John Kenneth Galbraith on Remembering Experience… Learning from Legends

Noted economist John Kenneth Galbraith once said, “Past experience, to the extent it is part of memory at all, is dismissed as the primitive refuge of those who do not have the insight to appreciate the incredible wonders of the present.”

It’s a reminder of the foolishness of ignoring the past; that while some of the facts may be different, the overall outcome never changes. For investors, it’s important to realize that we may have low volatility now, but at some point, we won’t. We have had great returns, but they won’t last forever. At some point we will have losses.

This time isn’t different, so we must stay prepared.

If you haven’t recently reviewed your invest plan you should contact your CERTIFIED FINANCIAL PLANNER™ Practitioner.