Amity Shlaes – The Forgotten Man

A Book with Legs

Smead Capital Management

Investing, Business, Management

4.2 • 1.1K Ratings

🗓️ 28 February 2022

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

The stock market crash of 1929 will forever be considered one of the darkest hours of the U.S. economy. Decades later, many economists are still searching for the exact reasons as to why it happened.

In this episode, Cole and Bill Smead sit down with Amity Shlaes, the author of the book The Forgotten Man: A New History of the Great Depression. Amity’s book takes a deep dive into possible causes of the Great Depression and the people who were responsible for the market’s collapse.

Transcript

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0:00.0	You're listening to A Book with Legs, a podcast presented by Smead Capital Management.
0:08.0	At Smead Capital Management, we advise investors who fear stock market failure.
0:12.9	You can learn more at Smeadcap.com or by calling your financial advisor.
0:26.6	Welcome to a book with legs podcast. I'm Cole Smead. I'm the president and a portfolio manager here at Smead Capital Management. At our firm, we are readers and book junkies. It can be said
0:33.1	that leaders are readers and we believe books provide us a great source of information for filtering
0:38.6	what is and isn't important for us as investors. Investing is the last great liberal art and the
0:45.3	best way to spend a lifetime of learning. This podcast is for readers, thinkers, business-minded
0:51.5	people, and investors who want to grow their knowledge from great authors
0:54.8	and their writing. Charlie Munger often talks about using multiple mental models and analysis.
1:01.0	Our aim is for this podcast to help listeners test Munger's theory in business, markets, and people.
1:08.1	Hosting this episode alongside me is our chairman and chief investment officer. In my life,
1:13.6	I've most commonly referred to him as dad, Bill Smead. Thanks for doing this with me. You're very
1:19.8	welcome, Cole. We're glad everyone has joined us for this episode. We're going to conversate over
1:24.9	and discuss one of the toughest and darkest hours of the American economy.
1:29.1	Amity Schlaise is joining us to talk about her book, The Forgotten Man.
1:32.9	Amity has published three other books, including her 2013 book, Coolidge, and her most recent title, The Great Society, A New History.
1:41.1	Ms. Schlaz chairs the board of the Calvin Coolidge Presidential Foundation.
1:45.8	She also chairs the Hayek Prize, a prize for free market books given by the Manhattan
1:50.6	Institute. She is also a presidential scholar at the King's College in New York.
1:55.8	Before we introduce Amity, is there anything, Bill, that you're looking forward to in our discussion?
2:01.2	Just about all of it, Cole. It's one of the books I've enjoyed the most over the last
2:06.3	10 to 15 years. I agree. It's a fantastic book. Are we ready to get rolling? We are. Awesome.
	...

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