So Far, So Good: The First 94 Years

by Roy R. Neuberger

Overview

Notorious as one of Wall Street's oldest living legends, Roy Neuberger delivers a truthful and interesting account of his extraordinary life. Focusing on his start in the market from seven months before the 1929 crash, up to the 1987 crash, till today, he shares his 93 years of experience as a market sage. Neuberger also paints a wonderful picture of his love of contemporary art and his role in the art world, his donations to museums throughout the country of hundreds of pieces worth tens of millions.

Product Details

ISBN-13:	9780471171867
Publisher:	Wiley
Publication date:	09/22/1997
Pages:	256
Product dimensions:	6.26(w) x 9.25(h) x 0.91(d)

About the Author

ROY R. NEUBERGER founded the $50 billion money management firm of Neuberger&Berman in 1939. In 1950, he established the Guardian Mutual Fund, one of the first no-load mutual funds. In his 68 years on the Street, he has never had a losing year.

Table of Contents

The Roots of Joy.

Paris in the Twenties.

From Boulevard St.

Germain to Wall Street: The Panic of 1929.

After the Panic.

Making Money in Hard Times.

Starting a Family.

Launching Neuberger & Berman.

Guardian: The Mutual Fund Comes of Age.

A Collection Blossoms.

Creating the Neuberger Museum of Art.

Ten Principles of Successsful Investing.

Reflections at Age 94.

Epilogue: So Far, So Good.

About the Connables.

Index.

Editorial Reviews

The tone of Neuberger's autobiography, written with freelancers Alfred and Roma Connable, is distancing and offers little insight concerning his thoughts and actions: he doesn't explain why he considers someone to be a "good" person, for example, or how he misdiagnosed the potential worth of a stock like Coca-Cola. The man who founded the Neuberger & Berman money management firm in 1940 doesn't offer great financial advice, either: before you invest, "analyze the companies closely" is typical. And it is unlikely readers will come away remembering much about the way Neuberger assembled a valuable collection of American art. The main appeal of this book stems from his Wall Street perspective as he recalls events from just before the crash of 1929 to today. He writes, "On my wedding day, June 29, 1932, the Dow Jones average dipped to 42, the lowest average in Wall Street history, before or since." Today the Dow hovers around 8000. When you have been around this long, Neuberger notes, you tend not to be taken in by fads and realize that profiting on every dollar is not possible. That advice alone could serve many well. (Oct.)

Publishers Weekly - Publisher's Weekly

An engaging if cursory memoir from Neuberger, who at age 94 is still going strong in the challenging worlds of finance and philanthropy.

Following a comfortable childhood in New York City, Neuberger (who was orphaned at 13) dropped out of college to work as a fabrics buyer at B. Altman, a carriage-trade retailer. A young man of independent means, he subsequently settled in Paris, where his tennis skills and interest in the fine arts ensured him an active social life. He returned to Manhattan in 1929, just months before the stock market crash, and joined a brokerage house called Halle & Stieglitz. Despite hard times on Wall Street and Main Street, Neuberger prospered in his chosen career and managed to preserve the capital that had been left to him. By now married with children, Neuberger (in partnership with Robert B. Berman) opened his own firm in 1940. Nearly six decades later, the firm occupies a secure niche in the ultracompetitive securities business, largely on the strength of its co-founder's skills at value investing, and can claim credit for creating one of the industry's first no-load mutual funds (Guardian). During the late 1940s, Neuberger began to buy the works of contemporary painters (Milton Avery, Stuart Davis, Peter Hurd, et al.). The quality and quantity of his acquisitions led Nelson Rockefeller (then governor of New York) to build him an eponymous museum on the state university's new campus in Purchase in return for his collection.

Complete with tips on achieving longevity, financial security, and emotional satisfaction, an elder statesman's look back in obvious pleasure, albeit no great depth, on a fulfilling life.

Kirkus Reviews