What do you think?
Rate this book
Locavesting: The Revolution in Local Investing and How to Profit From It
How individuals and communities can profit from local investing In the wake of the financial crisis, investors are faced with a stark entrust their hard-earned dollars to the Wall Street casino, or settle for anemic interest rates on savings, bonds, and CDs. Meanwhile, small businesses are being starved for the credit and capital they need to grow. There's got to be a better way. In The Revolution in Local Investing and How to Profit from It , Amy Cortese takes us inside the local investing movement, where solutions to some of the nation's most pressing problems are taking shape. The idea is that, by investing in local businesses, rather than faceless conglomerates, investors can earn profits while building healthy, self-reliant communities.
252 pages, Hardcover
First published May 4, 2011
14 people are currently reading
310 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 24 of 24 reviews
June 4, 2012
This is a thought-provoking book. I tended to think about maximizing the financial return from my investments, and using a portion of that to support the causes that I care about. This book challenges you to think more about the investments themselves. "Locavesting" by analogy to "Locavore" is about investing in your own community. Amy Cortese makes the case for why it's a good thing (supports jobs in your community, and local patronage keeps money in the community more than chain-store purchases) and tells a number of stories about communities (and leading citizens within them) who have stepped up to make these changes. She talks about cooperatives, credit unions, and some of the more esoteric alternatives like direct public offerings and local exchanges.
Although many of the current investing alternatives are restricted to "accredited investors" (net worth excluding home of $1M+) some of that is starting to change. Companies are now permitted to raise up to $1M from "crowdfunding" scenarios of regular investors.
My slight disappointments with the book were what I felt was the over-reliance on a small number of case studies/anecdotes. I guess these are newer topics that are not widely available, but I'd liked to have seen a broader range of examples. It's also a fast-changing area, so even though it's a recent book, some of the descriptions are of things that "will happen" in 2011, and I'm curious to see whether they really did. I hope that she revises/updates the material to keep this book current.
June 18, 2012
I bought Amy Cortese's book last summer, started reading and got so excited I had to put it down. Chocked full of energy and ideas, this is a book worth reading, re-reading, and sharing. Her call to "rethink the way we invest so that we support the small businesses that create jobs and healthy, resilient communities," offers the sort of practical and specific success models most books along these lines (Business? Not sure which category it belongs, but it's definitely non-fiction; Business-Help?)are more like blowing smoke than anything else. Untested ideas that sound good, but ....
Cortese's easy-to-read, harder to put down, gem ignites readers from the Table of Contents (first stop w/ most books, followed by index and bibliography or notes, each of which are excellent): Introduction: "Cereal Milk for the Gods", and the smattering of chapter titles, "The Economics of Local," "Motherhood, Apple Pie, and Political Theater," "Blue Skies, Pipe Dreams, and the Lure of Easy Money," "Buy Local, Eat Local . . . Invest Local," "Community Capital: It takes a village, or a police force, or perhaps some farmers", and my favorite chapter: "From Brown Rice to Biofuels: Co-ops on the Cutting Edge." We've already re-defined the "Cutting Edge" to the point of . . . yet, in this context, Cortese explodes the idea of Co-ops and iterates, "This is not your father's Co-op," and she's right.
Old ideas-New Wine skins for this New Age that works across the board, fundamental to supporting and funding and investing in virtually any business today. An excellent read.
Cortese's easy-to-read, harder to put down, gem ignites readers from the Table of Contents (first stop w/ most books, followed by index and bibliography or notes, each of which are excellent): Introduction: "Cereal Milk for the Gods", and the smattering of chapter titles, "The Economics of Local," "Motherhood, Apple Pie, and Political Theater," "Blue Skies, Pipe Dreams, and the Lure of Easy Money," "Buy Local, Eat Local . . . Invest Local," "Community Capital: It takes a village, or a police force, or perhaps some farmers", and my favorite chapter: "From Brown Rice to Biofuels: Co-ops on the Cutting Edge." We've already re-defined the "Cutting Edge" to the point of . . . yet, in this context, Cortese explodes the idea of Co-ops and iterates, "This is not your father's Co-op," and she's right.
Old ideas-New Wine skins for this New Age that works across the board, fundamental to supporting and funding and investing in virtually any business today. An excellent read.
June 21, 2017
Amy Cortese's book gives the reader a comprehensive look at how one can get involved in the investment of local businesses. While it does a nice job of giving outlines and brief summaries of the different financial models and techniques investors can look into, it is not a great book for those that are already fairly financially literate and are looking for a more detailed glance at these models. Instead, Cortese uses it more as a springboard for potential investors, giving them links and access to other resources if it peaks their interests.
Cortese's writing is engaging but can sometimes feel verrrrry repetitive. Instead of focusing on giving us detailed financial information and rules, she writes more about the success stories of already established local businesses, telling us their models and what they sell. I understand why she did this: it's far less dry and more entertaining, reading more like a newspaper article than a finance book. However, I would have been much happier going into the financial nuances of it all.
Summary: A fairly entertaining book but lacks a certain amount of detail you might want.
Cortese's writing is engaging but can sometimes feel verrrrry repetitive. Instead of focusing on giving us detailed financial information and rules, she writes more about the success stories of already established local businesses, telling us their models and what they sell. I understand why she did this: it's far less dry and more entertaining, reading more like a newspaper article than a finance book. However, I would have been much happier going into the financial nuances of it all.
Summary: A fairly entertaining book but lacks a certain amount of detail you might want.
January 17, 2012
Excellent overview of various ways of investing locally. Each method is illustrated with examples of how it works, definitions, and a perspective of some of the pros and cons of the approach.
One of the best things about the book is that each chapter ends with a concise set of information on resources/next steps you can take to get involved in that particular local investing approach.
Excellent resource. I had read it on my own last summer, and now it's assigned reading for my capital markets class in the spring.
One of the best things about the book is that each chapter ends with a concise set of information on resources/next steps you can take to get involved in that particular local investing approach.
Excellent resource. I had read it on my own last summer, and now it's assigned reading for my capital markets class in the spring.
March 7, 2019
Great details for people interested in investing and the local movement. If you don't have time to read (or much money to invest) just flip through at your library! Each chapter ends with a fantastic summary of the 1) suggested action 2) ways it helps 3) resources to learn more. Not a page-turner, but certainly worth perusing.
September 6, 2012
The first part of the book laid out the case investing more in our small businesses, and the ways in which current securities regulations make that difficult. The second part of the book talks about a bunch of different efforts being made to work around that.
I like the emphasis on building not just individual businesses, but communities of mutual support. One instance is a group of cops who pooled together to buy a bakery that was going under, because they didn't want to see yet another empty storefront on their town's main street. In another case a microbrewery needed capital for expansion, and advertised the opportunity to invest on their drink labels. What better investor than a customer who knows and loves the product?
Opportunities for investing in local small businesses are presented as very much a work in progress, and the SEC as a major obstacle to overcome. You're left with the impression that their regulations have failed to keep up with advances in social technology, but also greatly favor investing in giant multinationals over small local companies.
Liked this book a lot and I'm planning to keep tabs on the Slow Money movement to see how things evolve.
I like the emphasis on building not just individual businesses, but communities of mutual support. One instance is a group of cops who pooled together to buy a bakery that was going under, because they didn't want to see yet another empty storefront on their town's main street. In another case a microbrewery needed capital for expansion, and advertised the opportunity to invest on their drink labels. What better investor than a customer who knows and loves the product?
Opportunities for investing in local small businesses are presented as very much a work in progress, and the SEC as a major obstacle to overcome. You're left with the impression that their regulations have failed to keep up with advances in social technology, but also greatly favor investing in giant multinationals over small local companies.
Liked this book a lot and I'm planning to keep tabs on the Slow Money movement to see how things evolve.
June 2, 2014
We have heard about eat local and buy local movements before. In this book the author makes a case about investing locally. She outlines some of the flaws in our current investing system (which siphons money out of communities and into national/global markets), describes how we got into these circumstances and away from our investing roots, and proposes some personal and systematic changes we can implement to get money back into our localities moving forward.
At times the financial jargon made me glaze over, but the book was at its best when describing the real life stories of small businesses across the country that found success in tapping the power of local investors. Anyone who is serious about running, starting or supporting small/local business will find this book helpful and inspiring. Those readers with a financial background will be able to better comprehend those sections of the book that were over-my-head.
At times the financial jargon made me glaze over, but the book was at its best when describing the real life stories of small businesses across the country that found success in tapping the power of local investors. Anyone who is serious about running, starting or supporting small/local business will find this book helpful and inspiring. Those readers with a financial background will be able to better comprehend those sections of the book that were over-my-head.
October 1, 2015
Amy Cortese promotes investing a portion of your money locally. Via the multiplier effect, such investments support your neighbors, are much safer for your money than you might think, and provide intangible rewards, and personal involvement with ideas or individuals that you favor.
Also, the NYSE is taking us all away from capitalizing a company that grows America. Money here is as likely to end up with Volkswagon, a derivative, Bernie Madoff, or a company exporting jobs to Mexico.
The SEC is trying to protect small investors, but becomes cumbersome and unkind to companies trying to grow in your community. Loans and co-ops are touted by Ms. Cortese. Easiest to do is to bank at a local bank which is much more likely than the bigger banks to invest in business near your home to promote local growth. What isn't helpful is banking at a bank "too big to fail". Our best investments have been real estate and a doctors' owned health insurance product. A very interesting book.
Also, the NYSE is taking us all away from capitalizing a company that grows America. Money here is as likely to end up with Volkswagon, a derivative, Bernie Madoff, or a company exporting jobs to Mexico.
The SEC is trying to protect small investors, but becomes cumbersome and unkind to companies trying to grow in your community. Loans and co-ops are touted by Ms. Cortese. Easiest to do is to bank at a local bank which is much more likely than the bigger banks to invest in business near your home to promote local growth. What isn't helpful is banking at a bank "too big to fail". Our best investments have been real estate and a doctors' owned health insurance product. A very interesting book.
September 30, 2011
While not original in thought, this book has the right information to be part of a revolution. It focuses on the idea that if you value more of a return on your investment than dividends, you should look to place your investment money in local opportunities. The book then gives some realistic, and some idealistic suggestions for those opportunities. The layout and format is very useful with full description and examples of the funding options, with a summary at the end of each chapter. I would have liked a compendium of the summaries to be offered, but that's not missed by much.
Overall, this was a useful and fun book.
Overall, this was a useful and fun book.
January 25, 2012
I would probably give this 3.5 stars if I could. It surveys a number of different financial mechanisms for local investing, and discusses the advantages and disadvantages to both investors and companies seeking capital. I learned something reading this, particularly about the challenges that small companies outside the tech sector face when raising capital.
I was a bit worried that the author would sacrifice data and detail for a sort feel-good advocacy, but in the end I thought she did a fairly good job of focusing on the practical and regulatory challenges faced by some of these new investing models.
I was a bit worried that the author would sacrifice data and detail for a sort feel-good advocacy, but in the end I thought she did a fairly good job of focusing on the practical and regulatory challenges faced by some of these new investing models.
March 28, 2012
I'm no banker or economist, but there is a lot in this book I would like to try. I got a little tired of her telling us again and again how big banks are bad, how the current stock market isn't a way for small firms (who create all jobs) to raise capital, etc. I don't think there's many of her ideas I can use now in my local area. It would be different if I lived (like she does) in Brooklyn, NY. I think community leaders, community-minded bankers, and small business owners looking to expand should read (or at least skim) this book.
March 1, 2012
Fair. The book was fair. Some of it was really good. It is mostly promoting the idea of local investing, and explaining why the traditional kind is so terrible.
I would also give it 3.5 stars if I could. I would like to see a guide that shows more of the ways that individuals can get started, explain how to do research, and give a way to keep tabs on the movements that are opening up the investment market.
I would also give it 3.5 stars if I could. I would like to see a guide that shows more of the ways that individuals can get started, explain how to do research, and give a way to keep tabs on the movements that are opening up the investment market.
January 8, 2012
This book has a great message - that of investing locally in your community. There's some great examples cited about local residents rallying to save something from extintction. However, it made me lose interest toward the end when going over IPOs. While interesting, it started to feel like I was reading a textbook.
January 16, 2012
Good quotes and statistics addressing the state of investment in America, offering fixes both long- and short-term. Author was brash, throwing unhelpful jabs and biased claims to industry standards. I found her views watering down the read, narrowing the scope of an otherwise fascinating situation in our country.
Want to read
November 15, 2016We have all heard "Think global, act local" and this book will assist in important ways. I'm reminded of an interesting statistic... Did you know that over 40% of China's pollution is caused from producing goods we consume here in the USA? That's tragic and acting locally will begin to resolve some of this.
July 20, 2011
Cortese advocates investing locally with sharp research and historical facts. Economics 101 with a punch. Read Aisle B's review
http://aisleb.tumblr.com/post/7831397...
http://aisleb.tumblr.com/post/7831397...
October 12, 2013
Locavesting is a very good read for those who "get it". I was already convinced that investing locally builds community and inspires individual dreams. Now we must convince others that it is in their best interest to do the same.
January 31, 2014
I did not read every word in this book but I do think the information in this book is helpful. The author gave a lot of examples of locally organized funding organizations. It would take more investigation to figure out what can one do in his/her community.
May 8, 2012
Getting a little dated now but still a great read with innovative ideas.
August 12, 2012
Great information if you are looking to invest or start a business locally.
May 26, 2014
Kitabı yazmak yerine bu konuda bir belgesel çekilseymiş daha güzel olabilirmiş...
January 18, 2016
Not as tangible to my work as I'd like, but really interesting info on local economies and different ways to think about how to invest and encourage investing in our community.
August 27, 2016
Community, capital fundraising, and microeconomics. A great read.
October 9, 2011
Couldn't get into it, though I thought I "should."
Displaying 1 - 24 of 24 reviews