Fund managers and financial advisors need to be sent back to school to study economic and market history, according to a new report by the Chartered Financial Analyst society in the UK. Furthermore, Financial Amnesia, as they call it, shown by institutional investors and a failure to understand the past are key factors behind recent global financial crisis. Practical history lessons for financial workers, as well as an annual amnesia check are two reforms being suggested by the CFA. Do fund managers and financial advisors, who make up the core of these financial institutions, need to learn more about history or is every day a lesson of it’s own? Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins CNBC World Exchange to examine if the lack of historical education with financial managers or financial advisors is to blame for the recent financial crisis worldwide.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.