Financial History Issue 121 (Spring 2017) | Page 37

rates were present during severe, multi-year
bear markets in both stocks and real estate.
When it comes to government eco-
nomic miscues, there is plenty of blame to
go around. To revisit the question of who
investors should pay the most attention
to (the President, Congress or the Federal
Reserve), the answer is all of them. 
Kenneth Winans is an investment man-
agement pioneer, award-winning author,
Forbes columnist and former trustee of
the Museum of American Finance. This
article was adapted from his latest book,
Investment Atlas 2: Using History as a
Financial Tool (2017).
www.MoAF.org  |  Spring 2017  |  FINANCIAL HISTORY  35