How to Invest: Masters on the Craft

Rubenstein (The American Story), cofounder and cochairman of the Carlyle Group, mines the minds of 23 top-shelf investors in these inspiring interviews. Many of his subjects have similar traits, he notes: they don’t come from wealthy backgrounds, are familiar with failure, have “a high degree of intelligence,” and are big readers. Rubenstein organizes the book into sections covering traditional investments (bonds, stocks, and real estate), alternative investments (venture capital, private equity, and buyouts), and “cutting edge” investments (cryptocurrency and infrastructure). Larry Fink, the chairman and CEO of BlackRock, warns that “investors should not assume that what we perceive today is going to be the same in seven years,” while Mary Callahan Erdoes, the chief executive officer at J.P. Morgan Asset & Wealth Management, asserts: “The best wealth managers in the world do much more listening than they do talking.” While some of the conversations can get a bit dry, for the most part this is a levelheaded and helpful compendium of advice, devoid of hard sells or razzle-dazzle: “Do not think you are an expert or genius in investing because you are an expert or genius in any other area,” Rubenstein writes. The result is an excellent collection for readers interested in the world of investment. Agent: Robert Barnett, Williams & Connolly. (Sept.)