Josh Brown’s latest book on investment strategy is due out later this month, featuring 25 different financial experts who share their approach to markets. While the investors featured in the book own different assets, Brown said Monday on CNBC that there is a unifying thread connecting them.
“Nobody has the same portfolio. They’re extremely different across the spectrum, for many different reasons, but the common theme … is that everyone’s portfolio makes sense to them,” Brown said on “Fast Money: Halftime Report.”
The book — “How I Invest My Money: Finance experts reveal how they save, spend, and invest” — is available for preorder now. Its release date is set for Nov. 17. Brown, CEO of Ritholtz Wealth Management, served as the co-editor along with Brian Portnoy, founder of financial wellness platform Shaping Wealth.
Among the contributors to the book are 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 what these financial professionals’ portfolios look like is not just what they own — what asset classes, what funds, what stocks — but why” they own them, Brown said. “When you ask the question,’ why?’ and you force people to really think about it, that’s really where all the interesting stuff happens.”
Brown said one of his personal takeaways from editing the various chapters was: “I don’t have to have a good reason for everything I do, if it feels right to me.” He pointed to a chapter from Bob Seawright, chief investment officer at Madison Avenue Securities who writes the “The Better Letter” newsletter.
“His chapter is about the worst investment he ever made financially, which is a beach house but the best investment emotionally because it’s where his family gathers all the time,” he said. “That was the kind of thing I think I needed to read.”