My Vast Fortune: The Money Adventures of a Quixotic Capitalistby Andrew Tobias
--Christopher Buckley, author
"This book will make you rich. Filthy stinking rich. You will never need to work again. You will spend the rest of your life on the Riviera sipping piña coladas and listening to Sinatra. And even if this doesn't happen, Andrew Tobias will provide you with such a wealth of wit that you will retire with a vast fortune of laughter. "
--Christopher Buckley, author of Wry Martinis
As Newsweek put it, "Andrew Tobias remains the funniest of the financial writers." Forbes identified him as "one of the financial community's most pithily perceptive observers." In My Vast Fortune, the bestselling author of The Only Investment Guide You'll Ever Need tells the amusing and illuminating story of how he amassed dizzying (well, to him) wealth. Then, he describes the unusual ways he's put it to work. Among his more famous money adventures are:
His personal campaign against smoking in Russia, which began when he spotted an opportunity to buy cheap TV airtime for commercials. "Excuse my pronunciation, " he told ninety million Russians night after night, "but I have something important to tell you."
His decision to buy real estate in Miami over the phone, without ever seeing it. For the price of a swank two-bedroom apartment in New York, Tobias realized he could buy most of a neighborhood--so he did. Oops. The tragicomic story of liberal as slumlord.
His crusade to fix the auto insurance mess, which pitted him against--of all people--his onetime hero Ralph Nader. After spending $250,000 of his vast fortune on a referendum in California (where he has never lived), Tobias came to two conclusions: 1) "Each of us has a calling and--though appallingly boring--auto insurance seemed more and more to be mine" ; and 2) "Ralph Nader is a big fat idiot."
Finally, Tobias addresses your vast fortune and offers his wisest tips on how to make it and how to spend it. Witty and compassionate, Andrew Tobias is a plutocrat for the nineties, a capitalist with a heart. If you enjoyed The Only Investment Guide You'll Ever Need, you'll love My Vast Fortune.
From the Hardcover edition.
Tobias's (The Only Other Investment Guide You'll Ever Need, 1987, etc.) journey from prosperous childhood to extremely prosperous adulthood illustrates his basic financial advice: Hold sound investments for a long time and let appreciation and interest do their work; everything else is serendipity or stupidity. He is refreshingly honest about the role played by the former in the accumulation of his fortune, but the real focus of this volume is what he does with what he's accumulated. From a real-estate venture in a rundown Florida neighborhood to an anti-smoking campaign in Russia to a fight for no-fault auto insurance and tort reform in California, Tobias finds opportunities to do good with his money seemingly at random, then pursues them with abandon. The no-fault discussion (some would say obsession) cuts to the heart of his political message: Liberals should proudly embrace their bleeding hearts without developing jerking knees. In an ongoing battle with Ralph Nader and others, Tobias insists that the unlimited right to sue, adamantly defended by Naderites as the little man's ultimate protection against the powerful, actually benefits trial lawyers far more than the victims of accidents. Indeed, Tobias argues that removing exorbitant legal costs from the present system would allow more money to go to accident victims while also reducing insurance premiums. According to Tobias, Nader's opposition to tort reform doomed the no-fault initiative, for once the saint of consumerism pronounced it flawed, rationaldiscussion among liberals was over. Although Tobias does maintain his considerable sense of humor throughout this section, the battle has obviously left a bitter taste in his mouth.
Rarely is the adjective "hilarious" used to modify the noun "capitalist," but here it is appropriate.
- Random House Publishing Group
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- Random House
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- 2 MB
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Meet the Author
Andrew Tobias was born in New York, attended Harvard College and Harvard Business School, and has written extensively for twenty-five years on subjects relating to money, business, and personal finance. He has received both the Gerald Loeb Award for Distinguished Business and Financial Journalism and the Consumer Federation of America Media Service Award. He lives in Miami, New York, and email@example.com.
From the Hardcover edition.
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