Generation of Wealth

September 29, 1997
Westheimer, 81, is a veteran stockbroker who appears frequently on PBS's Wall Street Week with Louis Rukeyser. In this guide, he presents clearly his straightforward investing advice--try to save 10% of your income; use mutual funds for diversification; etc. Although you may have heard much of this before, it's handy to have it collected succinctly in one place. Sometimes Westheimer gets his facts wrong (Money Line with Lou Dobbs is on CNN, not CNBC), and his book is digressive at times, padding the advice with reminiscences and descriptions of what a broker does. Yet for those interested in a nontechnical introduction to investing from a pro, this is a good place to start. Photos.

November 1, 1997
In this personal memoir, octogenarian investor and columnist Westheimer reveals the same cautious approach to investing that often made him the target of Louis Rukeyser's gentle ribbing as a panelist for Wall Street Week. Westheimer followed in his father's footsteps to become a stockholder, and his conservative investment advice stems from his childhood memories of observing his father struggle through the 1929 crash and subsequent Depression. Typical Westheimer advice is to pay off debt before investing. Much of the wisdom that Westheimer purveys can also be found in current books such as The Beardstown Ladies' Commonsense Investment Guide (LJ 1/95). Readers with an interest in the author may find this intriguing; otherwise, only the most complete collections need to consider.--Joseph Barth, U.S. Military Acad. Lib., West Point, N.Y.