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      Invested, the memoir of the entrepreneur Charles Schwab, is a classic saga of American capitalism. It is also an inspiring read, with life lessons that go far beyond the world of business.

For those not familiar with his work, Mr. Schwab’s company revolutionized the way Americans were able to invest. The beneficial effects of what he accomplished ripple through the economy to this day.

The book is written in a conversational manner, as if dictated (a reasonable assumption given the author’s dyslexia), and in clear, concise prose that makes engaging reading.  It avoids the plodding detail of the overly meticulous biographer. Instead, the effect is more of a freewheeling discussion, perhaps an evening having a drink with a man who has led a remarkable life and is now ready to pour out his heart.

Born in the aftermath of the Great Depression, Mr. Schwab was raised in a family that was respectably middle-class, but by no means wealthy.  Throughout his childhood, money was often tight, and frugality was a necessity as well as a virtue.  One day his father explained to him the stock tables in the local newspaper, and Mr. Schwab was struck by the idea of building wealth through investing in the stock market.

That proved a pivotal moment in his young life. As he grew up, Mr. Schwab became fascinated with the power of wealth to provide freedom and peace of mind to the individual. How did some people manage to achieve wealth, while others struggled to just get by?

Through college and business school in the 1960s, he was drawn to the stock market. Why did investing in the market seem like some sort of exclusive Wall Street club? Why could one only invest through high-priced brokers, who catered to people who already had money?

Above all, why couldn’t investing in the market be available to the average person, to Main Street as well as Wall Street?

In those pre-internet, pre-cable television days of the 1960s and 1970s, Mr. Schwab was determined to break through the opacity of the market. He researched companies and devoured stock charts. He started a stock market newsletter, with a small but growing following, and later added brokerage services.

And, in 1973, he founded Charles Schwab and Company. Its mission was both simple and grand: to open the world of stock investing to the great American middle class, by offering stock trading at a fraction of the prices charged by the big Wall Street firms.

The beginning was less than auspicious. At the time Mr. Schwab was already in his mid-thirties. He was not only broke, but deep in debt, living in a one-bedroom apartment in Sausalito with a wife and new baby. Moreover, his contrarian position of offering discounted brokerage fees made him a disruptor, a pariah, to the Wall Street establishment.

Fate intervened in his favor, however, in 1975, when the Securities and Exchange Commission deregulated the securities industry, freeing brokerage companies to charge any fees they wanted. His time had come. Charles Schwab and Company was off and running.

For those who have lived through the roller-coaster of the market during those ensuing decades, it is exhilarating to relive them again as the chapters chronicle the spectacular growth of Schwab and Company.   Mr. Schwab pioneered many innovations we take for granted today, including 24/7 access to services and the one-stop trading marketplace. When the 1990s brought the internet, Schwab and Company jumped on the bucking bronco and became the first firm to sell stocks and mutual funds online.

And, of course, we ride through the dizzying downswings of the market’s roller coaster. The book powers through the crash of 1987, the dot-com crash of 1999-2000, the post 9/11 doldrums, and the Great Recession of 2008-2009. Each time, Schwab and Company emerges humbled but wiser, and eventually stronger.

There is a cautionary tale that resonates in today’s world. In 1981 Mr. Schwab received an offer to sell his company to the Bank of America. He would stay on as CEO, and in exchange would become, at age 44, a wealthy man, as he would be handsomely paid in shares of Bank of America stock.

He accepted the offer and sold his company. To his chagrin, however, he discovered that he had also sold his company’s soul. All of his life Mr. Schwab had been an entrepreneur, able to make his own decisions and change his company’s course, on the spot. Now, with the company a wholly owned subsidiary of a big bank, every decision had to be approved by layers of faceless bureaucrats. Worse, the value of his Bank of America stock crashed, as large loans to foreign countries began to go bad.

Fortunately, Mr. Schwab was able to purchase his company back from Bank of America, and regain his independence. He paid a high price for his exit, however, and vowed to never again make such a mistake.

It might seem a stretch to compare an individual to a nation—but is this not the story of Brexit? England initially welcomed the wealth and apparent security of the European Union, only to find it was losing its independence as a sovereign nation. Now England is paying a high price to regain its freedom.  There is a lesson here for enterprises large and small, to avoid entanglements that erode liberty.

From a tiny startup some forty years ago, Charles Schwab and Company has grown to become America’s largest publicly traded investment services firm, with over ten million client accounts and over three trillion—yup, trillion—dollars in assets. As Amazon has done for the retail consumer, Schwab and Company has been the source of countless innovations that have increased the wealth and knowledge of the individual investor.

Now age 82, Mr. Schwab ends his book with a deeply personal reflection on the values that have guided him throughout his life. A man of faith and family, he is also devoted to the principles of personal and economic freedom found in the U.S. Constitution. And thus, he correctly sees the world of business as “the human spirit of curiosity and creativity brought to life, and why I am ever optimistic about the future.”

A life in full, indeed.

 

 

 

The post A Life In Full: Book Review of ‘Invested’ by Charles Schwab appeared first on Kevin Scott Olson.

 

 

The Goodreads Giveaway for Quinn: The Short Stories, Volume 1

 has started!

Enter today to win your personal copy!

Click here:https://www.goodreads.com/giveaway/show/293417-quinn-the-short-stories-volume-1

Or, go to www.goodreads.com, enter Quinn: The Short Stories, Volume 1? in the search box, and scroll down to “Win a Copy.”

And what is Quinn: The Short Stories, Volume 1?

Intrigue. Adventure. Action.

  This first-ever collection of short stories will take the reader on an unforgettable ride into Quinn’s world.

Each story is a separate, stand-alone adventure: Paradise, Baltic Dance, Texas Time, Roseblood, The Goddess of the Deep, Night Dive, The Ballerina, and Breakout.

“This appealing spy is ready for his own series.”–Kirkus Reviews

“Rip-roaring thriller.”-Amazon

“Fantastic, energy-packed.”-Goodreads

Enter today to win your own copy!

https://www.goodreads.com/giveaway/show/293417-quinn-the-short-stories-volume-1

The post Enter Today to Win Your Personal Copy of Quinn: The Short Stories, Volume 1 appeared first on Kevin Scott Olson.

 

The Goodreads Giveaway for Baltic Dance,

the latest Michael Quinn short story, has started!

Enter today to win your personal copy!

Click here: https://www.goodreads.com/giveaway/show/293413-baltic-dance

Or, go to www.goodreads.com, enter Baltic Dance in the search box, and scroll down to “Win a Copy.”

And what is Baltic Dance?

Michael Quinn, former Navy SEAL, is now a special operative

for the CIA. In Baltic Dance, Quinn travels undercover into

Russia, and into the world of classic espionage.

A challenging hostage rescue is the only hope to quell global tensions that rival those of the  Cold War.

“This appealing spy is ready for his own series.”–Kirkus Reviews

“Rip-roaring thriller.”-Amazon

“Fantastic, energy-packed.”-Goodreads

Enter today to win your own copy!

https://www.goodreads.com/giveaway/show/293413-baltic-dance

The post Enter Today to Win Your Personal Copy of Baltic Dance appeared first on Kevin Scott Olson.

 

 

The Goodreads Giveaway for Quinn: The Short Stories, Volume 1

 has started!

Enter today to win your personal copy!

Click here:https://www.goodreads.com/giveaway/show/293417-quinn-the-short-stories-volume-1

Or, go to www.goodreads.com, enter Quinn: The Short Stories, Volume 1? in the search box, and scroll down to “Win a Copy.”

And what is Quinn: The Short Stories, Volume 1?

Intrigue. Adventure. Action.

  This first-ever collection of short stories will take the reader on an unforgettable ride into Quinn’s world.

Each story is a separate, stand-alone adventure: Paradise, Baltic Dance, Texas Time, Roseblood, The Goddess of the Deep, Night Dive, The Ballerina, and Breakout.

“This appealing spy is ready for his own series.”–Kirkus Reviews

“Rip-roaring thriller.”-Amazon

“Fantastic, energy-packed.”-Goodreads

Enter today to win your own copy!

https://www.goodreads.com/giveaway/show/293417-quinn-the-short-stories-volume-1

The post Enter Today to Win Your Personal Copy of Quinn: The Short Stories, Volume 1 appeared first on Kevin Scott Olson.

 

 

The Goodreads Giveaway for Baltic Dance,

the latest Michael Quinn short story, has started!

Enter today to win your personal copy!

Click here: https://www.goodreads.com/giveaway/sh...

Or, go to www.goodreads.com, enter Baltic Dance in the search box, and scroll down to “Win a Copy.”

And what is Baltic Dance?

Michael Quinn, former Navy SEAL, is now a special operative

for the CIA. In Baltic Dance, Quinn travels undercover into

Russia, and into the world of classic espionage.

A challenging hostage rescue is the only hope to quell global tensions that rival those of the  Cold War.

“This appealing spy is ready for his own series.”–Kirkus Reviews

“Rip-roaring thriller.”-Amazon

“Fantastic, energy-packed.”-Goodreads

Enter today to win your own copy!

https://www.goodreads.com/giveaway/sh...

The post Enter Today to Win Your Personal Copy of Baltic Dance appeared first on Kevin Scott Olson.

Michael Quinn, a former Navy SEAL, is an independent contractor for the CIA.

His specialty: missions that must be kept off the books.

What is Baltic Dance?
 
Quinn travels undercover to Russia, and into the world of classic espionage.

A challenging hostage rescue is the only hope to stop global tensions that rival those of the
Cold War.









“Rip-roaring thriller”- Amazon

“[Quinn] is more than capable when shots are fired”- Kirkus Reviews

“Fantastic, energy-packed!”- Goodreads

” Five stars! Unable to put the book down.”- Amazon

Watch for Baltic Dance, arriving this summer!

The post  Michael Quinn is back! Coming Soon–the new short story ‘Baltic Dance.’ appeared first on Kevin Scott Olson.

 

I was recently introduced to the writing of C.J. Box after hearing an interview with him on the Hugh Hewitt radio show. Since then I have read Endangered, Blue Heaven, and now Open Season, the first novel in the ongoing Joe Pickett series.

These are crime novels, set in states such as Wyoming and Montana. They revolve around ordinary people becoming involved in extraordinary situations. In the Joe Pickett series, Joe is a game warden, married, with three daughters, a unique and creative choice for a protagonist.

C. J. Box is a first-rate writer. His characters come alive with superb detail and description, and the background settings of the flora and fauna of the states can be hauntingly beautiful. The plots confront head-on both the inspiring and the dark side of human nature.

All of the novels have been an enjoyable and compelling read. I look forward to reading more!

The post Open Season C J Box appeared first on Kevin Scott Olson.

The Reality of Vladimir Putin’s Russia

The collapse of the Soviet Union was a pivotal moment in history. The Western values of democracy, liberty, and free markets seemed to be sweeping the world. Would the new Russia, emerging from the ruins of communism, also adopt these values?

The answer is found in The Code of Putinism, by Brian D. Taylor, Professor and Chair of Political Science in the Maxwell School at Syracuse University. This is a gem of a book, concise and well-researched. The author shows a deep breadth of knowledge, and his writing makes history come alive.

Russian leaders Mikhail Gorbachev and Boris Yeltsin laid the groundwork for a new nation, setting up a system of property rights, democratic elections, and the rule of law. Yeltsin’s leadership was unstable, however, and in 1999 Russia elected a new President, Vladimir Putin.

Was Russia ready to move away from the authoritarian tradition of Ivan the Terrible and Stalin?

President Putin yearned for Russia to regain its standing as one of the world’s great powers, and to be as rich and prosperous as the West. He recognized the superiority of free-market capitalism over the centrally planned economy, and was ready to leave communist ideology in the dustbin of history.

And yet, as Professor Taylor’s book illustrates, Mr. Putin did not accept the lack of state control that comes with governing a free people.

Americans see a free economy as offering choices and opportunity. They see free democratic elections as their right to throw out the old leader and try a new leader, perhaps someone unconventional, such as a movie star or athlete.

To Mr.  Putin, however, this all represented disorder.  Disorder meant chaos. And chaos meant only bad things: famine instead of prosperity, weakness instead of strength, vulnerability rather than security.

Nothing better illustrates the enormous chasm that still remains between Russia and the West, than  these opposing views of a free society.

Putin’s solution, evolving over his long rule, has been to retain the outward shells of democracy, federalism, and a free market, but to subvert them from the inside so that Russia remains an updated version of central control from the Kremlin.

The chapter “Leashes and Clubs” illustrates this in fascinating detail. Gone are the days of the Gulag and death squad; such things would not play well to an internet-connected world. Instead, Putin utilized what the author calls “low-intensity coercion,” built around harassment, investigation, and imprisonment. This effectively neutered the system of checks and balances, and gave Putin unlimited power.

Over time most serious opposition to Putin was thus eliminated, with many high-profile individuals forced to surrender their wealth and leave the country.

Does Russia today have political parties and elections? Yes, but all the parties are loyal to the Kremlin, and the elections serve to legitimize its rule. Is there a criminal courts system? Yes, but the courts are concerned with following protocol, not some silly concept of justice, and most defendants are assumed to be guilty. Can you start a small business? Yes, but be prepared to pay protection to the local authorities. Can you start an internet blog? Yes, but you must register with the state.

Do you have the right to free speech? This quote from a Kremlin aide says it all: “Putin is no enemy of free speech. He simply finds absurd the idea that somebody has the right to criticize him in public.”

There you go. To the statist mind, democracy is a scam and freedom is a threat. Capitalism is allowed, but only managed crony-capitalism that properly rewards friends of the state.

To give Mr. Putin credit where credit is due, life in Russia today is far better than in the Soviet days. Russians today are more urban, literate, and prosperous than ever before. To give just one example, Moscow is now dotted with attractive shopping malls, and, to quote the author, in the old days “Brezhnev didn’t do malls.”

Inevitably, however, centrally planned economies begin to decline. Imagine one central planner, one dictator, trying to duplicate the combined talents of Bill Gates, Warren Buffett, Jeff Bezos, Ken Langone, et al. Today the Russian economy is stagnant, limping along at a growth rate of 0.4% per year.

What lies in store for the future of Russia? The author paints a bleak picture of an ossifying bureaucracy, and notes that such regimes rarely end well.

All true. I would add. however, that for a country that has produced Dostoevsky and Stravinsky, chess grand-masters and stunning ballerinas, there is always cause for optimism. Simply imagine the possibilities, were the Russian nation to embrace individual freedom.

The Code of Putinism is highly recommended.

 

The post The Code Of Putinism–Book Review appeared first on Kevin Scott Olson.

Our latest Goodreads Giveaway has started!

Enter today to win an autographed print copy of the new Michael Quinn short story Paradise.

What is Paradise?

‘On a rainy night, traveling along a desolate stretch of the California coast, Michael Quinn pulls his motorcycle off the highway and checks into a roadside inn. 

An unforgettable evening awaits him…if he lives through it.’ -Spartan Press

“This appealing spy is ready for his own series.”-Kirkus Reviews

“Grabs your attention and takes  you for a wild ride.”-Goodreads

Hurry–this Giveaway for this action-packed thriller  ends soon!  Go to www.goodreads.com, click on Giveaways, and enter the contest to win a copy of  Paradise.

The post NEW! Enter Today to Win A Print Copy of ‘Paradise’ appeared first on Kevin Scott Olson.

What is Paradise?

On a rainy night, traveling along a desolate stretch of the California Coast, Michael Quinn pulls his motorcycle off the highway and checks into a roadside inn.

 

An unforgettable evening awaits him…if he lives through it.

“This appealing spy is ready for his own series”- Kirkus Reviews

 

Paradise is available for order here

“Action packed…has it all!”-Amazon Review

“Great story…keeps you turning the pages”-Goodreads

The post Michael Quinn is back! Available NOW–the new short story ‘Paradise.’ appeared first on Kevin Scott Olson.