Posts Tagged ‘books’

Being a Billionaire’s Daughter

Thursday, June 2nd, 2011


(© Andrew H. Walker/Getty Images)

If you’ve ever wondered what it’s like to be a kid with a horse and a dream and a billion dollar inheritance, now’s your chance to find out. Georgina Bloomberg, the 28-year-old daughter of the mayor of New York City, has just published a young adult book that is technically a work of fiction, but clearly based on her life in the inner circle of Manhattan heiresses.

While it’s not fair to read too far into Georgina’s life based on her book, there are some interesting themes – mostly around the unwanted fame that comes with wealth and good old arguments with dad. What do you do when your father’s fortune allows you to excel at an expensive sport – horse riding – but his business sensibility dismisses it as a career because it doesn’t pay?

It’s kind of nice to see that the tension between parents who want the best for their children and the children who want to follow their bliss is pretty much universal. No matter what your net worth.

Still trying to find your bliss? Watch our interviews with Pretty Young Professional or Ron from CareerCore to get started!

Investment Advice From A Banker’s Deathbed

Wednesday, December 1st, 2010

Some people would shatter under the weight of Gordon Murray’s diagnosis. But he channeled his remaining energy into creating a legacy.

  • In 2008, former Wall Street bond salesman Gordon Murray was diagnosed with brain cancer. Five months ago he decided to end his treatment and write “The Investment Answer.”
  • After 25-years of high-level jobs on Wall Street, Mr. Murray says he suddenly realized that everything he knew about investing was wrong. Actively managing (tinkering with) investment portfolios, he says, is useless at best, and harmful at worst.
  • Even as an experienced financial player, Murray found he didn’t actually know much about asset allocation. He learned the ropes in firms like Goldman Sachs and Lehman Brothers, which valued risk and bravado over safety and simplicity. His book, full of simple investment advice, is aimed at investors who are in the same position he was.

Facts & Figures

The five choices Murray says every investor needs to make:

  • Only work with financial advisors who earn commission from you – not mutual funds or insurance companies
  • Diversify! Keep your money allocated between stocks and bonds, big and small, and value and growth
  • Make sure to include foreign investments to guard against economic disasters in the U.S.
  • Be skeptical of actively-managed funds… even experienced fund managers can’t predict the future of the market
  • Rebalance – sell your winners, buy more losers. It’s painful, but improves your returns in the long run

Best Quote

“It’s American to think that if you’re smart or work hard, then you can beat the markets.” – Gordon Murray

‘The Official Preppy Handbook’ Updated For Today’s Prep

Monday, August 30th, 2010

“True Prep” is a lifestyle guide updated for the modern prepster.

  • The author of 1980′s shockingly successful “The Official Preppy Handbook” has just published a new edition for the next generation: “True Prep: It’s a Whole New Old World.”
  • This new take on the original talks issues like divorce, second marriages, and dealing with the fallout from youthful partying.
  • Lisa Birnbach, author of both editions, is not-quite-ironic in her assessment of what is and isn’t preppy. There’s a preppy hall of fame (starring Stephen Colbert, oddly), an assessment of the preppiest schools, and, apparently, a serious devotion to preppy shopping.

Facts & Figures

  • When it came out in 1980, “The Official Preppy Handbook” was on the New York Times bestseller list for over a year
  • Today the original edition can sell for $100 or even $1,000

Best Quote

“Every single one of us — no matter the age or the gender or sexual preference — owns a blue blazer.” – True Prep: It’s a Whole New Old World