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WEALTHIER

THE INVESTING FIELD GUIDE FOR MILLENNIALS

A clear and sensible guidebook to investing.

Awards & Accolades

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Solin presents a concise and comprehensive guide to do-it-yourself investing.

The author astutely observes that while millennials generally want to retire relatively early, they often adopt strategies inconsistent with that goal. Afraid of volatility, they avoid the stock market and embrace far riskier alternative options like cryptocurrency investments. The good news, per Solin, is that most of them would be served by a simple, DIY approach to investment that doesn’t rely upon costly and often exploitative financial planners. In short, the author recommends buying two exchange-traded funds, one populated by stocks and another by bonds; the former is an engine of growth while the latter is a bastion of security. In language accessible to even the most inexperienced investor, Solin provides a thorough elaboration of this strategy, covering a wide array of topics including retirement planning, the dangers of nonfungible tokens, and the distraction of “lottery-like returns.” He convincingly argues that financial media is profoundly unreliable and that professional investors are often deeply incentivized to betray the interests of their clients. Unfortunately, Solin follows the business-book trend of gratuitously and shallowly citing the findings of contemporary neuroscience and furnishes this counsel regarding the tyranny of the amygdala: “Engage logical thinking. The amygdala hijack overrides rational thought, so it’s essential to engage your analytical mind consciously. Remind yourself of the facts and consider the situation more objectively.” Despite this tedious detour, the book does offer an abundance of “sound, no-nonsense wisdom.” Solin is entirely right in asserting that the average investor simply does not need a surfeit of professional financial guidance, and that his simple strategies are likely appropriate for most.

A clear and sensible guidebook to investing.

Pub Date: May 15, 2024

ISBN: N/A

Page Count: 302

Publisher: Silvercloud Publishing, LLC

Review Posted Online: May 3, 2024

Kirkus Reviews Issue: June 15, 2024

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THE CULTURE MAP

BREAKING THROUGH THE INVISIBLE BOUNDARIES OF GLOBAL BUSINESS

These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.

A helpful guide to working effectively with people from other cultures.

“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.

These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.

Pub Date: May 27, 2014

ISBN: 978-1-61039-250-1

Page Count: 288

Publisher: PublicAffairs

Review Posted Online: April 15, 2014

Kirkus Reviews Issue: May 1, 2014

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GOOD ECONOMICS FOR HARD TIMES

Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.

It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.

Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.

Pub Date: Nov. 12, 2019

ISBN: 978-1-61039-950-0

Page Count: 432

Publisher: PublicAffairs

Review Posted Online: Aug. 28, 2019

Kirkus Reviews Issue: Sept. 15, 2019

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