Review: 50 Prosperity Classics by Tom Butler-Bowdon

50 Prosperity Classics by Tom Butler-Bowdon50 Prosperity Classics by Tom Butler-Bowdon is an assimilation of fifty great financial classics that will help you “attract it, create it, manage it, and share it,” with “it” being prosperity. It’s part of the “50 Classics Series,” a series I’d never heard about until this edition, but it’s a clever distillation of many great works down into something shorter than Cliff Notes. For each of the fifty classics, there’s a brief salient quote, followed by a box of important facts (think: executive summary), then a few pages of commentary that reads like a book report. The book reads like a Who’s Who of important financial and business individuals from Warren Buffett to John Bogle, from Bill Gates to Guy Kawasaki, from Adam Smith to Peter Lynch. The books span the ages going as far back as 1778 with Adam Smith (the ones after that are P.T. Barnum in 1880 and Andrew Carnegie in 1889) and as recently as Suze Orman (2007).

I chose to take a look at Andrew Carnegie’s The Gospel of Wealth first, since it was the namesake and founder of my alma mater Carnegie Mellon University. How’s this for a quote to capture the message of the book:

“The man who dies rich thus dies disgraced.”

And the “In a nutshell” summery, written by the author, was:

The wealth creator has a moral obligation to enrich the lives of others in whatever way they can.

Then the author launches into three page book report of The Gospel of Wealth followed by a brief biography of Andrew Carnegie.

I’m a big fan of books where you get little stories and vignettes, something I mentioned in my review of Ken Fisher’s 100 Minds That Made The Market. This book is in that same vein, offering little stories about each author, summarizing their books into a one sentence and a “book report” that makes it easy and quick to digest. To be honest, it makes a great bathroom book if you’re into reading a lot about personal finance, wealth creation and management!

 Personal Finance 

Q&A with Bill Gates and Warren Buffet via FORTUNE

Don’t miss this article, a Q&A with $91 billion in net worth: Warren Buffett and Bill Gates: The $91 Billion Conversation. This is an interview following a Q&A the two had with 2,000 extremely lucky participants at University of Nebraska’s Lied Auditorium, the first since the two did it in 1998 at the University of Washington. I’ve hit up some highlights of the five page article below.

The first question is the best book they’ve read recently…

When asked about the S&P 500 in 5 years, both agreed it would likely return under 10% a year.

Both are concerned about the ballooning U.S. trade deficit.

And their favorite desert at a Berkshire subsidiary, Dairy Queen, differs when faced to choose between the Dilly Bar or the Blizzard. Buffett prefers the Blizzard and Gates the Dilly Bar.

There are many other topics covered such as inheritances and philanthropy, it’s an interesting and quick read. The interplay between the two men is very entertaining too.

Advertising Disclosure: Bargaineering may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.
About | Contact Me | Privacy Policy/Your California Privacy Rights | Terms of Use | Press
Copyright © 2016 by All rights reserved.