Episode 28: How Not to Lose a Fortune, Lessons from the Great Depression Era Fortunes, Tales of Heirs and Heiresses
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Nicki has an extensive experience in media, a degree in radio-television-film, and a passion for history. For four years, she worked on multiple History Channel documentaries and was a research consultant for USA's Mr. Robot.
In her history podcast As The Money Burns, Nicki reconstructs the Great Depression through the lives of actual heirs and heiresses.
She brings back to life the tales of the rich living through the Great Depression. She sets the stage by telling us about the summer before the 1929 crash. We learn about a number of young heirs and heiresses and the lives they live.
There was so much that changed at the time, the newspapers started to follow the stories of the wealthy, and they were losing their anonymity. Taxation was on the rise, so were fraud, Ponzi schemes, and more. We hear about bank runs and how no matter how rich ones are, it's not hard, and maybe extremely easy, to lose it all.
The stories we hear are almost a hundred years old, they are as relevant today as they were then.
Only this week, I took a call from someone who's been reading my articles. His family tale is set between two continents and resembles so many of the stories we'll hear today talking with Nicki.
Someone once reminded me that it's not easy, but it's cheaper to learn from the mistakes of others.
Let's go back to the Roaring 20s and the Great Depression Era with my guest - Nicki Woodard.
TW / IG – @asthemoneyburns
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IMPORTANT: As a reminder, the remarks in this interview represent the views, opinions, and experiences of the participants and are based upon information they believe to be reliable; however, neither my firm nor I have independently verified all such remarks. The content of this podcast is for general, informational purposes, and so are the opinions of a member of a registered investment adviser and guests of the show. This podcast does not constitute a recommendation to buy or sell any specific security or financial instruments or provide investment advice or service. Past performance is not indicative of future results.