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Millennial Money: How Young Investors Can Build a Fortune Hardcover – October 14, 2014

ISBN-13: 978-1137279255 ISBN-10: 1137279257

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Product Details

  • Hardcover: 224 pages
  • Publisher: Palgrave Macmillan Trade (October 14, 2014)
  • Language: English
  • ISBN-10: 1137279257
  • ISBN-13: 978-1137279255
  • Product Dimensions: 6.5 x 0.8 x 9.5 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (42 customer reviews)
  • Amazon Best Sellers Rank: #15,945 in Books (See Top 100 in Books)

Editorial Reviews

Review

"O’Shaughnessy, portfolio manager and contributor to financial media, aims to explore every facet of investment opportunities for Millenials. He offers his investment strategy for outperforming the market, based on five key attributes that, implemented together, become powerful."—Booklist

"O’Shaughnessy provides sound advice that will give millennials the advantages they need to improve their financial future." —Publishers Weekly

" Patrick has done something very unique: he's written a highly readable book that speaks up—not down—to young investors, while keeping things sophisticated enough so that even veteran investors will find indispensable insights within."—Joshua M. Brown, author of Clash of the Financial Pundits and on-air contributor to CNBC

"If someone had given me this book when I was in my 20s, I’d be a billionaire today. Buy this book for someone you love who is in their 20s. They will think kindly of you when they are in their 60s."—Barry L. Ritholtz, Chief Investment Officer, Ritholtz Wealth Management

"Patrick has got it right. The sooner you start investing, the more you make. Patrick’s recommendation to invest broadly in international stocks is also spot on for young investors. This book is a must read for anyone from their 20’s to 40’s."—Tim McCarthy, Former President, Charles Schwab and author of The Safe Investor

"Most young investors I know have abandoned stocks, and that's a big mistake. O’Shaughnessy lays out a clear path for building wealth over a lifetime with a key message: start now, invest globally, and master your own behavior."—Meb Faber, CIO, Cambria Investment Management, and author of The Ivy Portfolio

" Patrick O'Shaughnessy has written an accessible, thought-provoking guide to helping Millennials make the right financial decisions." —Kevin Roose, Bestselling author of Young Money

"Patrick’s book is a must read for my generation, and anyone who cares about building a more secure life for themselves and their loved ones. His message is clear: the time to act is now and the future is ours to take!" —Bryce Dallas Howard, Actress

About the Author

Patrick O’Shaughnessy is a portfolio manager at O’Shaughnessy Asset Management where he manages money for individuals and institutions. He is a contributing author to What Works on Wall Street (Fourth Edition) by James O’Shaughnessy and has been featured in Fortune, The Wall Street Journal’s ‘Market Watch,’ The Street.com, and Advisor Perspectives , where he has won the Top 25 Venerated Voices™ award by author. Patrick is an expert in investment strategy research and is also a Chartered Financial Analyst®. He lives in New York City with his wife and son.


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Customer Reviews

This book is a good starting point for novice investors, and it offers sound advice.
ladyfingers
One of the best parts about this book is that the author gives you plenty of data to support the strategies he has outlined.
michael batnick
I wanted to love this book, and to recommend that everyone I know get a copy for their teens and young adult children.
Debra Brinkman

Most Helpful Customer Reviews

8 of 11 people found the following review helpful By Maria Poole VINE VOICE on September 12, 2014
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
The author makes an excellent point about starting to invest as early as possible. He gives very specific guidelines about which stocks to select. It is a starting place to get in the game. I have been investing for awhile but I found this book to be informative. There is always something to learn about the topic of investing and the earlier you get started the better. Learning is a lifelong process so I recommend this book for the older generation as well.
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7 of 10 people found the following review helpful By Sukru Tikves VINE VOICE on October 13, 2014
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
In this book, the author discusses the advantages on long term (buy and hold) investment of stocks, over all other options. He makes a very good case for it, and goes into detail to support his claims with historical data. However, he also makes it sound too easy, while this kind of investment requires care and patience.

First of all, I am not an investor, so don't take my review for financial advice.

The proposal is very simple. No other investment type offers protection against inflation losses on the longer run. This is not a future prediction, but an analysis of the last 100 years or so of data. The author finds that if you are patient (like 20 years patient), you'll get positive inflation (and possibly tax) adjusted returns, even if you invest just before a financial crash (including recessions, and the great depression). Bonds and CDs on the other hand will make you lose money against inflation.

The author suggests going all in, and investing in value stocks. However this is probably a full time job, which requires analyzing a significant amount of company financial data. He offers some web based tools and communities for help, or tells that the index funds will be an easier alternative (but with much lower returns).

Do not get me wrong, there is hard data, and a lot of psychological discussion in the book (the case about pigeons being better predictor than humans is for example very enlightening). However the task is not easy. You'll have to be patient even if you are losing money. Even if you're losing a lot (e.g.: more than 50% of your investments), and even if you lose for a long time (3-5 years). I'll take the advice, but I'm not sure being a full time investor would be a good choice for everyone.

Nevertheless I liked the idea that somebody actually looked at historic charts to encourage the millennial generation who are afraid of stocks. Well done.
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1 of 1 people found the following review helpful By Tobias Carlisle on November 24, 2014
Format: Hardcover
Millennial Money is an exceptional work. The easy-to-read writing style and engaging stories hide the research-intensive process that forms its backbone. O'Shaughnessy outlines the bleak investment reality that confronts millennials. They will be unable to rely on pensions or Social Security, and will need to take responsibility for their own retirement. The problem is that they have been scarred by a stock market that has crashed twice, and gone nowhere on a real basis over the course of their lives. O'Shaughnessy's solution is their only option: Save, invest in undervalued stocks in a global universe, and do so in a tax-effective manner. While it is crucial that millennials read and understand the implications of the book, investors other than millennials should read it too. I will give it to my kids when they are old enough.
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9 of 13 people found the following review helpful By ladyfingers TOP 1000 REVIEWERVINE VOICE on September 12, 2014
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
Any investor will appreciate reading this book, but millennials in particular may find it's a real wake up call. Patrick O'Shaughnessy does a good job explaining why it is imperative young twenty-somethings start stock-picking early. The book is written in plain language and the author's message is clear--the only way to get ahead in our current fiat system (currency not backed by a physical commodity, like gold) is to hold investments that outpace inflation. The first few chapters offer a brief history of money and where we're at today (looming debt). Political and demographic trends are beyond anyone's control, but responsible and early investing can help ensure long-term wealth.

I found the author's strategies similar to contrarian investing. He centers on starting early, going global, investing in portfolios that are different from current markets and probably the hardest to achieve, developing a long-term mindset. Mr. O'Shaughnessy expands upon these topics and also explains in detail how to pick a winning stock. Briefly, that entails looking for companies that are shareholder friendly, earn strong returns on their investments, have strong cash flows, are cheap to own and have improving market expectations.

This book is a good starting point for novice investors, and it offers sound advice. An easy way to find out if Millennial Money would be a good read for you is to visit the author's blog called Millennial Invest. I enjoyed the author's analogies and stories that helped give investing better perspective, and the reading list that was thoughtfully included. As Mr. O'Shaughnessy points out, "to understand the market, there is no substitute for reading." How true those words are.
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7 of 10 people found the following review helpful By tabby on September 17, 2014
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
Interesting read on investing, not only for the millennial though being young does have its advantages - as quite clearly mentioned in the book. It is the power of compounding. With compounding and consistent investment, the returns will be exponential.

The author, Patrick, is barely 30 and is very knowledgeable about the markets - not only in stocks, but in the global arena as well as ETFs (exchange-traded funds), due to his experience in work as a portfolio manager.

He also explains about how to go about investing with mini-checklists.

However, as I am still a greenhorn at investment, there are some funds, indexes and others that he mentioned that I am unfamiliar with and am not able to fully understand how it works and how to make the investments except through a financial adviser.

In my opinion, I think having paid advice may be a good thing after all since I have also committed the buy high, sell low when my emotions took over. Needless to say, I wished I had read a book like that or financial books earlier that would have given me a head-start.

In any case, I will have to re-look at the way I am trying to save, and start investing before I run out of time!
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