Reference

Index

How to Get Rich in American History辅助资料本页已读 0%

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Ace of Base, 21
Adams, Abigail, 106–7
Adams, Henry, 233
Adams, John, 106–7, 162
Adamson, Margaret, 105
Advice to a Young Tradesman (Franklin), 36, 206
African Americans:
Fast Time / Slow Time and, 20–21
financial underperformance, 180
Freedman’s Bank, 199, 281
generational wealth and, 251
homeownership and, 218
house hacking / boarders and, 152–53
Jazz Age Harlem and, 145–46
slavery / enslaved people, 12, 26, 28, 35, 54, 66, 199
Afterpay, 204– 5
AI (artificial intelligence), 71, 100
Airbnb.com, 154, 159
alcohol, 199, 225, 242
Alger, Horatio, 266–68, 275
Alice in Wonderland (Carroll), 75
Alien Land Laws, 174
Amazon.com, 58–59, 68, 115, 255– 56
The American Agriculturalist,182– 83
The American Business Woman,36, 106
American Dream, 16, 80, 136, 189–90, 266, 272, 275
American Express, 188
The American Frugal Housewife (L. Child), 66, 197
American Medical Association (AMA), 271–72
American Revolution, 107, 143–45, 196, 224, 267
Amory, Jonathon, 228
Anderson, Richard, 209, 210
angel investors, 63– 64
annuities, 44, 51, 165–66, 170, 282, 293–94, see also Social Security
anti-consumerism, 130, 131–33, 138, 197– 98
Anti-Rent Movement, 145
Apple, 70–71, 115
Appleseed, Johnny, 141
Apple Stocks app, 94–95
apprenticeship programs, 101, 237, 246, 256– 57
Asian Americans, 171, 172–75, 178, 218
financial overperformance, 174, 180
generational wealth and, 251
Asian financial crisis (1997), 95
AskJeeves, 69
AT&T, 107–8, 285
Austen, Jane, 55, 105
Avon, 155–56

Baby Boomers, 76, 137, 148, 270, 278, 287
BackRub (later Google), 69
back-to-the-landers, 132–35
Bankman-Fried, Sam, 100
Bank of England, 104
bankruptcy, 224–34
bankruptcy laws, 14, 20, 86, 186–87, 210, 224–25, 291
bouncing back from, 225, 226, 231–32, 233–34
Cattle Kings and, 229–30
cohort of 1842–43, 227
debt / leverage and, 228
foreclosure investments, 20–21
importance of credit and, 228–29
overspending and, 227
overtrusting and, 229
Panic of 1837, 226, 227
small business and, 227, 228, 231–32
stress and, 224–25, 232–33
of Supreme Court Justice, 224–25
undercapitalization and, 231–32, 233
banks:
Bank of England, female share ownership, 104
early bankers as immoral, 34
early currency and, 28, 30
First Women’s Bank of New York, 110
Freedman’s Bank, 199, 281
scams and, 110
Second Bank of the United States failure, 115
women-only, 110
Barnum, P. T., 253–54
The Art of Money Getting speech, 84
Basinger, Kim, 19–20, 21
Beardstown Ladies of Illinois, 94
beating the market, 89–102
“Cramer Bounce” and, 89–90
Efficient Market Hypothesis (EMH) and, 93–96
as rare event, 100–102
short selling and, 6, 90–91
skepticism concerning, 92–94
technical analysis, 41, 97–98
value investing, 96–97, 98–100, 107
behavioral economics, 41
Bell, Alexander Graham, 285
Berkshire Hathaway, 23, 99, 115
Better Homes & Gardens magazine, 217
Bezos, Jeff, 58–59
Bierbrier, Doreen, 154
BiggerPockets.com, 151
The Big Short (2015 film), 292
Big Woe / Despair Industrial Complex, 265–66, 270, 276, 296
billiards, 87
Billionairely, 54
Birkey, Cordwainer Henry, 151
birth control, 241
The Birth of a Nation (1915 film), 160–61
Bitcoin, 25, 31–33, 53–54
Black Americans, see African Americans
BlackBerry, 70, 71
Black Plague, 34
black-swan events, 16, 95–96
Blakely, Sara, 207
Blunt, Charles, 82–83, 88
B&M Blue Trading Stamp, 186–87
boarders, see house hacking
Bohun, Edward, 256–57
Bolívar, Símon, 182
bond market:
feme covert / feme sole laws, 104–5, 106
as form of gambling, 106
inflation and, 39–40
interest payments, 77–78, 105, 110, 137, 221
Liberty Bonds, 39–40
origins in Exchange Alley (London), 104
price relationship to yield, 122
stock market vs., 39–40, 41, 115, 122
women investors in, 106–8, 109
Borsodi, Ralph, Flight from the City, 133–34
Bostwick, Salmon, 157–58
Boyle, Ruth, 108
Braselton, Georgia, 19–20, 21
Brown, William Wells, 26, 28, 54
Browne, Harry, 47
Brunswick Company, 87
bucket shops, 15, 37–38, 114–15, 291
budgets / budgeting, 15, 193–201
Complexity Keepers vs. Simplicity Savers, 194–95, 200–201, 294
financial independence and, 129, 139
gender and, 195–97
housewife manuals and, 36, 196, 197
inflation and, 40
as modern tool, 194–95
optimism and, 199–200
spending plans and, 197–200
Buffett, Warren, 23, 76–77, 85, 97–100, 107, 280
Buretel, Elizabeth, 105
business cycle, 116–17

California Perfume Company, 155–56
canals, 64–65, 71, 215
capitalism, 213–23
bankruptcy and, 230–32
culture and, 213
Despair Industrial Complex of academics / Big Woe and, 265–69, 270, 276, 296
diversification and, 83
Du Bois and, 145–46
Fast Time / Slow Time and, 214, 220–21
Go Ahead! approach and, 1–2, 7, 35, 278–79
government challenges and, 218–20
government supports for, 213, 215–18
immigrants and, 152–54, 171–79
impact of, 35
increase in personal income and, 268–72, 283
principles of, 213–14
real estate and, 145–46, 147
socialism vs., 263–65, 268–72
Thoreau and, 131–32
women and, 35–36, 104, 110–11, see also women investors
Carnegie, Andrew, 46, 56, 85
Carnegie Steel, 56
Carpenter, Alice, 109
Carroll, Lewis, Alice in Wonderland, 75
Cashflow (board game), 48
Cashing In on the American Dream (Terhorst), 136
Central Pacific Railroad / Stanford U, 285
Certified Financial Planners (CFPs), 47
Charleston, South Carolina mortgage market, 103, 104–5, 110–11, 291
chartists, 97–98
Chateau Elan (Atlanta winery and resort), 20
ChatGPT, 100
Chetty, Raj, 273
Chicago:
Chicago Board of Trade, 208
fire of 1871, 37
chickens, as side hustle, 155
Child, David, 65–66
Child, Lydia Maria, 65–66
The American Frugal Housewife, 66, 197
children:
dowries and, 236–38, 246, 257
financial literacy and, 255–57, 290–91
investing in, 290
see also education; generational wealth
Chinese Exclusion Act (1882) repeals, 174
Chinese herbs, 151
Choi, James, 43–44
Chopra, Felix, 50
A Christmas Carol (Dickens), 183
Civil War, 28–29, 80, 103, 130, 131, 181, 183, 206, 267
The Clansman (Dixon), 153–54
Clark & Co. Claims Adjusters, 183
Clinton, Bill, 116
college education, 14, 71, 174, 216, 246, 265–68
land-grant colleges, 216
student loans, 202–3, 207, 220, 282, 290–91
College for Financial Planning, 47
Collender, Hugh, 87
Common Stocks as Long Term Investments (Smith), 41
communism:
poverty and, 269
union strikes and, 263–65
The Communist Manifesto (Marx and Engels), 264
compound interest, 73–77
adding value to land, 75–76
contradiction with passive income, 74
never interrupting unnecessarily, 77, 281
overreliance on, 281
see also interest payments
computers, budgeting and, 195
concentration, as basis of diversification, 83, 85, 86–87, 281, 290
consumer advocacy, 48–49
Consumer Credit Protection Act (1968), 217
Consumer Financial Protection Bureau (CFPB), 275
Consumer Goods Pricing Act (1975), 218
consumer protection, 217
Consumer Reports magazine, 49
container shipping, 22–23
contrarianism, 45, 90–91, 97, 131
Cooper, James Fenimore, Last of the Mohicans, 257
Cooper, William, 252–53, 257
co-signing loans, 290–91
coverture laws, 104–5, 106, 196
Covid-19, 40, 97, 280
Cowen, Tyler, 12
Cowles, Alfred, 92
Cracker Barrel, 39
Cramer, Jim, 6, 139
Mad Money (TV program), 89–90, 91–92
credit, see debt / leverage
credit cards, reward programs, 185, 187–89
credit reports / credit agencies, 196, 231
Crockett, Davy, 254
cryptocurrency, 25–33, 86, 139
as asset vs. money, 31, 32–33
Bitcoin, 25, 31–33, 53–54
Fast Time / Slow Time and, 31–33
FTX crypto exchange, 100
nature of, 25
net worth and, 53–54, 60
NFTs (non-fungible tokens), 32, 53–54, 70
origins of, 32
value of, 33
currency:
changing values of, 27–29
early banks and, 28, 30
early forms of, 26–32
Fast Time / Slow Time and, 30–32
greenbacks, 30–32, 205
U.S. official currency impact on savings, 30
see also cryptocurrency
Custis, Martha, 235–36

Dayton, John, 231–32
death:
life expectancy and, 15, 76
net worth and, 55, 57–58
debt / leverage, 202–12
bankruptcy and, 228, see also bankruptcy
borrowing carefully, 294–95
co-signing loans, 290–91
credit card reward programs, 185, 187–89
credit reports / credit agencies and, 196, 231
debtors’ prisons, 13, 14, 226, 232
as evil, 202–5
importance of credit, 204–9, 210, 228–29
net worth and, 55–56
real estate and, 147, 202, 211–12, 224–25, 232–34, see also mortgages
regulation of, 217
small business and, 206–7
stress and, 209–10
student loans, 202–3, 207, 220, 282, 290–91
types of debt, 210
in value-added investing, 80–81
in value investing, 98–99
see also bond market
depreciation, 221–22
Despair Industrial Complex / Big Woe, 265–69, 270, 276, 296
d’Harriette, Martha, 105
Dickens, Charles, A Christmas Carol, 183
Discover Card, 187
Dismal Swamp, 281
diversification, 82–88
concentration as basis of, 83, 85, 86–87, 281, 290
human capital and, 83
limitation as basis of, 83–86
limitation-concentration-diversification order and, 83–88, 158–59, 290
need for, 82–83, 85–88
out of order, 157–59
dividends, 44, 65, 77–78, 112–13, 119–20, 125–26
divorce, 238, 244–46, 248, 258, 259
Dixon, Thomas, Jr., The Clansman, 153–54
Dogecoin, 25
dollar cost averaging, 125
Dominguez, Joe, Your Money or Your Life (with Robin), 136, 137
Douglass, Frederick, 35
Dow, Charles, 41, 117, 122
Dow Jones Index / Dow Jones Industrial Average, 41, 113, 117, 119, 122
dowries, 236–38, 246, 257
Du Bois, W. E. B., 145–46
Dunton, Loren, 47

East India Trading Company, 104, 119
eBay, 203
education:
apprenticeship programs, 101, 237, 246, 256–57
college, 14, 71, 174, 202, 216, 246, 265–68
financial literacy, 255–57, 290–91
high school, 14
investing in, 290
learning from failure, 292
online, 69–70, 71
student loans, 202–3, 207, 220, 282, 290–91
Efficient Market Hypothesis (EMH), 93–96
ego, net worth and, 55–56
Eisenhower, Dwight, 216, 283–84
Elizabeth I (England), 184
Emerson, Ralph Waldo, 132
Engels, Friedrich, The Communist Manifesto (with Marx), 264
English Poor Laws, 164–65
EntreLeadership, 207
Equal Credit Opportunity Act (1974), 217
Erie Canal, 64–65, 215
ETFs (exchange-traded funds), 120–21
Ethereum, 54
E*TRADE, 91, 118–19
Etsy, 158
Exchange Alley (London), 104
Exodusters, 287

Facebook, 115
failure, learning from, 292
Fair Credit Reporting Act (1970), 217
Fair Debt Collection Practices Act (1977), 217
farming:
agriculture as next big thing, 66, 75–76, 83, 133–34
back-to-the-landers, 132–35
credit and, 207
farm improvement and, 35
farm land and, 100, 251
homesteading, 134–35, 254–55
retirement and, 162
sugar beet, 65–66, 71
Fartcoin, 32
Fast Time / Slow Time, 18–24
assumptions and, 279–80
bankruptcy and, 233–34
in Braselton, Georgia, 19–20, 21
capitalism and, 214, 220–21
cryptocurrency and, 31–33
currency in, 30–32
defining, 18
distinction between, 21–24, 31
financial history and, 21–24, 280
generational wealth and, 259
government and, 220–21
Great Depression and, 20–21
Great Recession / financial crisis of 2008 and, 284
money in, 29–30, 31
Next Big Thing and, 63–72
in reading history, 21–24
risk and, 295–96
saving and, 29–30, 31
stock market and, 113, 121, 293
strategic uses of, 283–84
taxes and, 222–23
as volatility changes, 30–32
“Fear-Setting” (Ferris), 17
Federal Deposit Insurance Corporation (FDIC), 213
Federal Reserve Bank, 270
Ferris, Tim, 17
FHA (Federal Housing Administration), 106, 151
fiduciaries, 117–18
FI / FI-ers, 136 50
Cent, 225
financial advice, 34–42
of academic professionals vs. popular gurus, 5, 43–52, 89–90, 91–92, 285
basic steps, 38–39
Certified Financial Planners (CFPs), 47
compound interest in, 73–77
concentration and, 83, 85, 86–87, 158–59, 290
diversification in, 82–88
early retirement and, see financial independence
inflation and, 39, 40, 41–42
insurance and, 36–37, 38
investment guides, 37–38, 40–41, 79
limitation and focus, 85, 86
origins of financial planning, 47
passive income in, 73–74, 77–79
past vs. present, 25, 34–42
predictions and, 280
saving and, 38, 50
women investors and, 105, 108
see also budgets / budgeting; improvement culture
financial history, 277–96
author interest in, 4–6
danger of immersive research and, 6
Fast Time / Slow time in, 21–24, 280, see also Fast Time / Slow Time
Go Ahead! approach, see Go Ahead! approach
strategies that did not work, 279–83
strategies that worked, 283–96
time and, see Fast Time / Slow Time
United States in, 11–17
financial independence (FI), 129–39
back-to-the-landers, 132–35
budgeting and, 129, 139
financial independence and retire late (FIRL), 163
Financial Independence Retire Early (FIRE) Movement, 41, 105–6, 129–31, 135–36, 137–38, 289
financially independent, retired early (FI / RE), 136–37
FIRE bloggers, 137–38
freedom from work, 135–36
homesteading, 134–35, 254–55
“loafers” / flaneurs (thoughtful men) and, 131–32
as pecuniary independence in early days, 130–31
ultraism and, 131, 132–33
upward mobility and history, 272–74
Financial Independence at Fifty (Villiers), 41, 135
First Women’s Bank of New York, 110
Flagler, Henry, 285
Flight from the City (Borsodi), 133–34
Florida vacation homes, 67–68
Ford, Gerald, 268–69
Ford, Henry, 206
foreclosure investments, 20–21
forest fuel, 70
401(k) retirement plans, 77, 118, 120, 125–26, 166–68, 170, 289
France, investment bubble (1700s), 55
Franklin, Benjamin, 1, 48, 79, 133
Advice to a Young Tradesman, 36, 206
debt and, 204–6, 209, 210
on marrying for money, 236
Way to Wealth, 204–6
Frazer, Elizabeth, 108
Frederick Christine, 194–95
Freedman’s Bank, 199, 281
Friedan, Betty, 110, 242
frugality, 66, 172–77, 197, 247, 251, 253
FTX (crypto exchange), 100
Fuller, Ida, 164

Galloway, Scott, 285
Gallup, 169
gambling:
lotteries as, 184–85
stock and bond markets as, 106, 115–16
Gastonia, North Carolina, 263–64, 266, 269
Gates, Bill, 87, 100, 206
gender:
budgeting and, 195–97
capitalism and, 35–36, 104, 110–11
coverture laws, 104–5, 106, 196
roles in marriage and, 106–7, 195–97, 230, 247–48
roles in small business and, 196, 230
teen pregnancy, 13
see also marriage; women investors
General Motors (GM), 205, 269
generational wealth, 249–59
critical flaw of, 252–55, 290
early Americans and, 250–51
financial literacy and, 255–57, 290
frugality and, 251, 253, 290
immigrants and, 251, 253
legacy of competence as, 258–59
as marketing concept, 252
real estate and, 251, 254–55
upward mobility and, 255–57
windfalls and, 250, 253, 258–59
Gen X, 77, 101, 137
Gen Y (Millennials), 77, 101, 148
Gen Z, 77, 284
geoarbitrage, 14–15, 136, 287
gig economy / side hustles, 150–59
Airbnb.com, 154, 159
chickens, 155
diversification out of order and, 157–59
house hacking / boarders, 150–55, 159, 196, 286–87
palm-leaf hats, 155
part-time jobs, 137, 157, 158, 159, 163, 240, 288
small business, 155–56, see also small business
smart use of, 286
Uber, 155
Gilded Age, 5, 115, 175, 212, 267
The Gilded Age (Twain), 212
Girard, Stephen, 206
GitHub, 54
Go Ahead! Approach:
capitalism and, 1–2, 7, 35, 278–79
Fast Time / Slow Time and, 283–84
optimism and, 1–2, 7, 35, 278–79
gold:
as backing for money, 27
goldbugs and, 41, 47, 51
gold-mine investments, 38
as money, 27, 30
San Francisco gold rush, 143, 172–73
Goldman Sachs, 37
Good Housekeeping magazine, 105, 108, 155, 194–95, 227
Google, 68–69, 115, 214, 248
Gordon, William, 176–77
Graham, Benjamin, The Intelligent Investor, 96–97, 99–100, 107
Graham, Sylvester, 131
Grant, U. S., 87
Great Crash (1929), 41, 42, 109, 112, 113, 185, 249–50, 280
Great Depression, 14, 20–21, 42, 108, 109, 133–34, 163, 217, 249–50, 267, 269, 280, 284
Great Recession / financial crisis of 2008, 112
Fast Time / Slow Time and, 284
home ownership and, 4–5, 42, 59, 149, 202–3, 211–12
Green, Frances Harriet, Housekeepers’ Book, 36, 197
greenbacks, 30–32, 205
Greene, Hetty, 253
Griffith, D. W., 160–61
Griffith, Melanie, 108–9
grit, 179
groupthink, 93
guaranteed returns, 281
Guthrie, Woody, 21

Hamilton, Alexander, 224, 267
Hamilton, Peter, 117
Harper’s Magazine, 130–31
Harvard Graduates Magazine, 229
Harvard University, 83, 229–30
healthcare costs, 270, 271–72
Hemingway, Ernest, 277
Hewlett-Packard, 284
highways, 216
Hill, Napoleon, Think and Grow Rich, 46–47, 49
home economics, 194–95
home ownership:
cost of land and, 270–71
down payment and, 147, 153, 158, 208–9, 224, 246
financial advice and, 38
Great Recession / financial crisis of 2008 and, 4–5, 42, 59, 149, 202–3, 211–12
home prices and, 142–43
house hacking, 150–55, 159, 196, 286–87
housing shortages, 219–20, 270–71
immigrants and, 172, 173, 174, 247
legislative changes and, 218
net worth and personal residence, 58
retirement and, 168
1031 exchanges of real property, 81, 222–23
wealth and, 220
see also mortgages
homesteading, 134–35, 254–55
Honeywell, 195
Horatio Alger myth, 266–68, 275
house hacking / boarders, 150–55, 159, 196, 286–87
Housekeeper’s Book (Green), 36, 197
Housel, Morgan, 76, 285
housewife manuals, 35–36, 55–56, 66, 105, 196, 197
Howard, Clark, 48–49, 51, 285
Howe, Sarah, 110
Howland, Gideon, 254
How to Lose Your Money Prudently (Kelly), 92
How Women Can Make Money in the Stock Market (Moore), 109
Huber, Nick, The Sweaty Startup, 288
human capital, 59–60, 75–76, 79–81, 83
humbugs, 182–83

IBM, 48
immigration / immigrants, 171–79
from Asia, 171, 172–75, 178, 180, 218, 251
capitalism and, 152–54, 171–79
Cattle Kings and, 229–30
early currency values and, 29
from Europe, 87, 175–78
frugality and, 172–77, 247, 251
generational wealth and, 251, 253
home ownership and, 172, 173, 174, 247
house hacking / boarders and, 152–54
importance of mobility and, 14–15, 177–79, 255
saving and, 172–77, 247
small business and, 87, 174, 175, 178
from South America, 178
Thoreau and, 132
underconsumption and, 175
upward mobility and, 274
wealth and, 171–72, 173–74, 251, 253
0–1 visas (Individuals with Extraordinary Ability), 12
improvement culture, 35–38
farming and, 35
housewife manuals, 35–36, 55–56, 66, 105, 196, 197
investment guides and, 37–38, 40–41, 79
for men, 36
as prequel to financial advice, 35–38, see also financial advice
safety and, 36–37
self-improvement and, 41–42
income:
historic increase in personal, 268–72, 283
marriage and dual incomes, 173–74, 240, 241, 243–47, 248, 283, 285–86
from real estate, see passive income
taxes and, see taxes
indentured servants, 12
index funds, 42, 92, 113, 118, 120–21, 126, 198–99, 217
Industrial Revolution, 70
inflation:
at 0 percent, 78
adjusting for, 270
bond vs. stock market and, 39–40
financial advice and, 39, 40, 41–42
mortgages and, 207–9
post–World War I increase in, 39–40, 41, 78, 116
price controls and, 218–19
real estate prices and, 142–43
trading stamp, 187
insider trading, 94
Instagram, 134, 137
insurance:
accident insurance, 37, 38, 293
annuities, 44, 51, 165–66, 170, 282, 293–94
financial advice and, 36–37, 38
fire insurance, 37, 38, 293
healthcare costs and, 270, 271–72
life insurance, 37, 38, 293
safety and, 36–37
The Intelligent Investor (Graham), 96–97, 99–100, 107
interest payments, 77–78, 105, 110, 137, 221, see also compound interest
Interstate Highway System, 216
investment clubs, 94, 111
investment guides, 37–38, 40–41, 79
Investment Pentecost, 40
investment trusts, 217
Irish Famine, 87

Jackson, Andrew, 67, 115
Jackson, Michael, 119
Jazz Age Harlem, 146
Jeake, Samuel, 93–94
Jefferson, Thomas, 215
Jenkins, George, 157
Jevons, William, 116., 117
Jewish Americans, 171, 175
Jim Crow, 20–21
Jobs, Steve, 70–71
Johns Hopkins University, 163
Jones, Paul Tudor, 97
Josselin, Ralph, 257
The Journal of Finance, 117
JP Morgan Chase, 101
Judd, Sylvester, 130, 136
Juglar, Clément, 116

Kay, Mary, 157
Kelly, Fred, How to Lose Your Money Prudently, 92
Kennedy, John F. ( JFK), 47, 148
Keynes, John Maynard, 78
King, Martin Luther, Jr., 145–46
Kiyosaki, Robert, 51
Cashflow (board game), 48
Rich Dad, Poor Dad, 5, 48, 49
Klarna, 204–5
Korean War, 174
Kozmo.com, 68
Ku Klux Klan, 153–54

Ladies’ Home Journal, 108
land:
adding value to, 75–76
Alien Land Laws, 174
as backing for money, 27
housing costs and, 270–71
investment in, 27
Land Act (1800), 215
Lunar Registry, 141–42
ownership of, 27, 34, 100
speculation in, 67–68
value of, 142
see also farming; home ownership; real estate
land-grant colleges, 216
Last of the Mohicans (Cooper), 257
laundry:
Chinese businesses, 174
washing machines, 241, 242–43
The Law of Financial Success (1907 booklet), 37–38
Leeds, Henry, 228
leverage, see debt / leverage
Levy, Eugene, 20
Lewis, C. S., The Lion, The Witch, and The Wardrobe, 265
Liberty Bonds, 39–40
life expectancy, 15, 76
The Lion, The Witch, and The Wardrobe (Lewis), 265
Living the Good Life (Nearing and Nearing), 134
Loray Mill Strike (1929), 263–64
Lord, Isabel Ely, 165
lotteries, 184–85
Louisiana Purchase (1803), 215
loyalty programs, 185–89
Lunar Registry, 141–42

MacArthur, Douglas, 249
Macgregor, George, 182
Mad Money (TV program), 89–90, 91–92
Madoff, Bernie, 38, 183
The Magazine of Wall Street, 135
Malkiel, Burton, 92–93
Malone, Annie, 156
margin accounts, 90–91, 114
Marginal Revolution, 285
market capitalization, 58–59
Markowitz, Harry, 117
marriage, 235–48
benefits of, 14, 235–36, 285
birth control and, 241
companionate, 237–38
divorce and, 238, 244–46, 248, 258, 259
dowries and, 236–38, 246, 257
dual incomes and, 173–74, 240, 241, 243–47, 248, 283, 285–86
as a financial arrangement, 235–47, 285
gender roles and, 106–7, 195–97, 230, 247–48
poverty and, 245–46
same-sex, 245
small business and, 227, 236–37, 238–41, 247–48
value of work at home, 240–43, 247
wedding cost and, 237–38
Marx, Karl, 265
The Communist Manifesto (with Engels), 264
Mastercard, 185
Mather, Cotton, 206
Maw Maw (grandmother of author), 3–4, 242–43, 249–50, 258–59
McBride, Bill, 285
McDonald’s, 71, 76–77
McGhee, Norman, 20–21
McGwire, Mark, 116, 165
McKinley, William, 225, 229
Meredith, Elizabeth, 196, 247–48
Merrill Lynch, 108, 109
Messi, Lionel, 164
Microsoft, 63, 69, 87, 115
middle class:
Asian, 174
house hacking and, 152–54
Social Security and, 169
Millennials, see Gen Y
The Millionaire Next Door (Stanley), 252
Milne, A. A., Winnie the Pooh, 296
mining company stock scams, 183
Mississippi River, 215, 216
mistakes, learning from, 292
mobility, see moving / mobility
Modern Monetary Theory, 30
modern portfolio theory, 117
Mohtashami, Logan, 285
money:
assets vs., 32–33
backing for, 27
Fast Time / Slow Time and, 29–30, 31
see also cryptocurrency; currency
Monroe, James, 209
Montgomery Ward, 279–80
Moore, Colleen, How Women Can Make Money in the Stock Market, 109
morality, 1, 3–4, 34, 267
Morrill Acts (1862 and 1890), 216
Morris, Ed, Ten Acres Enough, 133
mortgages:
borrowing carefully and, 294
house hacking and, 151–53
importance of, 207–9
inflation and, 207–9
refinancing, 208
women as mortgage lenders, 103, 104–6, 110–11, 291
Motley Fool, 136–37
moving / mobility:
geoarbitrage and, 14–15, 136, 287
importance of, 14–16, 177–79, 255
see also upward mobility
multilevel marketing (MLM), 156–57
Munger, Charlie, 77
Murrell, Jeffrey, 254–55
Murrell, Zipah, 254–55
Musk, Elon, 87
mutual funds, 6, 47, 93
index funds, 42, 92, 113, 118, 120–21, 126, 198–99, 217

NAACP, 145
Nakamoto, Satoshi, 32
Napoleon, 39, 65–66, 283–84
National Textile Workers Union, 264
Nearing Scott and Helen, Living the Good Life, 134
Neeleman, Hannah, 134
Nelson, Willy, 225
net worth, 53–60
as accounting term, 56
augmented wealth and, 57
calculating, 57–58
cryptocurrency and, 53–54, 60
death and, 55, 57–58
housewife manuals and, 55–56
human capital vs., 59–60
importance of, 53, 55–56, 58–60
as measure for personal wealth, 56–57, 59–60
millionaire, as term, 55
as term, 55, 56–57
New Deal, 160, 161, 163–64, 219
Newton, Isaac, 70
New York City:
Anti-Rent Movement, 145
house hacking / boarders and, 152, 153
real estate and Jazz Age Harlem, 145–46
The New Yorker, 13
New York Stock Exchange (NYSE), 109, 118
The New York Times, 163, 167, 180, 198
Next Big Thing, 63–72
agriculture, 66, 75–76, 83, 133–34
AI (artificial intelligence), 71, 100
angel investors and, 63–64
Apple, 70–71
beating the markets, 98–102
Blackberry, 71
canals, 64–65, 71, 215
Florida vacation homes, 67–68
forest fuel, 70
Microsoft, 63, 69
online education, 69–70, 71
railroads, 65, 71
same-day delivery, 68, 71
search engines, 68–69
shale oil, 67, 71
social media streaming, 72
spotting, 63
sugar beets, 65–66, 71
toll roads, 65
NFTs (non-fungible tokens), 32, 53–54, 70
Nigerian / Spanish Prince scam, 180–81, 189
1984 (Orwell), 220
North Dakota, tax on trading stamp companies, 188–89
Northern Pacific Railway, 229, 281
Nutrilite, 156
Nvidia, 115

oil and gas industry, 67, 71, 285
online education, 69–70, 71
OnlineU, 71
optimism, 263–76
Horatio Alger and, 266–68, 275
American Dream and, 16, 80, 136, 189–90, 266, 272, 275
beliefs and, 275–76
budgeting and, 199–200
capitalism vs. socialism and, 263–65, 268–72
Despair Industrial Complex of academics / Big Woe vs., 265–69, 270, 276, 296
Go Ahead! American story and, 1–2, 7, 35, 278–79
increase in personal income and, 268–72, 283
rejecting pessimism, 296
upward mobility and, 272–74
Orman, Suzy, 48, 51, 105
Orwell, George, 1984, 220

palm-leaf hats, as side hustle, 155
Panic of 1837, 115, 226, 227, 239
part-time jobs, 137, 157, 158, 159, 163, 240, 288
passive income, 73–74, 77–79
contradiction with compound interest, 74
from real estate, 38, 77–78, 81, 147–48, 211–12
as successful speculation, 78
value-added investing and, 75–76, 79–81
Paw Paw (grandfather of author), 220, 241–43, 249–50
PayPal, 278
Peale, Norman Vincent, The Power of Positive Thinking, 46
Pelé, 164
Pennsylvania Railroad, 108
pension era, 161–63, 165
pessimism, of Despair Industrial Complex / Big Woe, 265–69, 270, 276, 296
Phelan, Michael, 87
Philadelphia:
house hacking in, 151
lotteries in, 184
as U.S. capital, 145
Pinterest, 35
Pittsburgh, house hacking / boarders and, 152–53
Playboy magazine, 217
Pokémon cards, 86
Pollard, William, 28
Ponzi, Charles, 110
Porter, Sylvia, 47, 51, 88, 195
poverty:
English Poor Laws, 164–65
Great Depression and, 14
historic increase in personal income and, 268–72
marriage and, 245–46
relative levels of, 14, 268–69
The Power of Positive Thinking (Peale), 46
price controls, inflation and, 218–19
price-to-earnings (P/E) ratios, 126
problem-solving, for others, 284
Progressive Era, 56, 153–54, 163, 194–95, 200, 267, 294
Prohibition, 199
prostitution, 34, 146, 149, 236, 253, 277
Prudent Man Laws, 117–18
pyramid schemes, 156

QVC, 48

railroads, 65, 71, 108, 229, 281, 285
Ramsey, Dave, 48, 49–51, 52, 207, 210, 285
debt and, 221
The Ramsey Show (radio program), 50–51
The Total Money Makeover, 5
A Random Walk Down Wall Street (Malkiel), 92–93
Raskob, John, 108
Reagan, Ronald, 56, 221
real estate, 140–49
accelerated depreciation and, 221–22
in building wealth, 76, 147–48, 263–64
challenges of investing in, 264–65
Florida vacation homes, 67–68
foreclosure investments, 20–21
generational wealth and, 76, 251, 254–55
Great Recession / financial crisis of 2008 and, 4–5, 42, 59, 149, 202–3, 211–12
house hacking, 150–55, 159, 196, 286–87
housing shortages, 148, 219–20, 270–71
immigrants and, 178
in net worth calculation, 57
price trends, 142–44
rental properties, 38, 77–78, 81, 144–59, 211–12
scams in, 183
speculation in, 209
taxes and, 81, 147, 222–23
1031 exchanges, 81, 222–23
timber land, 100
value-added investing in, 75–76, 80, 141, 142, 143–44, 148–49, 152
zero-down investors, 20–21
see also home ownership; land; mortgages
Reddit, 151
remote work, 134
retirement, 160–70
activities in, 162, 163–64
annuities and, 44, 51, 165–66, 170, 282, 293–94
avoiding anxiety about, 289
components of, 164–65
defined-benefit plans, 166
defined-contribution plans, 166
early, 41, 105–6, 129–31, 135–38, 289
expectations vs. reality and, 168–69
401(k) retirement plans, 77, 118, 120, 125–26, 166–68, 170, 289
pension era, 161–63, 165
retirement communities, 161, 167–68
Roth IRAs, 57, 165, 223
separating saving from investing and, 289
shadow retirement systems, 163
Social Security and, 14, 57, 160–62, 164–70, 288, 289, 293
stock market and, 118, 120, 121, 125, 126
taxes and, 57, 166, 223
see also financial independence
Rich Dad, Poor Dad (Kiyosaki), 5, 48, 49
risk:
Abigail Adams and, 107
attitude toward, 16–17, 295–96
beating the market and, 89–102
major returns and, 139
Elon Musk and, 87
risk-aversion of professors, 98, 265–69, 270, 276, 296
in value-added investing, 80–81
see also diversification; insurance
Roaring Kitty, 97
Roaring Twenties, 14, 20–21, 109, 133, 146, 249, 254
Robin, Vicki, Your Money or Your Life (with Dominguez), 136, 137
Robinhood, 101, 118, 126
Rockefeller, John D., 193
Roosevelt, Eleanor, 194, 218–19
Roosevelt, Franklin D. (FDR), 160, 161, 163, 208
Roosevelt, Theodore, 115–16, 163, 229–30
Roth IRAs, 57, 165, 223
Rouge, 185
Russian government debt default (2022), 95

safety:
insurance and, 36–37
stock market and, 121
Salatin, Joel, 134–35
same-day delivery, 68, 71
same-sex marriage, 245
Sanders, Bernie, 263
San Francisco:
fire of 1906, 37
gold rush, 143, 172–73
Santiago de Ochoa, D., 180–81
The Saturday Evening Post, 108
Saturday Night Live (TV program), 48
Save-a-Nickel stores, 187
saving:
Fast Time / Slow Time and, 29–30, 31
financial advice and, 38, 50
frugality and, 66, 172–77, 197, 247, 251, 253
habit of, 275–76
immigrants and, 172–77, 247
impact of official currency on, 30
savings rates, 172–77, 199
separating from investing, 289
see also budgets / budgeting
Saving for Happiness and Income Tomorrow (SHIT) Act, 166
scams, 180–90
banking, 110
bucket shops, 15, 37–38, 114–15, 291
credit card reward programs, 185, 187–89
early maps of the New World, 181–82
financial gimmicks, 37–38, 182–89
gullibility and, 189–90
lotteries, 184–85
mining company stock, 183
multilevel marketing (MLM), 156–57
Nigerian / Spanish Prince, 180–81, 189
real estate, 183
stock market, 38, 115, 183
trading stamps, 186–89
Scanlon, Kyla, 285
Science, 273
search engines, 68–69
Sears, Discover Card, 187
Sephora, 185
Seward, Frederick, 29–30
S&H Green Stamps, 186
shinplasters, 28
short selling, 6, 90–91
side gigs, see gig economy / side hustles
Siebert, Muriel, 109
Siegel, Jeremy, Stocks for the Long Run, 118–19
The Simpsons (TV series), 48
slavery / enslaved people, 12, 26, 35, 54, 66, 199
Slow Time, see Fast Time / Slow Time
small business:
bankruptcy and, 227, 228, .231–32
concentration and, 87
debt and, 206–7
gender roles and, 196, 230
geoarbitrage and, 136, 287
government programs and, 288
immigrants and, 87, 174, 175, 178
marriage and, 227, 236–37, 238–41, 247–48
side hustles and, 155–56
simple heuristics and, 200–201
in value-added investing, 80–81
Smith, Anna Nicole, 225
Smith, Edgar, Common Stocks as Long Term Investments, 41
social media streaming, 72
Social Security, 14, 57, 160–62, 164–70, 288, 289, 293
Sosa, Sammy, 165
South Sea Company, 82–83, 104
speculation / speculitis, 37–38, 40, 67–68, 209, 281
spiritualism, 184
spotting, 63
Standard Oil, 285
Standard & Poor’s (S&P) indexes, 71, 94, 117, 293
Stanford, Leland, 285
Stanley, Thomas J., The Millionaire Next Door, 252
Starbucks, 185
stock market, 112–26
in the 1920s, 40–41
bond market vs., 39–40, 41, 115, 122
bucket shops, 15, 37–38, 114–15, 291
business cycle and, 116–17
The Chart, 112–13, 118, 120
crash of 1792, 225
dividends, 44, 65, 77–78, 112–13, 119–20, 125–26
Efficient Market Hypothesis (EMH), 93–96
ETFs (exchange-traded funds), 120–21
extent of stock ownership, 40, 115–16, 118–19, 120, 124–25
Fast Time / Slow Time and, 113, 121, 293
as form of gambling, 106, 115–16
Great Crash (1929), 41, 42, 109, 112, 113, 185, 249–50, 280
human capital vs., 59–60
index funds and, 42, 92, 113, 118, 120–21, 126, 198–99, 217
inflation and, 39–40
investment guides, 37–38, 40–41
key performers in, 122–24
long-run performance of, 118–26
margin accounts, 6, 90–91, 114
natural laws and, 117–18
origins in Exchange Alley (London), 104
Panic of 1837, 115, 226, 227, 239
popular financial gurus and, 51–52, 89–90, 91–92, 285
price relationship to return, 122–23
Prudent Man Laws and, 117–18
retirement plans and, 118, 120, 121, 125, 126
safety and, 121
scams and rug pulls, 38, 115, 183
short sales and, 6, 90–91
speculation / speculitis and, 37–38, 40, 281
stock buybacks, 126
stock charts and, 41, 99–100
stock indexes, 41, 71, 94, 113, 117, 119, 122, 293
T-bill returns compared with, 123–24
technical analysis, 41, 97–98
value investing, 96–97, 98–100, 107
wealth and, 76, 114, 124–26
women as active investors in, 94, 104, 106–10
see also beating the market
Stocks for the Long Run (Siegel), 118–19
Stoicism, 17
Stoneman, Abigail, 105
stress:
bankruptcy and, 224–25, 232–33
debt / leverage and, 209–10
student loans, 202–3, 207, 220, 282, 290–91
sugar beets, 65–66, 71
suicide, 13
Super American Mortgage, 208
survivalism, 47
The Sweaty Startup (Huber), 288
Swensen, David, 100
Swoops, Sheryl, 225

Taft, William Howard, 39
Target, 218
taxes:
cost segregation / accelerated depreciation and, 221–22
double taxation, 217
early currency and, 30
Fast Time / Slow Time and, 222–23
interest deductions from taxable income, 221
real estate and, 81, 147, 222–23
retirement plans and, 57, 166, 223
1031 exchanges of real property, 81, 222–23
on trading stamp companies, 188–89
VAT system, 223
Taylor, John and Agnes, 153
technical analysis, 41, 97–98
teen pregnancy, 13
1031 exchanges, 81, 222–23
Ten Acres Enough (Morris), 133
Terhorst, Paul, Cashing In on the American Dream, 136
Terhorst, Vicki, 136
Tesla, 115
Think and Grow Rich (Hill), 46–47, 49
Thoreau, Henry David, 6, 131–32, 134
Thriller (1982 album), 119
ticker tape machine, 117
TikTok, 1, 137, 138
time, see Fast Time / Slow Time
Time magazine, 47
tobacco, 199
Tocqueville, Alexis de, 225
toll roads, 65
The Total Money Makeover (Ramsey), 5
tractor trailers, 22–23
trading stamps, 186–89
Trading with the Enemy Act (1917), 174
Transcendentalists, 131–33
Treasury Bills (T-Bills), 53, 123–24
Trump, Donald J., 46, 222, 223, 225
turnpikes, 215, 216
Twain, Mark, 1, 267
The Gilded Age, 212
Twitter, 292
Tyson, Mike, 187, 225

Uber, 155
ultraism, 131, 132–33
United States, 11–17
American Revolution, 107, 143–45, 196, 224, 267
Civil War, 28–29, 80, 103, 130, 131, 181, 183, 206, 267
colonial period, 12–13, 181–82, 184, 197–98
debtors’ prisons, 13, 14, 226, 232
early currency types, 26–32
early maps of the New World and, 181–82
in the 1800s, 13, 35, 67–68, 198, 215–16, 268
Go Ahead! American story, see Go Ahead! approach
government challenges to capitalism, 218–20
government supports for capitalism, 213, 215–18
historic increases in personal income, 268–72, 283
immigration to, see immigration / immigrants
infrastructure projects, 64–65, 215–16
mobility and, 14–16, 177–79
relative poverty rates, 14, 268–69
relative wealth and, 11–12, 268–69, 273–74
in the twentieth century, 13–15
wage levels and, 13–14
see also Go Ahead! approach; Social Security
University of North Carolina (UNC)–Chapel Hill, 205
University of Phoenix, 69–70
upward mobility, 255–57
geoarbitrage and, 14–15, 136, 287
history and, 272–74
USDC, 54
U.S. Department of Agriculture, 66, 133–34
U.S. Department of the Treasury, 162–63
U. S. Federal Trade Commission (FTC), 188
U.S. Government Bonds, 88
U.S. Postal Service, 38
U.S. Small Business Administration (SBA), 288
U. S. Steel, 107–8
U.S. Supreme Court
bankruptcy of Justice James Wilson, 224–25
bucket shops and, 115
greenbacks and, 30
loyalty games and, 186, 187–88
Mississippi River and, 214
net worth as term and, 56–57
trading stamps and, 186–88
U.S. Treasury, early currency and, 30

vacation industry, 67–68, 71
value-added investing
debt / leverage in, 80–81
passive income and, 75–76, 79–81
in real estate, 75–76, 79–81, 141, 142, 143–44, 148–49, 152
value investing, 96–97, 98–100, 107
Vang, Cer, 251
Vanguard, 120–121118
VAT system, 223
Vietnam war, container shipping and, 23
Villiers, Victor de, Financial Independence at Fifty (Villiers), 41, 135
Visa card, 188
Vogue magazine, 108

Walden Pond, 131–32, 134
Walker, Madame C. J., 156
Wall Street:
Crash of 1792, 225
Great Crash (1929), 41, 42, 109, 112, 113, 185, 249–50, 280
see also stock market
The Wall Street Journal, 93, 94–95, 97, 117
Walmart, 115, 285
Walton, Sam, 285
Washington, George, 31, 144, 224, 235–36
Washington, Martha Custis, 235–36
Way to Wealth (Franklin), 204–6
wealth:
adding value and, 75–76
Baby Boomer generation and, 76
diversification, 82–83, see also diversification generational, 249–59
home ownership and, 220
house hacking and, 150–55, 159, 196, 286–87
immigrants and, 171–72, 173–74, 251, 253
net worth in measuring, 56–57, 59–60, see also net worth
opportunity and, 210–11
real estate in building, 76, 147–48, 263–64
relative levels of, 11–12, 268–69, 273–74
from small business ownership, 87
stock market and, 76, 114, 124–26
windfalls and, 250, 253, 258–59, 295
see also upward mobility
Weaver, Sigourney, 108–9
Web 2.0, 136–37
What Should We Do With Our Old? (1911 film), 160–61
Whitman, Walt, 131, 132
Wilson, James, 224–25
Wilson, Woodrow, 163
Winnie the Pooh (Milne), 296
women investors, 103–11
in banks, 110
in bonds, 106–8, 109
feme covert / feme sole laws, 104–5, 106
investment clubs, 94, 111
in mortgage lending, 103, 104–6, 110–11, 291
in stocks, 94, 104, 106–10
women’s magazines and, 108
Woodhull, Victoria, 109
Working Girl (1988 film), 108–9
World Bank, 219
World War I, 5, 55, 56, 107–8
oil shortage, 67
postwar inflation, 39–40, 41, 78, 116
World War II, 70, 76, 115, 142–43, 165, 175, 279–80
container shipping and, 22–23
female employment during, 241
Greatest Generation, 13, 249
postwar boom, 273
postwar housing shortage, 219–20, 270–71
postwar stay-at-home moms, 241–42
Prudent Man Laws following, 117–18

Your Money or Your Life (Robin and Dominguez), 136, 137
YouTube, 37, 137, 215, 233

Zillow, 57