The First Stock Market Wasn’t Dutch. It Was in Medieval France.

Few people have shaped the way we think about long-term investing and finance like Laurence Siegel. From his early collaboration with Roger Ibbotson on the landmark "Stocks, Bonds, Bills, and Inflation" study to leading investment research at the Ford Foundation and the CFA Institute Research Foundation, Larry has spent decades connecting financial history, data, and practical insight into how markets truly work.

In this wide-ranging conversation, we explore what centuries of economic and stock market history can teach us about the future, how seemingly obscure ideas like tontines and medieval water mills reveal deep investing truths, and why indexing, once a fringe idea, changed everything from the NYSE to global financial education.

🎯 Here's what we cover:

🏛️ Discovering 14th-century share trading in a Toulouse watermill, an early example of stock market investing

📉 The real lessons foundations and endowments learn about risk and profit

📘 What most investors miss about the early days of index funds and quantitative analysis

🧠 How to build a true long-term mindset in a short-term world dominated by CNBC headlines and stock market news

🧭 Why economic history is still the best forecasting tool we have, from forex markets to interbank lending dynamics

If you’re into deep market wisdom, financial education, and no-nonsense investment thinking, this one’s for you.

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Enjoy the episode!

Disclaimer: This podcast is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Always consult a qualified financial professional before making financial decisions.