Josh Brown on the best classes from his new funding e book
Josh Brown’s latest investment strategy book is due out later this month and features 25 different financial professionals who share their approaches to the market. While the investors featured in the book own different assets, Brown said on CNBC Monday that there is a unified thread that connects them.
“Nobody has the same portfolio. They differ significantly across the spectrum for a number of reasons, but the common theme … is that each portfolio makes sense to them,” Brown said on Fast Money: Halftime Report.
The book “How I Invest My Money: Financial Professionals Show How They Save, Spend and Invest” – is available for pre-order now. The release date is November 17th. Brown, CEO of Ritholtz Wealth Management, was co-editor with Brian Portnoy, founder of the financial wellness platform Shaping Wealth.
The book’s authors include Morgan Housel, partner at The Collaborative Fund and former columnist at The Wall Street Journal, and Christine Benz, director of personal finance at Morningstar.
“The most interesting aspect of these finance professionals’ portfolios is not just what they own – which asset classes, which funds, which stocks – but why,” said Brown. “If you ask the question, ‘why?’ and you make people really think about it, that’s where all the interesting things really happen. “
Brown said one of his personal insights from working through the various chapters was, “I don’t have to have a good reason for anything I do if it feels right to me.” He pointed to a chapter written by Bob Seawright, chief investment officer at Madison Avenue Securities, who writes The Better Letter newsletter.
“His chapter is about the worst investment he has ever made financially. This is a beach house, but emotionally the best investment as his family gathers there all the time,” he said. “I must have read something like that.”