Overview

As the stock market continues to plummet to new depths, a new reality-based approach to investment is required. This must take account of the lessons learned form the over-pricing, over-hyping of the 1990s which was perpetrated by many banks and analysts. Marathon Asset Management's capital cycle approach is just such a tool. Revealed and explained by means of a series of client reports written throughout the boom and bust years, and given context by the acclaimed financial writer Edward Chancellor, Marathon's capital cycle analytical tool should help investors to avoid stock market bubbles in future or identify undervalued shares in a bear market. The facts speak for themselves: since 1997 the world has been witness to one of the greatest financial boom and bust periods in history. Few institutions have weathered the storm with their, or their clients, money intact. Through the application of a unique investment approach, Marathon have emerged successfully from the shadow of the market collapse. This book reveals how this was achieved. In this book, editor Edward Chancellor takes Marathon's own highly entertaining and candid client reports and analyses them to chart the effectiveness of Marathon's thinking and strategies as the events of the boom and bust period unfolded. These reports provide an often humorous, sometimes shocking (how the financial world brought the markets crashing down around itself by being blind to reality, being overly greedy and by indulging in excessive hyping), and always informative account of the world of finance as it attempted to weather unprecedented upheaval.

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9781587991806

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In todayas financial markets, heavily populated by momentum traders, chartists and closet indexers, investors are a rare breed. This book, written by investors, is a good guide for people trying to understand how markets work.

Author Information

Edward Chancellor is the author of Devil Take the Hindmost: A History of Financial Speculation (FSG, 1999), a New York Times 'Notable Book of the Year' and recently ranked as one of six indispensable investment classics by Money magazine. He has contributed to a variety of publications including The Economist, Financial Times and The Wall Street Journal and is currently a columnist for Breakingviews, the award-winning financial commentary service. Marathon Asset Management (trading in the United States as Marathon-London) is an independent, owner-managed investment firm based in London. Founded in 1986 by William Arah, Jeremy Hosking and Neil Ostrer, Marathon has successfully applied longer-term and often contrarian investment strategies around the globe.

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