Eavesdropping on Millionaires: Secrets of the World's Wealthiest Investors

by John Mauldin, Tiffani Mauldin

'Evesdropping on Millionaires' offers individual investors an opportunity to learn directly from the world's best.

Genres: Business

208 pages, Hardcover

First published July 7, 2009

About the author

John Mauldin is a renowned financial expert, a best-selling author, and a pioneering online economic commentator. His weekly e-newsletter, Thoughts From The Frontline, was one of the first publications to provide investors with free, unbiased information. Today, it is one of the most widely distributed investment newsletters in the world, translated into many languages. He is also the President of Millennium Wave Investments.

Reviews

[Isabel · Rating 3 out of 5]

Real life interviews from real life millionaires. They’re real people with highs and lows, even losing all their money but gaining it back by playing the long game in the market. This book is not a how-to-get-rich because the vast majority of these millionaire interviewees came from wealth, getting their starts by joining their fathers’ businesses. Classic

Growing up, I saw wealth as one-dimensional. When I think wealth, I think business. Brick and mortar stores, banks, the traditional stuff. But there’s Gordon making first aid kits, Richard with his air conditioning widget add-on, and Lincoln with his clay pot business.

And when I think money, I think jobs. But passive income is key. There’s George making millions from his forever stocks: Bell Atlantic (now Verizon), Exxon, and Chevron. There’s Tom making bank from his first company’s IRA match at a whopping 8%.

I liked Gordon, George, and Tom the most.

Gordon showed perseverance. When the recession hit and property values plummeted, the $1 million he put into his house was gone. YIKES. But 6 more years later… Gordon’s net worth jumped to $50 million thanks to a boost in first aid kit sales.

George and his daughter — comedy at its finest. He chastised his daughter crying over her hybrid college model saying, “you know, honey, these are rich white girls’ problems.” To this she replied, “but I am a rich, white girl” and left her father speechless.

Tom is a savage. When his lawyer asked how much he wanted to leave to his children, Tom replied, “nothing.”

Ultimately, a fun sweeping read investigating the twists and turns of modern day millionaires.

[Lily Gerloff · Rating 5 out of 5]

This is one of my favorite business books i have read. It’s an ideal read for today’s market volatility and uncertainty. Main takeaways include portfolio diversification, don’t give up, don’t be afraid of economic downturns and market uncertainty especially as a young person. It’s incredibly valuable to hear about these people’s pre 2008 and post 2008 experiences, and listen in on their reflection on the choices they have made. Thanks for sharing these interviews.

[Dai Lo · Rating 3 out of 5]

hardcover from library.
basically lists 10 case studies of individuals with over a million dollars.
interesting that they interviewed the same people three times over 12 years...
the individuals have mindsets that I would expect.... nothing crazy from left field...

[David Rosage · Rating 3 out of 5]

Interesting stories but not enough useful lessons to apply to my life.