Bobby Monks & Justin Jaffe
Co-authors of Uninvested
Discussion
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Bobby Monks
@monksbobby · Author of Uninvested & Entrepreneur
We are the co-authors of Uninvested: How Wall Street Hijacks Your Money and How to Fight Back, published by Penguin Random House in August.
Hi all, Bobby here, I'm an investor and serial entrepreneur who has founded, led, and grown many businesses in the financial services, real estate, media, and technology sectors. I am also the chairman of Spinnaker Trust, managing over $1 billion in assets; chairman of Institutional Shareholder Services, the leading provider of corporate governance and proxy services; and founder and director of Atlantic Bank.
Hi Everyone, Justin here too! I'm also an investor, writer, researcher, and entrepreneur. I'm also the cofounder of Rapport.IO, a sustainability software platform, and in a previous life was a journalist for CNET and Wired.
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Alex Carter
@alexcartaz · Operations @ 60dB. Ex-PH Podcasts 😻
In your ideal world, what does the future of personal finance and investing look like in 15 years?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@alexcartaz A system where power has been restored to investors. Where investors are way more engaged with their investing. And where the largest share of the benefits (and power) of investing is helds in the hands of the investor instead of the middleman.
Nicki Friis
@nickifriisw · Ideanote
@monksbobby Hey Bobby, why is focusing on customer experience a good idea?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@nickifriisw Interesting question. Most big box financial services companies and money managers don't do a great job with customer experience. They charge fees that aren't clearly explained -- and that come out of investors' pockets whether or not they are getting good returns.
Emily Hodgins
@ems_hodge · Community and Marketing, Product Hunt
Hi Bobby and Justin. What was the hardest thing about writing the book? How did you over come these hurdles?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@ems_hodge Given that we were writing about a subject that has the potential to make some peoples' eyes glaze over, we needed to make it accessible and engaging. That was a challenge.
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@jeffumbro · Book Marketing and PR - get in touch
This one is for Justin. What were the biggest differences between CNET and Wired during your tenure at both?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@jeffumbro My work at CNET was dedicated to looking at products. My work at Wired was dedicated to looking at technology in a broader sense.
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@russfrushtick Really, I have been an investor since I opened my first retirement account as a young employee. Part of our mission here is to convince mainstream investors -- including anyone with a 401k or mutual fund -- that THEY are investors.
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@jeffumbro · Book Marketing and PR - get in touch
How does Wall Street hijack my money and how can I fight back?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@jeffumbro The first step in fighting back is to ask a lot of questions. Talk to your money manager about fees, conflicts of interest, and compensation. Ask them if they invest in the products they’ve sold to you. Starting a dialogue with your money manager is the first step toward regaining control and, ultimately, saving money you might have otherwise forfeited through paying high fees.
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@jeffumbro · Book Marketing and PR - get in touch
@justinjaffeny What if you don't have a money manager?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@jeffumbro Assuming you have money in the market in some format, it would mean reaching out to whoever administrates or manages that process -- could be a big box financial services corp, 401k administrator at work, etc.
Jake Crump
@jakecrump · Community Team with Product Hunt
What about the response to Uninvested has most suprised you?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@jakecrump It's been surprising how few people have disagreed with our basic argument -- that the financial industry is systematically taking advantage of investors. Even people within the industry have agreed (violently) with this notion.
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@jeffumbro · Book Marketing and PR - get in touch
What are your thoughts on bitcoin?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@jeffumbro Don't know enough to have an informed opinion, but am generally in favor of technologies that reduce the power and control of large financial institutions that do not act in the best interests of their customers/investors.
Erik Torenberg
@eriktorenberg · Former Product Hunt
What critique of the book have you been most sympathetic to?
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Justin Jaffe
@justinjaffeny · Co-Author of Uninvested
@eriktorenberg Haven't seen too many critical comments. The facts in the book are facts.