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MarketScreener Homepage  >  Equities  >  Nyse  >  Provident Financial Services, Inc.    PFS

PROVIDENT FINANCIAL SERVICES, INC.

(PFS)
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Provident Financial Services : Father and Son, John Longo and Tyler Longo, Release New Book that Teaches People to Become Financially Literate Using the Mindset of Warren Buffett

01/14/2021 | 04:38am EST

Professor John Longo's new book, Buffett's Tips: A Guide to Financial Literacy and Life, was recently published by John Wiley & Sons, Inc. ("Wiley"). The book, co-authored with his son, Tyler Longo, teaches readers to become financially literate through 100 tips using a framework inspired by Warren Buffett.

New Jersey, New York, USA - "Financial illiteracy is one of the driving forces behind income and wealth inequality. What better way to become financially literate, and ultimately financially independent, then to use a framework inspired by the greatest investor ever?" Professor John Longo says. Just released at Amazon, Barnes & Noble, Books-A-Million, Indie Bound, Indigo, and Waterstone's, by John Wiley & Sons, "Buffett's Tip's: A Guide to Financial Literacy and Life" is co-authored by John Longo and his son, Tyler Longo.

The book was influenced by four trips Professor Longo took to Omaha with groups of Rutgers students for a personal visit with Buffett, affectionately known as the "Oracle of Omaha." In parallel, he was teaching his teenage son aspects of financial literacy, further leading to the book collaboration. For example, they opened financial accounts and products geared toward minors, such as a savings account, checking account, debit card, credit card, brokerage account, and 529 college savings plan.

"It is important to understand the financial concepts that drive the economy and one's financial position. Examining these topics through the lens of Warren Buffett may maximize one's chances for success," says Tyler Longo.

The book covers the fundamentals required for someone to become financially literate in an easy-to-read format while channeling Buffett's renowned sense of humor and pop culture references. Topics covered in the book include bank accounts, credit cards, cars, homes, stocks, bonds, portfolio construction, risk management, basic accounting, and Bitcoin, as well as a detailed financial glossary written in plain English.

Praise for Buffett's Tips

"John Longo and his son, Tyler, have performed a valuable service, taking the wisdom of Warren Buffett (the supply of which is ample) and distilling from it 100 'tips,' with the authors' own explanatory text, to guide the reader from financial ignorance to a degree of financial literacy. Along the way, there are useful lessons for life in general. If you have a friend, child, or parent who needs a pathway to a better understanding of some financial fundamentals, get this book for them-it'll go a long way to bringing them up to speed." - Simon Lorne, Vice Chairman and Chief Legal Officer, Millennium Management LLC; former Partner, Munger, Tolles & Olson

"Priceless. 100 investment and life tips from the Oracle-a great read for the beginning investor." - S. Basu Mullick, retired Portfolio Manager and Managing Director, Neuberger Berman; former General Partner, Omega Advisors; noted value investor; former "Marketwatch Fund Manager of the Year"

"John Longo has a well-earned reputation for excellence in teaching at the university level. Working with his son Tyler, John now extends his passion for education out of the classroom and across generations with this guidebook to the essential tools for financial proficiency." - Gregory P. Francfort, noted value investor; former Institutional Investor "All-Star Analyst"

"John and his son have written an invaluable guide steeped in the wisdom of Warren Buffett. Marrying sound financial advice with general life lessons, Buffett's Tips provides a solid foundation for advancing financial literacy across a broad multi-generational audience." - Joshua Rosenbaum, Joshua Pearl, Joseph Gasparro, co-authors, The Little Book of Investing Like the Pros and Investment Banking: Valuation, LBOs, M&A, and IPOs

Wiley Partnership

One thing that struck Professor Longo about his meetings with Buffett was regarding the Oracle's wisdom on non-financial related topics, such as the importance of communication skills, having a group of friends that would inspire you, and the significance of helping others. So, although the book is primarily focused on financial related topics, the "life" part of the book contains many equally valuable lessons. The end of each chapter provides a handy list of tips or strategies culled from Buffett's decades of writings and media appearances.

Wiley is one of the world's leading learning companies and has published numerous bestselling investment-related books, such as The Warren Buffett Way and The Little Book that Beats the Market. "We thought Wiley was the perfect partner for our current book project given their two hundred plus year distinguished history, worldwide reach, and unparalleled track record in financial related books," Professor Longo says.

The book is available at Wiley, Amazon, Barnes & Noble, and other online retailers.

More about Professor Longo and Tyler Longo

John Longo, Ph.D, CFA, is a professor of practice in the Finance & Economics Department at Rutgers Business School and chief investment officer and portfolio manager for Beacon Trust. Beacon has $3.5 billion in assets under management and is a unit of Provident Financial Services (NYSE: PFS), founded in 1839. He has served as visiting professor of finance at Global EMBA Asia - the joint international Executive MBA Program of Columbia University, London Business School and The University of Hong Kong - for more than five years.

Dr. Longo has appeared on CNBC, Bloomberg TV, Bloomberg Radio, Fox Business, wsj.com (video), BBC World, The (Ron) Insana Quotient, GreatInvestors.TV, and several other programs. He has been quoted in The Wall Street Journal, Barron's, The New York Times, Los Angeles Times, Bloomberg (online), CNBC.com, Thomson Reuters, U.S. News & World Report, Dow Jones MarketWatch, The Harvard Crimson, Fox Business (online) and dozens of other periodicals.

In addition to Buffett's Tips, he has written The Art of Investing: Lesson's from History's Greatest Traders and Hedge Fund Alpha: A Framework for Generating and Understanding Investment. Previously, he was a vice president at Merrill Lynch & Co., Inc and served on the Advisory Board of the Bloomberg Institute, the educational division of Bloomberg LP.

Tyler Longo is a high school student in the Princeton, NJ area. He has completed coursework in Personal Finance, AP Economics, AP Statistics, and the Introduction to Business, Finance, and Economics program for high school students at Columbia University. Tyler is a candidate for a National Merit Scholarship, having scored in the 99th percentile on the PSAT as a high school junior, as well as a perfect score on the Math section of the SAT.

About Wiley

Wiley drives the world forward with research and education. Through publishing, platforms and services, Wiley helps students, researchers, universities, and corporations to achieve their goals in an ever-changing world. For more than 200 years, Wiley has delivered consistent performance to all of its stakeholders.

The Company's website can be accessed at www.wiley.com

Media Contact

Company Name: Rutgers Business School

Contact Person: Susan Todd, Public Relations Manager

Email: stodd@business.rutgers.edu

Phone: (973) 353-5224

Country: United States

Website: www.BuffettsTips.com

Source: www.abnewswire.com

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(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2020 384 M - -
Net income 2020 82,6 M - -
Net Debt 2020 - - -
P/E ratio 2020 17,4x
Yield 2020 4,45%
Capitalization 1 583 M 1 583 M -
Capi. / Sales 2020 4,12x
Capi. / Sales 2021 3,67x
Nbr of Employees 992
Free-Float 85,8%
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Mean consensus HOLD
Number of Analysts 5
Average target price 20,75 $
Last Close Price 20,66 $
Spread / Highest target 11,3%
Spread / Average Target 0,44%
Spread / Lowest Target -8,03%
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Managers and Directors
NameTitle
Christopher P. Martin Chairman & Chief Executive Officer
Anthony J. Labozzetta President, Chief Operating Officer & Director
Thomas M. Lyons Chief Financial Officer & Senior Executive VP
Frank L. Fekete Independent Director
Carlos M. Hernandez Lead Independent Director