Millennial Money: How Young Investors Can Build a Fortune

by Patrick O'Shaughnessy

Overview

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 importantly, 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.

Product Details

ISBN-13:	9781250338525
Publisher:	St. Martin's Publishing Group
Publication date:	10/14/2014
Pages:	224
Product dimensions:	6.00(w) x 9.00(h) x 0.52(d)

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.

Table of Contents

Acknowledgments ix

Disclaimer xi

Introduction 1

1 The Millennial Edge 11

2 Building Good Financial Karma 31

3 Investing Principles 53

4 Go Global 57

5 Be Different 69

6 The Millennial Money Strategy 91

7 Get Out of Your Own Way 125

8 The Long Game 143

9 The Push and the Pull 163

10 Opportunity Knocks 181

Notes 197

Index 208

Editorial Reviews

06/23/2014
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.)

Publishers Weekly

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

From the Publisher