Locavesting: The Revolution in Local Investing and How to Profit from Itby Published 23 May 2011
|Locavesting: The Revolution in Local Investing and How to Profit from It.pdf|
|Publisher||John Wiley & Sons|
How individuals and communities can profit from local investing In the wake of the financial crisis, investors are faced with a stark choice: entrust their hard-earned dollars to the Wall Street casino, or settle for anemic interest rates on savings, bonds, and CDs. Meanwhile, small businesses are being starved for the credit and capital they need to grow. There's got to be a better way.
In Locavesting: The Revolution in Local Investing and How to Profit from It, Amy Cortese takes us inside the local investing movement, where solutions to some of the nation's most pressing problems are taking shape. The idea is that, by investing in local businesses, rather than faceless conglomerates, investors can earn profits while building healthy, self-reliant communities.
Introduces you to the ideas and pioneers behind the local investing movement Profiles the people and communities who are putting their money to work in their own backyards and taking control of their destinies Explores innovative investment strategies, from community capital and crowdfunding to local stock exchanges With confidence in Wall Street and the government badly shaken, Americans are looking for alternatives. Local investing offers a way to rebuild our nest eggs, communities, and, just perhaps, our country.
"Locavesting: The Revolution in Local Investing and How to Profit from It" Reviews
I bought Amy Cortese's book last summer, started reading and got so excited I had to put it down. Chocked full of energy and ideas, this is a book worth reading, re-reading, and sharing. Her call to "rethink the way we invest so that we support the small businesses that create jobs and healthy, resilient communities," offers the sort of practical and specific success models most books along these lines (Business? Not sure which category it belongs, but it's definitely non-fiction; Business-Help?)are more like blowing smoke than anything else. Untested ideas that sound good, but ....
Cortese's easy-to-read, harder to put down, gem ignites readers from the Table of Contents (first stop w/ most books, followed by index and bibliography or notes, each of which are excellent): Introduction: "Cereal Milk for the Gods", and the smattering of chapter titles, "The Economics of Local," "Motherhood, Apple Pie, and Political Theater," "Blue Skies, Pipe Dreams, and the Lure of Easy Money," "Buy Local, Eat Local . . . Invest Local," "Community Capital: It takes a village, or a police force, or perhaps some farmers", and my favorite chapter: "From Brown Rice to Biofuels: Co-ops on the Cutting Edge." We've already re-defined the "Cutting Edge" to the point of . . . yet, in this context, Cortese explodes the idea of Co-ops and iterates, "This is not your father's Co-op," and she's right.
Old ideas-New Wine skins for this New Age that works across the board, fundamental to supporting and funding and investing in virtually any business today. An excellent read.
I would probably give this 3.5 stars if I could. It surveys a number of different financial mechanisms for local investing, and discusses the advantages and disadvantages to both investors and companies seeking capital. I learned something reading this, particularly about the challenges that small companies outside the tech sector face when raising capital.
I was a bit worried that the author would sacrifice data and detail for a sort feel-good advocacy, but in the end I thought she did a fairly good job of focusing on the practical and regulatory challenges faced by some of these new investing models.
I'm no banker or economist, but there is a lot in this book I would like to try. I got a little tired of her telling us again and again how big banks are bad, how the current stock market isn't a way for small firms (who create all jobs) to raise capital, etc. I don't think there's many of her ideas I can use now in my local area. It would be different if I lived (like she does) in Brooklyn, NY. I think community leaders, community-minded bankers, and small business owners looking to expand should read (or at least skim) this book.
Fair. The book was fair. Some of it was really good. It is mostly promoting the idea of local investing, and explaining why the traditional kind is so terrible.
I would also give it 3.5 stars if I could. I would like to see a guide that shows more of the ways that individuals can get started, explain how to do research, and give a way to keep tabs on the movements that are opening up the investment market.
Amy Cortese promotes investing a portion of your money locally. Via the multiplier effect, such investments support your neighbors, are much safer for your money than you might think, and provide intangible rewards, and personal involvement with ideas or individuals that you favor.
Also, the NYSE is taking us all away from capitalizing a company that grows America. Money here is as likely to end up with Volkswagon, a derivative, Bernie Madoff, or a company exporting jobs to Mexico.
The SEC is trying to protect small investors, but becomes cumbersome and unkind to companies trying to grow in your community. Loans and co-ops are touted by Ms. Cortese. Easiest to do is to bank at a local bank which is much more likely than the bigger banks to invest in business near your home to promote local growth. What isn't helpful is banking at a bank "too big to fail". Our best investments have been real estate and a doctors' owned health insurance product. A very interesting book.