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Author: Noah Leidinger is a young Austrian financial journalist and investor who began engaging with the stock market at an early age, investing his own savings at just 13 years old. Since 2016, he has written articles and stock analyses as a freelance finance writer. In 2021, he started the popular German finance podcast Ohne Aktien wird schwer, which focuses on investing, stock analysis, and personal finance. In addition to his media work, Leidinger serves as a portfolio manager and authorized signatory at the investment company OMR X, where he supports startup and growth investments. In 2025, he was featured on the Forbes “30 Under 30” list, highlighting his influence in finance and investing. 
Florian Adomeit, born in 1993, brings academic and professional finance experience to the book. After studying in Berlin and St. Gallen, he worked as a research assistant and lecturer at the Free University of Berlin and in consulting. Adomeit co-hosts finance podcasts including Beckers Bets and Alles Coin, Nichts Muss and has been part of the Ohne Aktien wird schwer team. Like Leidinger, he is a portfolio manager and authorized signatory at OMR X, and he has invested in both startups and public equities. In addition to his financial career, he continues academic work toward a doctorate.

Summary: “Without Shares It Will Be Hard” is a nonfiction finance book that explains why investing in stocks (equities) plays a central role in long-term wealth building. Noah Leidinger and Florian Adomeit focus on the challenges of saving money in times of inflation, low interest rates, and rising living costs, arguing that traditional savings accounts alone are insufficient to preserve purchasing power.

The book introduces readers to the basics of stock market investing, emphasizing the importance of understanding businesses rather than speculating on short-term price movements. It explains how shares represent ownership in companies and how long-term value is created through business growth, innovation, and profitability.

A major part of the book is dedicated to company analysis. Using around 25 real-world examples—including well-known global brands—the authors demonstrate how to evaluate business models, competitive advantages, revenue streams, and financial metrics. Topics such as market positioning, scalability, risks, and valuation are explained in a practical and accessible way.

Leidinger and Adomeit also discuss different investment strategies, comparing passive approaches like ETFs with active stock selection. While ETFs are addressed, the focus remains on helping readers understand how individual stock investing works and how informed decisions can be made based on fundamentals rather than market noise.

In addition, the book covers psychological aspects of investing, such as long-term thinking, emotional discipline, and dealing with volatility. It highlights the importance of patience, continuous learning, and personal responsibility when managing investments.

Overall, “Without Shares It Will Be Hard” provides a structured introduction to stock investing, combining financial theory, real company case studies, and practical explanations aimed at helping readers better understand how equity markets function.

Personal opinion: Without Shares It Will Be Hard delivers an accessible introduction to stock market investing, but it remains largely superficial in depth. The book is clearly shaped by its origins in the financial influencer space, which makes it easy to read and approachable, especially for beginners, but also limits how deeply complex investment topics are explored.

The authors successfully outline the core principles of equity investing, such as understanding companies, long-term thinking, and the importance of stocks in wealth accumulation. However, these concepts are mostly presented on a high level. Readers who already have basic knowledge of investing, financial markets, or company analysis will likely find little new or advanced insight.

While the numerous company examples help illustrate ideas, they often remain descriptive rather than analytical. Key investment questions—such as deeper valuation methods, risk assessment, or alternative perspectives—are touched on but not explored in detail. As a result, the book works more as a broad overview than as a guide for developing a strong, independent investment framework.

Overall, Without Shares It Will Be Hard is suitable for readers who are new to investing and want a motivational entry point into the stock market. For more experienced investors, the content may feel familiar and somewhat surface-level, offering confirmation rather than deeper understanding.