Capital Account relates the story of the world's greatest investment bubble from the perspective of professional investors. The book, comprised of selected reports from Marathon Asset Management, a successful global investment firm, explains how shareholder value - the notion that companies should be run in the interests of their shareholders - became corrupted in this era of frenzied finance. Senior managers, succumbing to the lure of stock option fortunes, took to manipulating their company's earnings. Professional ...
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Capital Account relates the story of the world's greatest investment bubble from the perspective of professional investors. The book, comprised of selected reports from Marathon Asset Management, a successful global investment firm, explains how shareholder value - the notion that companies should be run in the interests of their shareholders - became corrupted in this era of frenzied finance. Senior managers, succumbing to the lure of stock option fortunes, took to manipulating their company's earnings. Professional investors, interested only in maintaining their investment performance over the next quarter, were willing abettors. The 'croupiers' of Wall Street, also know as investment bankers, whipped up the euphoria and peddled to investors superficially plausible stories, 'MacGuffins', in order to generate huge fees for themselves. As a result, by the turn of the century almost the entire investment community had become fixated with chasing short-term profits at the expense of long-term returns for clients. By the end of 2002 this cynical game had ended in investment disaster- the world's stock markets having produced more than $15 trillion of losses since their peak. Yet to a large extent, the outcome was predictable to those investors who had retained a disciplined approach to investment analysis throughout the bull market. This book introduces the 'capital cycle' approach to investment - an approach that brings together ideas from the fields of behavioral finance, economic theory and business analysis. Capital cycle analysis - based on the apparently simple insight that investor euphoria leads to excessive investment in the real world and subsequent poor returns for shareholders - enabled Marathon to identify at an early stage the inevitable collapse of the technology and telecoms bubble.
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Add this copy of Capital Account: a Fund Manager Reports on a Turbulent to cart. $525.00, very good condition, Sold by Salish Sea Books rated 5.0 out of 5 stars, ships from Bellingham, WA, UNITED STATES, published 2004 by Texere Publishing.
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Very Good+ in a Very Good+ dust jacket; Hardcover; Dust jacket is clean and glossy with no scuffs or tears, and has not been price-clipped (Now fitted with a new, Brodart jacket protector); Very light wear to the boards with "straight" edge-corners; Unblemished textblock edges; The endpapers and text pages are all clean and unmarked; The binding is excellent with a straight spine; This book will be shipped in a sturdy cardboard box with foam padding; Medium Format (8.5"-9.75" tall); 1.4 lbs; Gray and white dust jacket with title in red and black lettering; 2004, Texere Publishing; 272 pages; "Capital Account: A Fund Manager Reports on a Turbulent Decade, 1993-2002, " by Edward Chancellor.
Add this copy of Capital Account: a Fund Manager Reports on a Turbulent to cart. $525.96, good condition, Sold by HPB-Red rated 5.0 out of 5 stars, ships from Dallas, TX, UNITED STATES, published 2004 by Texere.
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Add this copy of Capital Account: a Fund Manager Reports on a Turbulent to cart. $575.00, very good condition, Sold by Salish Sea Books rated 5.0 out of 5 stars, ships from Bellingham, WA, UNITED STATES, published 2004 by Texere Publishing.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Very Good+ in a Very Good+ dust jacket; Hardcover; Dust jacket is clean and glossy with no tears, and has not been price-clipped (Now fitted with a new, Brodart jacket protector); Light wear to the boards; The textblock edges are unblemished; The endpapers and all text pages are clean and unmarked; The binding is excellent with a straight spine; This book will be shipped in a sturdy cardboard box with foam padding; Medium Format (8.5"-9.75" tall); 1.4 lbs; Gray and white dust jacket with title in red and black lettering; 2004, Texere Publishing; 272 pages; "Capital Account: A Fund Manager Reports on a Turbulent Decade, 1993-2002, " by Edward Chancellor.
Add this copy of Capital Account: a Fund Manager Reports on a Turbulent to cart. $595.00, very good condition, Sold by Salish Sea Books rated 5.0 out of 5 stars, ships from Bellingham, WA, UNITED STATES, published 2004 by Texere Publishing.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
Very Good++ in a Very Good++ dust jacket; Hardcover; Dust jacket is clean and glossy with no tears, and has not been price-clipped (Now fitted with a new, Brodart jacket protector); Unmarked boards with "sharp" edge-corners; The textblock edges are unblemished; The endpapers and all text pages are clean and unmarked; The binding is tight with a straight spine; This book will be shipped in a sturdy cardboard box with foam padding; Medium Format (8.5"-9.75" tall); 1.4 lbs; Gray and white dust jacket with title in red and black lettering; 2004, Texere Publishing; 272 pages; "Capital Account: A Fund Manager Reports on a Turbulent Decade, 1993-2002, " by Edward Chancellor.
Add this copy of Capital Account: a Fund Manager Reports on a Turbulent to cart. $765.00, good condition, Sold by Found Books rated 5.0 out of 5 stars, ships from AUSTIN, TX, UNITED STATES, published 2004 by Texere.
Add this copy of Capital Account: A Money Manager's Reports from a to cart. $1,299.00, very good condition, Sold by Found Books rated 5.0 out of 5 stars, ships from AUSTIN, TX, UNITED STATES, published 2004 by Texere Publishing.
