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


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Millennial Money: How Young Investors Can Build a Fortune + The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) (Collins Business Essentials) + The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns
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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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Product Details

  • Hardcover: 224 pages
  • Publisher: Palgrave Macmillan Trade (October 14, 2014)
  • Language: English
  • ISBN-10: 1137279257
  • ISBN-13: 978-1137279255
  • Product Dimensions: 1 x 6.5 x 9.8 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (49 customer reviews)
  • Amazon Best Sellers Rank: #23,515 in Books (See Top 100 in Books)

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Customer Reviews

This book is a good starting point for novice investors, and it offers sound advice.
ladyfingers
Patrick does a great job striking the balance between making the book an easy read while writing at a very high level.
Matthew O'Brien
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

5 of 6 people found the following review helpful By John C Woods on October 27, 2014
Format: Hardcover Verified Purchase
I remember when I first read the Intelligent Investor and the way that Ben Graham came out with some very simple portfolio level recommendations, such as beginning with a portion of your funds in bonds and some in stocks. In fact, he went further to recommend a 50/50 split. But as you continued to read the book, what unfolded before you was not a simpleton but a brilliant intellect unpacking example after example for you. Anyone who would have written off his initial generalizations simply because they were too simple, would have greatly underestimated the reasoning that went into reaching those conclusions and the stability of his intellectual foundations.

I have the same feeling about this book. In this book he proposes broad portfolio policies. But I think anyone who ignores them will be much less wealthy in the long run. This book is one of my favorites. I highly recommend it.
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9 of 12 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 Drew Doggett on December 14, 2014
Format: Hardcover
Without a background in finance or the stock market myself, I thought Patrick did a phenomenal job of breaking down the keys to building wealth in an easy to follow blend of financial data and engaging storytelling. He contextualizes the reasons our generation views investing as it does, and details the ingredients necessary for setting yourself up for financial security and early retirement. I found Millennial Money to be incredibly insightful and wish I had read this book years ago. A must read- 5 stars.
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1 of 1 people found the following review helpful By Matthew O'Brien on December 5, 2014
Format: Hardcover Verified Purchase
This book is a must read for any millennial or any financial advisor. Patrick does a great job striking the balance between making the book an easy read while writing at a very high level. Highly recommended for those in the financial services industry or those just looking to save for financial independence. I was extremely motivated to save more and invest smarter after the read. Any young person that you buy this book for will thank you in thirty years!
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1 of 1 people found the following review helpful By TimAtl on October 30, 2014
Format: Kindle Edition Verified Purchase
Great insight for the Millennial generation about the importance of investing from an early age: Social Security can't provide them the purchasing power it does today, therefore they must invest early and often. Makes clear that the stock market is the safest long term investment. I'm buying it for my three Millennials.
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1 of 1 people found the following review helpful By Derrick Blyberg on December 6, 2014
Format: Kindle Edition Verified Purchase
I am recommending Patrick's book to everyone I know. He breaks his strategy down and makes it so easy a caveman could do it. I read Cramer's book before this and I couldn't tell you one thing about it. Patrick knocked it out of the park for our age group and I couldn't be more grateful.
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Format: Hardcover Vine Customer Review of Free Product ( What's this? )
Author Patrick O'Shaughnessy understands that there are strong and very real financial and psychological challenges which make millennials flinch when they consider investing in equities: job scarcity, student loan debt, and of course those awful memories of the 2007-2008 financial crisis. Many are still running for cover, keeping their savings in cash or low return, conservative - and seemingly safe - bonds.

But O'Shaughnessy stresses the dangers in those reactions. While this behavior may feel comfortable, secure, and reassuring - it actually "acts like a tax " on wealth, leading to significantly greater financial risks over time, with inflation and factors such as the lack of pensions and social security very likely to erode savings. He makes a strong case for confronting fears and investing in stocks which - IF they are the right stocks and meet his very specific criteria - can lead to greater financial security (he favors global investments). And he underlines the importance of setting the course as early as possible, ideally when investors are in their 20s and 30s, so they can take full advantage of time and the power of compounding.

I read investment and financial management books regularly and....yes...some of what is included here repeats the basics covered in other books. But there is a significant amount of new information as well. O'Shaughnessy has very clear guidelines for the companies which meet his requirements and lays out a set of basic principles and rules for his "Millennial Money Strategy" : go global, think differently, and get out of your own way. These guidelines are followed by an investor checklist and ranking approach for analyzing stocks.
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