Chile: Daughter of Fortune

Isabel Allende is an absolute master of language, character, and plot. Daughter of Fortune: A Novel is a fantastic story. It was published in English in 1999 and was an Oprah’s Book Club selection, but I didn’t get around to it until this weekend. My only regret is not reading it sooner.

Allende was born in Peru to Chilean parents; her father was a diplomat. His cousin was Salvadore Allende, who was elected president of Chile in 1970 and then died in 1973 during a military coup. Allende grew up in elite and political circles, which is not the same as having safety and security. She eventually moved to California, but she writes primarily in Spanish.

Chile takes up a long, narrow strip of South America’s Pacific Coast, and the nation also claims a large slice of Antarctica. In the 19th Century, the nation’s rich silver reserves and abundant natural ports made it a formidable player in global trade. It became independent of Spain in 1810. It struggled with establishing democracy, engaged in a naval arms race against Argentina, and developed policies that favored the oligarchs. Between 1920 and 1990, the nation moved back and forth between Marxist and military governments. The inability to find synthesis did enormous damage to the economy, institutions, and trust among the people. The nation has recovered and is now in a fairly stable position, especially relative to its neighbors Peru and Argentina.

Daughter of Fortune is the story of a foundling, Eliza Sommers, raised by an Indigenous nanny in the household of a wealthy English brother and sister. The family participated in trade, with the brother in Chile operating an import-export warehouse business while another brother was at sea, captaining a ship. When gold fever broke out in Northern California, Chileans set out for San Francisco. They had mining expertise, and the nature of shipping routes at the time (before the Panama Canal) gave the South Americans a head start on the journey. Eliza takes the trip and makes her way into the strange world of the Gold Rush.

Like most colonial cities, Valparaiso and San Francisco are both places where people move to escape past mistakes and make their fortunes. This not only makes for great fiction, it also explains the pull these places have for immigrants from all over the world. The opportunity attracts one wave of settlers; they create a cultural mix that attracts future waves. Of course, this completely changes the culture that was in place before the colonists arrived.

All in all, this was a great novel. 10/10.

A white woman with green glasses and gray hairAnn C. Logue

I teach and write about finance. I’m the author of four books in Wiley’s …For Dummies series, a fintech content expert, and an avid traveler. Among other things.

Latest Work

Hedge funds for Dummies Cover

Hedge Funds for Dummies, 2e
My first book has been completely revised! Updated to reflect changing markets, accessible strategies through ETFs, and new potential due diligence pitfalls.

MORE »

VIEW ALL WORK »

Latest Work

Cover of Day Trading for Dummies

Day Trading for Dummies, 5e
With five revisions, countless interviews with successful traders, and lots of research, this is the definitive guide to getting started, managing risk, and staying in the game.

MORE »

VIEW ALL WORK »