BAY RIDGE — Norm Champ was greeted by an enthusiastic crowd at the Wicked Monk on Nov. 20, where he held a signing to promote his new book, “Mastering Money.”
Champ says the book is a passion project to help explain the fundamentals of money management and provide tips on how to avoid common financial system pitfalls.
The event was sponsored by the Brooklyn Conservative Party and its Chair Fran Vella-Marrone.
“Norm Champ is someone who has very high qualifications and we’re very lucky to have him here tonight,” said Vella-Marrone. “When we were approached to have him speak tonight, I jumped on the opportunity. I thought it would be great for our community and great for the conservative movement,” she added.
Champ is the former director of the Division of Investment Management at the U.S. Securities and Exchange Commission, and is currently a partner at the global law firm Kirkland & Ellis. Under his leadership, the SEC adopted a series of new regulations following the Great Recession. He led initiatives to enhance the transparency of the SEC’s actions to the public and industry.
Champ also regularly teaches an investment management course at Harvard Law School.
Champ’s first book, “Going Public,” talked about his experience moving from working in the private sector to the government. “I wanted to write this book from the start but the story that was more interesting for the first book was someone from the private sector going to the government after the financial crisis and what it was like going to the government — all the frustrations, all the craziness — so that book did well and I got to write this one,” said Champ.
“So, this is more of a personal passion project because I feel like in the current consumer society, the message to everyone is spend, borrow, buy a house, go into debt, loans and all those things,” he added.
Champ went on to explain that no one’s talking about what he called the “traditional elements of financial success. Cut down on your expenses, get a job, increase your income, get your income in excess of your expenses, save the rest and invest it.”
The book is an essential read for anyone wanting to know the basics of money management, as Champ reveals what he calls the “the long lost secrets of ways to keep yourself financially healthy.”
The book is extremely readable even if you do not have any background knowledge of finance. In fact, it opens with a brilliant quote from Steve Martin:
“I love money. I love everything about it. I bought some pretty good stuff. Got me a $300 pair of socks. Got a fur sink. An electric dog polisher. A gasoline powered turtleneck sweater. And, of course, I bought some dumb stuff, too.”
With that intro, Champ shares some valuable tips with readers about what he calls “financial literacy,” explaining, “Our financial system is easier to grasp than you think — and armed with this new knowledge and insight, you’ll finally take control of your financial future.”