06/06/2022
Seessel, founder of Gravity Capital Management, debuts with a helpful take on playing the stock market. “The American stock market has been the best place to build wealth over the last one hundred years,” he writes, and, thus, “if you believe that the United States will continue to grow and prosper, you should own a piece of that action.” Seessel urges value investors, who he cheerily calls “notorious cheapskates who hate to pay a high price for an investment,” to focus their attention on the digital economy “not because tech is sexy... or beneficial to society, for the same reason Willie Sutton robbed banks: it’s where the money is.” He provides a brief history of value investing, from Ben Graham’s approach to that of Warren Buffett, and outlines what he deems a new period of transition as digital outpaces every other sector. He suggests newbies “look at the data and be rational” in deciding where to put their money, and emphasizes avoiding the investing “gamification” happening on such apps as Robinhood. Would-be investors struggling to understand a financial landscape in which FAANG has left GE in the dust will want to check this out. Agent: Jennifer Joel, ICM. (May)