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“Charles Schwab is not merely an entrepreneur; he’s a game-changer.” (Phil Knight, Nike co-founder and author of Shoe Dog.) In his deeply personal memoir, Schwab, the founder of The Charles Schwab Corporation, takes readers through his journey of making stock investing approachable and accessible to the average American. He sought to turn Main Street into investors and owners, not just earners, in the thriving economy.
This engaging narrative details Schwab’s struggles with dyslexia, his determination to overcome it, and the hurdles faced in the early stages of his company during the 1970s. Schwab reveals how he lived in a small Sausalito apartment, burdened by six-figure debt and personal loans, a year into his groundbreaking venture in discounted stock trading. His company grew faster than expected, attracting a mass of customers who left his small team grappling with limited resources and no playbook to handle the growth.
He shares the company’s pivotal sale to Bank of America, which ironically almost led to its downfall. The readers are given an insider’s view into the ingenious leveraged buyout Schwab devised to reclaim his company’s independence; the devastating stock market crash of 1987, occurring just weeks after the company’s public debut; the dot-com bust of 2000, its subsequent economic slump, layoffs, and the company’s ultimate rebirth.
Schwab also describes how the company’s emphasis on risk management safeguarded it and its clients during the 2008 financial crisis, triggering its expansion. Invested tells the extraordinary tale of a company that defied norms and reinvented itself through decades of change. It offers invaluable insights and life-long principles for readers, embodying the values that have propelled Schwab to become one of the most triumphant entrepreneurs of our era. Today, his namesake company stands tall as one of the world’s premier financial services firms.
Advance praise for Invested:
“I’ve admired Chuck Schwab for a long time. When you