Edward Chancellor (Editor)
Capital Returns: Investing Through the Capital Cycle: A Money Manager's Reports 2002-15
- ISBN 13:
- 9781137571649
- author:
- Edward Chancellor (Editor)
- format:
- HardBack
- publisher:
- Palgrave Macmillan
- language:
- English
- Publication Year:
- 2015
- Pages:
- 224
- Dimensions:
- 24.3 x 16 x 1.9 cm
- Genre:
- Business, Finance & Law, Management, Managemen
- Condition:
- New
- Availability:
- Item usually sent within 10 working days
Description
Capital Returns Investing Through the Capital Cycle: A Money Manager's Reports 2002-15 by Edward Chancellor In today's economy, asset bubbles and spectacular busts are a recurring phenomenon. Economists and investors alike have been caught off guard by these events, with trillions of dollars lost. However, a London-based investment firm, Marathon Asset Management, has developed a method for identifying and potentially avoiding these bubbles by following the trail of investment. This approach is based on the observation that bubbles tend to attract excessive capital spending, which ultimately leads to a bust. By avoiding sectors with high levels of investment spending and focusing on industries with depressed capital expenditure, investors can increase their chances of success. This strategy encourages a more nuanced approach to investing, moving beyond the traditional 'growth' and 'value' dichotomy. Instead, investors can look for firms with strong barriers to entry, or 'moats', which can deliver superior returns. Some of Marathon's most successful investments have come from niche operations with strong defensive positions, highlighting the potential for investors to find opportunities in unexpected places.
Related Products
Related Products
The Return of Inflation: Money and Capital in the 21st Century
Mattick, Paul
Capital
Lanchester, John
Money For Nothing: The South Sea Bubble and the Invention of Modern Capitalism
Levenson, Thomas
Capitalism and Freedom
Friedman, Milton
Capital Wars
Howell, Michael J