Capital Returns Book Information:

excessive investment drives down returns and leads inexorably to a bust. This was the case with both the technology bubble at the turn of the century and the US housing bubble which followed shortly after. More recently, vast sums have been invested in mining and energy. From an investor's perspective, the trick is to avoid investing in sectors, or markets, where investment spending is unduly elevated and competition is fierce, and to put one's money to work where capital Expenditure is depressed, competitive conditions are more favourable and, as a result, prospective investment returns are higher. This capital cycle strategy encourages investors to eschew the simple 'growth' And 'Value' Dichotomy and identify firms that can deliver superior returns either because capital has been taken out of an industry, or because the business has strong barriers to entry (what Warren buffet refers to as a 'moat'). Some of marathon's most successful investments have come from obscure, sometimes niche operations whose businesses are protected from the destructive forces of the capital cycle. Capital returns is a comprehensive introduction to the theory and practical implementation of the capital cycle approach to investment. Edited and with an introduction by Edward Chancellor, the book brings together 60 of the most insightful reports written between 2002 and 2014 by marathon portfolio managers. Capital returns provides key insights into the capital cycle strategy, all supported with real life examples from global brewers to the semiconductor industry - showing how this approach can be usefully applied to different industry conditions and how, prior to 2008, It helped protect assets from financial catastrophe. This book will be a welcome reference for serious investors who looking to maximise portfolio returns over the long run.
.

• Book Type :

Help

• Book Binding :

Paperback

• Language :

English

• Number of Pages :

• ISBN - 10 :

1349959022

• Capital Returns Published On :

Jul 2019

• Resource:

Business & Economics, Business Self, Help Books for Students, Teachers, Graudates, Professionals and all others

Disclaimer:

• Capital Returns Book is not for reading online or for free download in PDF or eBook format.
• Table of Contents,Index,Syllabus,summary and image of Capital Returns book may be of a different edition or of the same title.
• Price can change due to reprinting, price change by publisher or sourcing cost change for imported books.
• Capital Returns by Author: Book reviews and ratings are trustworthy and product description given above are true to the best. Product Description posted here by sellers would be updated based on the Customers feedback, if the details are not accurate.
• Customers who bought this product can write your best reviews and suggest the product if the item's price is low which would be helpful for the buyers interested to purchase. Read Best & Top Books related to this item
• The above Bibliographic information is specific to this book listed for sale
• Special offers, deals & discounts on this product are subject to the terms and conditions of the website