Thursday, June 25, 2009

Gareth Morgan - PIP Publishing - $37.99

Where does Gareth Morgan find the time and energy to do so much? Away motorcycling around the world's most remote places, writing articles and columns for newspapers and magazines, raising money for charities, touring the country lecturing on matters financial, advising NZ'ers on how to do the best with their retirement funds, and of course writing books.

Hardly a month since publication of his previous title, Poles Apart, on the subject of climate change, and hey presto here is another, After the Panic. This must make at least 10 titles in the past few years?! Part of his secret of course is he often uses as co-author, these last two for example have been co-written with the multi-talented and prolific Wellington freelance writer John McCrystal.

What is this one about then?
A champion of ordinary Kiwis, Morgan says his new book is for all of those decent and hard-working people who have been so badly let down by regulators, policy makers and individual company directors. He’s determined to do whatever he can to make sure that this never ever happens again.

"It’s a disgrace what’s happened. Look at all of the finance companies and money that’s gone down the tubes in the last couple of years," says Morgan.
"The property market is in tatters and lots of super schemes are in trouble.
"But, we’ve finally brought to an end this international 20 years of excess credit. It was just nuts. There were even government agencies who were lending people the money for their deposits if they didn’t have it for Pete’s sake.
"Now we’re facing a world without fast and loose credit and banks have to go back to core business. If you don’t have the 20% deposit you can’t get the money for the house. It’s that simple. End of story. This is the way it was for our parents and their parents. But, for a whole new generation this is a new thing.
"We need this book so we can figure out how to move forward. Although there’s been a lot of stuff swirling about in the media with names being mentioned here and there I suspect people were so overwhelmed with the unrelenting bad news that they ended up switching off – almost desensitised or so worn down by it all that they’ve disengaged. And this is dangerous.

Morgan's goal is to equip Kiwi investors with the tools they will need to make smarter and more financially literate choices in the future. If yiou need this sort of advice, and who doesn't, then this book will be thirty eight bucks well spent.

1 comment:

Toni said...

NZ is a small economy therefore the investment market size for personal investment is obviously small too.

There's no way one can increase their market shares without taking some portion of other market shares.

Gareth Morgan Investment is a good example. It has to take out some portion of market shares ruled by other financial advisers with other fund managers’ products.

Of course by selling his idea from this new book. Good marketing effort.