A Piece of the Action: When the Middle Class Joined the Money Class

by Ashik Shah on 31 October 1994

An acclaimed bestseller at the time, A Piece of the Action: When the Middle Class Joined the Money Class takes the reader on a journey through the financial revolution that took place with the birth of products such as credit cards, mutual funds and retirement accounts, providing access to the middle class.  We become acquainted with such visionary and iconic figures as Charles Merrill, Charles Schwab and Peter Lynch.

Joe Nocera has been a columnist and editorial director for Fortune and columnist at the New York Times.  He has written Good Guys and Bad Guys: Behind the Scenes with the Saints and Scoundrels of American Business (and Everything in Between) and co-wrote The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron and All the Devils Are Here: The Hidden History of the Financial Crisis.

This book now feels like a historical piece of journalism, but I still find it  provides tremendous insight into the process by which wider members of society gained access to financial products.  This is relevant to anyone interested in such developments globally, particularly in emerging and frontier markets.

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The views expressed and comments made on this website are not personal advice based on your circumstances. The purpose of this website is to provide information and analysis to help you make your own informed investment decisions. If you are not confident making your own investment decisions you should contact a firm which is authorised and regulated by the Financial Conduct Authority (such as Ashik Shah & Co. Ltd.) so that a qualified financial adviser, after considering your personal circumstances and investment objectives, can make personal recommendations of investments which are suitable for you. Whether you make your own investment decisions or prefer to follow the recommendations of a financial adviser you should always remember that your capital will be at risk and that investments can go down in value as well as up.

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