Invested: Changing Forever the Way Americans Invest
A wonderful recap of the career of Chuck Schwab and the history of the Charles Schwab corporation, this book details the early days of Schwab, specifically focusing on how they revolutionized the brokerage industry by lowering trading fees and making investing accessible to the masses. It is hard to imagine now, but prior to the deregulation of brokerage rates or “May Day”, investing in stocks was too expensive and too complicated for the average person, even those that wanted to put in the time researching the market.
Favorite Part: At various stages, the Schwab corporation faced make-or-break decisions that would have meant disaster if they had not worked out in Schwab’s favor. I always find it interesting to hear about the time when a company struggled or faced a difficult decision and how their culture was molded by those early experiences.
Favorite Quote: “I’d just always assumed that even in a worst-case scenario, if I had to start all over again at zero, I’d be okay. I would land on my feet again.”