John Longo-Professor of Finance, Co-Author
With over 25 years of experience in the field of finance and economics, John Longo holds a well-earned reputation for excellence as a professional investor, best-selling author, and award-winning professor. In addition to penning The Art of Investing: Lessons from History’s Greatest Traders, he is a former vice president at Merrill Lynch and previously sat as an advisory board member of the Bloomberg Institute. Today, John is a professor of finance and economics at Rutgers Business School, where he has taught for more than 20 years; CIO and portfolio manager for Beacon Trust; a strategic advisor at Welrex; and a visiting professor of finance at Global EMBA-Asia.
John’s son, Tyler Longo, is a high school student in the central, NJ area. Having scored in the ninety-ninth percentile on the PSAT and SAT, with a perfect score of 800 in the math section, he is now a candidate for a National Merit Scholarship. Last year, he completed the Introduction to Business, Finance, and Economics program for high school students at Columbia University and has reapplied for a different curriculum this summer. Tyler also plans to attend Moneyball Academy at the Wharton School of the University of Pennsylvania and to intern at Welrex, a London based fintech firm that provides a platform for investment advisors in the emerging markets.
With a shared passion for finance, the father-son duo has combined their generational perspectives and experiences on the subject into a new book, Buffett's Tips: A Guide to Financial Literacy and Life. Published in December 2020 by John Wiley & Sons, Inc., chapter after chapter teaches readers how to become financially literate by using a framework inspired by one of the greatest investors of all time—Warren Buffett.
The inspiration for writing Buffett's Tips stems from John’s expertise in finance and academia and from Tyler’s personal and educational experiences. John spends the entirety of his professional time focusing on investment-related topics—managing portfolios, conducting investment research, meeting with clients, and teaching investment courses. He has also taken four trips with Rutgers students to meet Warren Buffett and to tour his companies. Sharing his dad’s interest in financial literacy, Tyler has completed courses in economics and personal finance, opened his first savings and checking accounts, and started his own investment portfolio. “It’s important for kids my age to get started early to have the magic of compound returns work for them. A small amount invested today may turn into a small fortune over several decades,” Tyler explains. Also, according to John, a younger person can generally afford to take on more risk, which allows them to have more growth names in their portfolios and to buy on dips. However, people closer to retirement will need to keep a more conservative portfolio. “As people age, their risk tolerance and portfolios also change,” he adds.
With the goal of placing readers on the long-term path to financial independence, John and Tyler condense decades of Buffett’s writings and media appearances into 100 straightforward tips and strategies for enhancing their financial literacy and independence. The book covers essential concepts such as the time value of money and compound interest, descriptions of basic financial instruments, approaches to valuing stock, and guidance on how to build a portfolio in accordance with Buffett’s decades of homespun wit and wisdom. All 432 pages are written with an understandable, entertaining, and plain-learning approach, and thanks to Tyler’s input, the guide spans several generations with concepts and advice that are relevant to a variety of ages and life situations.
Since its release, the book’s information on behavioral finance, through the lens of Buffett, has been of particular interest to readers, as it examines how people make decisions as well as mistakes. “Most financial courses falsely assume that we are unemotional like computers, but in reality, our emotions can easily lead to financial mistakes. Therefore, it’s important for people to learn why they commonly make mistakes so that they can change their behaviors and avoid them in the future,” John explains. While there are many publications about Warren Buffett and about financial literacy, Buffett's Tips: A Guide to Financial Literacy and Life is the only book that effectively combines the two topics, instructing its readers on how to become financially literate by using a framework of Warren Buffett’s teachings.
John Longo │Professor of Finance, Co-Author
Tyler Longo │Co-Author
New Brunswick, NJ