You’ve heard of eating local and shopping local – now a new book urges you to take the same approach to your portfolio. Locavesting: The revolution in local investing and how to profit from it guides readers through the idea that investing in local businesses, instead of faceless conglomerates, can not only benefit your local economy, it can boost your bottom line, too.
The book, by freelance journalist Amy Cortese, evolved out of a story she wrote on local stock exchanges in the wake of the financial meltdown.
“People were coming up with new ways to funnel more investment capital to the locally owned companies that create jobs and healthy communities and are too often ignored by the financial establishment,” she says. Locavesting is about restoring the bonds between investors and companies. “It’s capitalism for Main Street.”
Cortese gives Reuters an inside look at the world of locavesting and how you can get started.
The book really exposes the cracks in today’s financial system — how does it highlight the need for “locavesting”?