Saturday, November 14, 2009

Andrew Mellon is My Hero


I have long admired the life and career of Andrew Mellon, one of the greatest investors in history but also a magnificent Secretary of the Treasury during the 1920s primarily under President Hoover.

His advice (usually ignored) and his ideas (far ahead of their time) are recounted in great detail in a new book called THE POLITICALLY INCORRECT GUIDE TO THE GREAT DEPRESSION AND THE NEW DEAL by author Robert P. Murphy.

Mellon was a financial genius. You can read a wonderful and vivid account of his investing success in one of the best business biographies ever written, MELLON: AN AMERICAN LIFE, by author David Cannadine.

But he was also one of the great all-time public servants and his substantial efforts to avoid the Great Depression can be found in Murphy's new and very readable book.

If you ever come to my office you will see a photograph of Andrew Mellon on my wall. Now I hope you understand why.

Robert J. Abalos, Esq.