Millennial money : how young investors can build a fortune

Millennial money How young investors can build a fortune

Patrick O'Shaughnessy

Book - 2014

"Fact: the Millennial Generation will not be able to rely on pensions and social security in retirement. Instead, they will have to save and invest in the global stock market to meet their goals. When it comes to thinking about money, Millennials are, as a generation, different from their parents. They are skeptical of expert advice, yet more committed than baby boomers to passing wealth on to future generations. To build wealth, young people must start investing early and buck conventional market wisdom. Millennial Money will explain the most common mistakes that hurt investors' long-term returns and show why their investments in popular stocks or the hottest industry of the day have resulted in such underwhelming results. More i...mportantly, the book will introduce a strategy that can help us overcome our shortcomings as investors. Armed with this strategy, Millennials can become the most successful investing generation in history"--

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Subjects
Finance, Personal.
Investments.
Securities.
Published
New York : Palgrave Macmillan 2014.
Language
English
Main Author
Patrick O'Shaughnessy (-)
Physical Description
xii, 212 pages
Bibliography
Includes bibliographical references (pages [197]-207) and index.
ISBN
9781137279255
  • Acknowledgments
  • Disclaimer
  • Introduction
  • 1. The Millennial Edge
  • 2. Building Good Financial Karma
  • 3. Investing Principles
  • 4. Go Global
  • 5. Be Different
  • 6. The Millennial Money Strategy
  • 7. Get Out of Your Own Way
  • 8. The Long Game
  • 9. The Push and the Pull
  • 10. Opportunity Knocks
  • Notes
  • Index
Review by Booklist Review

O'Shaughnessy, portfolio manager and contributor to financial media, aims to explore every facet of investment opportunities for millennials, whom he defines as those born between 1980 and 2000. With youth, these investors have time on their side. O'Shaughnessy presents three investor tendencies to avoid: ignoring great international companies in favor of investing locally, building a unique portfolio rather than earning a return that matches but never exceeds the entire market, and financial discipline by making an investment plan automatic. His challenge: go global, be different, and get out of your own way. He offers his investment strategy for outperforming the market, based on five key attributes that, implemented together, become powerful. They consist of identifying companies that have beneficial shareholder practices (pay dividends, pay down debt, etc.), get good returns on their own investments, have strong cash flows, are attractively priced (cheap), and whose market expectations are improving. Only by investing in stocks can you build a fortune, O'Shaughnessy tells us.--Whaley, Mary Copyright 2014 Booklist

From Booklist, Copyright (c) American Library Association. Used with permission.
Review by Publisher's Weekly Review

Portfolio manager O'Shaughnessy looks at the unique opportunities available to the millennial generation-those born between 1980 and 2000. First, he strongly advocates that millennials invest as high a percentage of their income as possible "in the global stock market rather than 'low-risk' alternatives like cash or bonds." According to the author, investing in equities enables investors to share in "business growth around the world." Viewing investment as a form of financial protection from future risks, he argues that to do it successfully, you must often make counterintuitive decisions. He identifies three common mistakes investors make: favoring their native country's companies; settling for a market-matching return; and letting emotions cloud judgment. He also offers strategies that can serve as an investing framework and examines the power of delayed gratification, risk, and what it takes to gain an edge. O'Shaughnessy provides sound advice that will give millennials the advantages they need to improve their financial future. Agent: Wesley W. Neff, Leigh Bureau. (Oct.) (c) Copyright PWxyz, LLC. All rights reserved.

(c) Copyright PWxyz, LLC. All rights reserved

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