• Invested

  • Changing Forever the Way Americans Invest
  • By: Charles Schwab
  • Narrated by: Fred Sanders
  • Length: 11 hrs and 13 mins
  • 4.7 out of 5 stars (421 ratings)

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Invested  By  cover art

Invested

By: Charles Schwab
Narrated by: Fred Sanders
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Publisher's summary

"To say Charles Schwab is an entrepreneur is actually an understatement. He really is a revolutionary." (Phil Knight, co-founder of Nike, author of Shoe Dog)

The founder of The Charles Schwab Corporation recounts his ups and downs as he made stock investing, once the expensive and clubby reserve of the few, accessible to ordinary Americans.

In this deeply personal memoir, Schwab describes his passion to have Main Street participate in the growing economy as investors and owners, not only earners. Schwab opens up about his dyslexia and how he worked around and ultimately embraced it, and about the challenges he faced while starting his fledgling company in the 1970s. A year into his grand experiment in discounted stock trading, living in a small apartment in Sausalito with his wife, Helen, and new baby, he carried a six-figure debt and a pocketful of personal loans. As it turned out, customers flocked to Schwab, leaving his small team scrambling with scarce resources and no road map to manage the company’s growth.

He recounts the company’s game-changing sale to Bank of America - and how, in the end, the merger almost doomed his organization. We learn about the clever and timely leveraged buyout he crafted to regain independence; the crushing stock market collapse of 1987, just weeks after the company had gone public; the dot-com meltdown of 2000 and its reverberating aftermath of economic stagnation, layoffs, and the company’s eventual reinvention; and how the company’s focus on managing risk protected it and its clients during the financial crisis in 2008, propelling its growth.

A remarkable story of a company succeeding by challenging norms and conventions through decades of change, Invested also offers unique insights and lifelong principles for listeners - the values that Schwab has lived and worked by that have made him one of the most successful entrepreneurs of our time. Today, his eponymous company is one of the leading financial services firms in the world.

Advance praise for Invested

"I’ve admired Chuck Schwab for a long time. When you read this book, you’ll understand why." (Warren E. Buffett)

"This is a fascinating story that teaches you about the never-ending evolution of an entrepreneurial company, but even more about personal learning from that experience. So read, learn how to learn from experience, and enjoy." (George P. Shultz, former secretary of Labor, Treasury, and State)

©2019 Charles Schwab (P)2019 Random House Audio

Critic reviews

"Chuck Schwab provides an engaging look into the investing world, balanced between his penchant for risk-taking with his grace and humility. He crafts a creative and highly rewarding story of not just Charles Schwab, the company, but Charles Schwab, the person. There are life lessons in this book for everyone, from Wall Street to Main Street." (Condoleezza Rice, former US Secretary of State and Denning Professor in Global Business and the Economy at the Stanford Graduate School of Business)

"By turns practical and personally insightful, Charles Schwab’s indefatigable spirit, sound judgement, and entrepreneurial experience shine through in Invested. Throughout his childhood and career, Chuck overcame challenges and set a standard of leadership and innovation throughout decades of change in our US economic system." (Jamie Dimon, chairman and CEO, JPMorgan Chase)

"Like myself, Chuck is a dyslexic. He learned early on that he had his limits and therefore - unlike most nondyslexics - discovered the power of delegation. He discovered that business is all about people who share your vision and values but bring their own passion and strengths to the tasks. He realized early on that the world is full of people more capable than himself in ‘a thousand different ways.’ Most leaders and entrepreneurs never learn that simple lesson. It was his dyslexia that helped him create one of the most successful companies in the US. Invested is a must-read for anyone interested in working in a business or becoming an entrepreneur. An extraordinary life and book." (Sir Richard Branson, founder of the Virgin Group)

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