In 'Richistan,' Robert Frank delves into the world of the ultra-wealthy, dividing them into three classes: Lower Richistan ($1-$10 million net worth), Middle Richistan ($10-$100 million), and Upper Richistan ($100 million-$1 billion). The book details their lavish lifestyles, competitive drive, and influence on the American economy. It also touches on themes such as philanthropy, politics, and the emotional complexities of wealth. Frank's work provides a detailed and often amusing look at what he terms the 'new Gilded Age,' highlighting the significant growth in the number of millionaire households and the resulting social and economic disparities.
The Bonfire of the Vanities is a drama that centers on three main characters: Sherman McCoy, a WASP bond trader; Larry Kramer, a Jewish assistant district attorney; and Peter Fallow, a British expatriate journalist. The novel explores the complexities of New York City in the 1980s, delving into themes of ambition, racism, social class, politics, and greed. It was originally conceived as a serial in the style of Charles Dickens and ran in 27 installments in Rolling Stone before being published in book form. The story follows the characters through their interactions and conflicts, highlighting the superficial values and hypocrisies of the city's elite and the underlying social tensions of the time.
Published in 1925, 'The Great Gatsby' is a tragic love story, a mystery, and a social commentary on American life during the Jazz Age. The novel is narrated by Nick Carraway, who moves to Long Island and becomes entangled in the lives of his wealthy and mysterious neighbor, Jay Gatsby, and Gatsby's obsession to win back his first love, Daisy Buchanan. The story delves into themes of honesty, the temptations of wealth, and the struggle to escape the past, ultimately reflecting on the disintegration of the American Dream.
On episode 178 of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by Robert Frank to discuss: how the richest people invest and spend their money, the wealth effect, how different generations view money, the soaring cost of vacations, the carried interest loophole, and much more!
This episode is sponsored by Kelly Intelligence. To Learn more about the COWS and HCOW ETFs, visit: https://kellyintel.com/
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