What can history teach us about investing? Is there a right way? Russell Napier—financial historian, author of The Anatomy of the Bear, and founder of the Library of Mistakes—shares what centuries of market behavior reveal about asset allocation, financial repression, and why even the smartest investors get it wrong. 📈 Here’s my free investing course if you don’t fancy reading all the books https://makingmoney.email/investing-course-video 🤝 Improve your finances with our adviser service - book free consultation: https://makingmoney.email/financial-advisors-video 🎉Sponsors Vanta - Get your company secure and compliant, with $1k off: https://vanta.com/makingmoney Tide - Get up to 4.22% AER (variable) on your business savings. Use this link https://www.tide.co/offers/makingmoney or the code 'MAKINGMONEY'. You'll also get £100 if you fund your account with £5,000 in the first 30 days. Ts&Cs apply. The more you save, the higher the rate—up to 4.22% AER (variable) on balances over £1M. New Tide members receive these rates free for 6 months, then your Tide plan’s savings rate and thresholds apply. Visit https://tide.co/savings for full terms and conditions. - If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk. This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00 – The Big Mistake in Finance 05:35 – How Human Behaviour Drives Markets 10:42 – The Real Returns of the Stock Market 13:44 – Who Should You Trust for Financial Advice? 17:48 – Tide Ad 18:46 – What Makes Someone a Financial Expert? 21:35 – The Impact of Passive Investing on the Market 24:03 – The Government Wants To Tell You Where To Invest 30:40 – What If Financial Repression Returns? 30:04 – Vanta Ad 30:59 – Lessons from History on Financial Repression 35:13 – Why Timing the Top Is a Fool’s Game 40:39 – What Really Drives Inflation? 44:19 – Was Targeting 2% Inflation a Mistake? 50:50 – 5 Ways to Lower the Debt-to-GDP Ratio 57:56 – What’s Next for the UK Economy? 01:01:06 – Are We Entering a Bear Market? 01:05:41 – Top Picks from the Library of Mistakes 01:07:42 – Where Should Beginners Start?