History List Message Replacement Policy is a new feature in Strategy 9. It can be found under Strategy Intelligence Server Configuration as seen below:

This Replacement Policy defines the conditions under which the Strategy Intelligence Server automatically deletes the specified number of messages.The Replacement Policy depends on the following settings:
Number of messages deleted to reclaim History List space:
When the History List is full and another message is added, Intelligence Server automatically deletes the specified number of messages, beginning with the oldest messages.
If this number is set to zero, new messages are not added to the History List until messages are manually removed.
Delete error messages first: If this check box is selected, error messages are deleted (oldest first) before regular History List messages.
Delete oldest messages by: This drop-down list controls what timestamp Intelligence Server uses to determine which History List messages are the oldest. Users can select from:
a. Creation time: The time at which the message was created.
b. Finish time: The time at which the report finished executing.
c. Modification time: The time at which the message was last modified.
d. Start time: The time at which the report started executing.