph explains what 300 years of American financial advice reveals about getting rich. He shares why real estate barely appreciated for a century, why bonds beat stocks for decades, and how modern investing advice was born chasing inflation and taxes. To close, Joseph reveals the five timeless principles that built wealth in every era.
Key Points
- Real estate did not always appreciate in value historically, but it was a way for Americans to leverage debt into a tangible asset that could hold its value over time.
- The idea that stocks always outperform bonds in the long run is a modern misconception, as historical data shows that bonds often outperformed stocks in the nineteenth century and they were tied until around World War II.
- Taking risks, moving to chase opportunities, and maintaining an optimistic outlook are crucial strategies for financial success, as they are consistently rewarded in the American economy.
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Transcript
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