Thursday, January 20, 2011

Gordon S. Murray, Daniel C. Goldie: The Investment Answer

In January 2011, Ron Lieber posted “Gordon Murray, Former Investment Banker, Dies at 60” on a blog for The New York Times. Gordon Murray, the investment banker whose conversion to passive investing was the subject of my Your Money column last Nov. 26, died on Saturday at his home in Burlingame, Calif. He was 60 years old and had suffered from glioblastoma, an aggressive form of brain cancer. I first met Gordon when a close friend of his, a financial planner named Dan Goldie, got in touch with me to tell Mr. Murray’s story. Mr. Murray had spent decades at the highest levels of Wall Street, including Goldman Sachs, selling bonds. Many of his clients were managers of active mutual funds or other investors who seek to outperform various market indexes.
“It was six months ago that I was told I had six months to live. One of the good things about having one of these malignant glioblastomas is that you do get some time to get closure, to plan and to spend so much great time with your family and friends.”

- Gordon S. Murray, author of the book: The Investment Answer

“When I entered the business, illegal and unethical were the same. Now there’s a huge difference. Wall Street got much more skilled about crossing the line of illegality.”

- Gordon S. Murray, author of the book: The Investment Answer
In January 2011, Elizabeth MacBride wrote “Reflecting On A Talk With Gordon Murray, Investors’ Advocate and Publishing Phenom” for Forbes Magazine. Gordon Murray died on Saturday in his Burlingame home after a two-year battle with brain cancer. His passing came after years of advocacy of sensible investing, culminating in a book that has become a publishing phenomenon. The 60-year-old began writing, The Investment Answer in earnest this summer after he was given six months to live, in the wake of a scan that revealed his glioblastoma had advanced. He was prodded along with help from his friend and financial advisor, Dan Goldie, 47, who helped organize the project and write the book. See: Two DFA advisors win big book contract after ‘Dying banker’ article in NYTimes.
“You go through an initial period of sadness, but then you realize, ‘Okay, I can't do anything about it, so let's just make the most of what we have.’ I could have a great, quality six months, or I could take the risk with the chemo, the radiation, and all these other drugs they throw in you, but it might actually make things worse.”

- Gordon S. Murray, author of the book: The Investment Answer

“I basically wanted to do this for him because he's wanted to write this book for so long and he never did it, so this was my gift to him.”

- Daniel C. Goldie, author of the book: The Investment Answer


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