Edward Chancellor – författare & böcker

Making of a Permabear

The Perils of Long-term Investing in a Short-term World

Inbunden, Engelska, 2026

249 kr

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'[A] fine and essential work' Wall Street Journal'Insightful and droll' Financial TimesWhen Jeremy Grantham entered the investment business in the 1960s, he brought the thrifty Yorkshire values he had been raised with. While other money managers focused on blue chip stocks, he studied stock market history and constructed the first indices for small-cap and value stocks. Charting their ebb and flow, he saw the powerful force that would become central to his investment philosophy: mean reversion, 'the heartbreaking principle that good times always revert back to more boring, more ordinary times.'In the early 1970s Grantham launched one of the first S&P 500 index strategies. Soon after, he cofounded GMO, which became the first firm to use a computer for investment analysis. In the late 1990s he acquired notoriety as a 'permabear' for refusing to buy into dotcom mania. Clients left in droves, but he was vindicated when the bubble burst in 2000. Yet while his wealth grew, so did his alarm at the disastrous consequences of short-term thinking for both investors and for the planet, and he has directed nearly all his wealth to environmental protection.Written with the bestselling financial historian Edward Chancellor, The Making of a Permabear is replete with investment insights and provides a candid insider's tour of the booms and busts of the past half century.

Price of Time

The Real Story of Interest

AvEdward Chancellor

Häftad, Engelska, 2023

141 kr

Skickas

The first book of the next crisis. A history of interest rates by a leading financial commentator, updated with a new postscript.*Winner of the 2023 Hayek Book Prize**Longlisted for the 2022 Financial Times Business Book of the Year Award*All economic and financial activities take place across time. Interest coordinates these activities. The story of capitalism is thus the story of interest: the price that individuals, companies and nations pay to borrow money.In The Price of Time, Edward Chancellor traces the history of interest from its origins in ancient Mesopotamia, through debates about usury in Restoration Britain and John Law ' s ill-fated Mississippi scheme, to the global credit booms of the twenty-first century. We generally assume that high interest rates are harmful, but Chancellor argues that, whenever money is too easy, financial markets become unstable. He takes the story to the present day, when interest rates have sunk lower than at any time in the five millennia since they were first recorded - including the extraordinary appearance of negative rates in Europe and Japan - and highlights how this has contributed to profound economic insecurity and financial fragility.Chancellor reveals how extremely low interest rates not only create asset price inflation but are also largely responsible for weak economic growth, rising inequality, zombie companies, elevated debt levels and the pensions crises that have afflicted the West in recent years - conditions under which economies cannot possibly thrive. At the same time, easy money in China has inflated an epic real estate bubble, accompanied by the greatest credit and investment boom in history. As the global financial system edges closer to yet another crisis, Chancellor shows that only by understanding interest can we hope to face the challenges ahead.

David Abulafia, Ali Ansari, Richard Bratby, Mary Bridges, Caroline Burt, David Butterfield, Edward Chancellor, Marie Kawthar Daouda, Eloise Davies, Ulrike Franke, Francis J. Gavin, Magnus Henrekson, William Inboden, Shashank Joshi, Knut N. Kjaer, Kwasi Kwarteng, Charlie Laderman, Ian Leslie, Nicklas Berild Lundblad, Iain Martin, Jade McGlynn, Mario Pisani, Alina Polyakova, Sergey Radchenko, Mick Ryan, Paul Tucker, Rikard Westerberg, Adrian Wooldridge, David Wootton, Linda Yueh - Marknaden : kapital, stater och tankar om en fri värld, Inbunden

Marknaden : kapital, stater och tankar om en fri värld

AvDavid Abulafia,Ali Ansarim. fl.

Inbunden, Svenska, 2026

279 kr

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Från det romerska torget till digitala valutor – hur har marknaden utvecklats under historiens gång och hur kan den komma att se ut i framtiden? Denna antologi gör en djupdykning i marknadsutvecklingen och tittar närmare på marknaders avgörande roll i att utforma samtiden men tar också upp den brännande frågan om hur vi ska navigera mot en hållbar framtid.

I tankeväckande essäer skrivna av internationella forskare, politiker och andra sakkunniga utforskas marknadens dynamik. Med utgångspunkt i de antika torgen och i det medeltida Europas marknader undersöker författarna hur tekniska framsteg, konsumentbeteende och geopolitisk strategi – till exempel den politik som utövades under Reagan-eran – har format nutida marknader. Slutligen tar boken upp de utmaningar för stabiliteten på marknaden som utgörs av auktoritära stater och AI.

Boken finns även i engelsk utgåva, The Market.

Capital Returns

Investing Through the Capital Cycle: A Money Manager’s Reports 2002-15

AvEdward Chancellor

Inbunden, Engelska, 2015

767 kr

Skickas inom 5-8 vardagar

We live in an age of serial asset bubbles and spectacular busts. Economists, policymakers, central bankers and most people in the financial world have been blindsided by these busts, while investors have lost trillions. Economists argue that bubbles can only be spotted after they burst and that market moves are unpredictable. Yet Marathon Asset Management, a London-based investment firm managing over $50 billion of assets has developed a relatively simple method for identifying and potentially avoiding them: follow the money, or rather the trail of investment. Bubbles whether they affect a whole economy or merely a single industry, tend to attract a splurge of capital spending. 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 Buffett 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.

Price of Time

The Real Story of Interest

AvEdward Chancellor

Inbunden, Engelska, 2022

338 kr

Skickas inom 3-6 vardagar

Price of Time

The Real Story of Interest

AvEdward Chancellor

Häftad, Engelska, 2026

253 kr

Skickas inom 3-6 vardagar

Capital Returns

Investing Through the Capital Cycle: A Money Manager’s Reports 2002-15

AvEdward Chancellor

E-bok

PDF, Engelska, 2016

944 kr

Läs direkt efter köp

We live in an age of serial asset bubbles and spectacular busts. Economists, policymakers, central bankers and most people in the financial world have been blindsided by these busts, while investors have lost trillions. Economists argue that bubbles can only be spotted after they burst and that market moves are unpredictable. Yet Marathon Asset Management, a London-based investment firm managing over $50 billion of assets has developed a relatively simple method for identifying and potentially avoiding them: follow the money, or rather the trail of investment. Bubbles whether they affect a whole economy or merely a single industry, tend to attract a splurge of capital spending. 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 Buffett 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.

Price of Time

The Real Story of Interest

AvEdward Chancellor

E-bok

Engelska, 2022

118 kr

Läs direkt efter köp

The first book of the next crisis. A history of interest rates by a leading financial commentator, updated with a new postscript.*Winner of the 2023 Hayek Book Prize**Longlisted for the 2022 Financial Times Business Book of the Year Award*All economic and financial activities take place across time. Interest coordinates these activities. The story of capitalism is thus the story of interest: the price that individuals, companies and nations pay to borrow money.In The Price of Time, Edward Chancellor traces the history of interest from its origins in ancient Mesopotamia, through debates about usury in Restoration Britain and John Law ' s ill-fated Mississippi scheme, to the global credit booms of the twenty-first century. We generally assume that high interest rates are harmful, but Chancellor argues that, whenever money is too easy, financial markets become unstable. He takes the story to the present day, when interest rates have sunk lower than at any time in the five millennia since they were first recorded - including the extraordinary appearance of negative rates in Europe and Japan - and highlights how this has contributed to profound economic insecurity and financial fragility.Chancellor reveals how extremely low interest rates not only create asset price inflation but are also largely responsible for weak economic growth, rising inequality, zombie companies, elevated debt levels and the pensions crises that have afflicted the West in recent years - conditions under which economies cannot possibly thrive. At the same time, easy money in China has inflated an epic real estate bubble, accompanied by the greatest credit and investment boom in history. As the global financial system edges closer to yet another crisis, Chancellor shows that only by understanding interest can we hope to face the challenges ahead.

Price of Time

The Real Story of Interest

AvEdward Chancellor

Ljudbok

Engelska, 2022

199 kr

Lyssna direkt efter köp

Brought to you by Penguin.The first book of the next crisis.All economic and financial activities take place across time. Interest coordinates these activities. The story of capitalism is thus the story of interest: the price that individuals, companies and nations pay to borrow money.In The Price of Time, Edward Chancellor traces the history of interest from its origins in ancient Mesopotamia, through debates about usury in Restoration Britain and John Law '' s ill-fated Mississippi scheme, to the global credit booms of the twenty-first century. We generally assume that high interest rates are harmful, but Chancellor argues that, whenever money is too easy, financial markets become unstable. He takes the story to the present day, when interest rates have sunk lower than at any time in the five millennia since they were first recorded - including the extraordinary appearance of negative rates in Europe and Japan - and highlights how this has contributed to profound economic insecurity and financial fragility.Chancellor reveals how extremely low interest rates not only create asset price inflation but are also largely responsible for weak economic growth, rising inequality, zombie companies, elevated debt levels and the pensions crises that have afflicted the West in recent years - conditions under which economies cannot possibly thrive. At the same time, easy money in China has inflated an epic real estate bubble, accompanied by the greatest credit and investment boom in history. As the global financial system edges closer to yet another crisis, Chancellor shows that only by understanding interest can we hope to face the challenges ahead.© Edward Chancellor 2022 (P) Penguin Audio 2022

Devil Take the Hindmost

A History of Financial Speculation

AvEdward Chancellor

Häftad, Engelska, 2027

160 kr

Kommande

In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to the publicani of ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland and ‘stockjobbing’ in London's Exchange Alley, to the infamous South Sea Bubble of 1720, which prompted Sir Isaac Newton to comment, 'I can calculate the motion of heavenly bodies, but not the madness of people.'This revised and updated edition analyses with characteristic liveliness and precision the end of the dot-com bubble, the property value speculations that culminated in the 2008 financial crisis, the ‘Everything Bubble’ of the pandemic years and the gigantic speculations of Artificial Intelligence.This is the story of human hopes and folly through the ages, populated by brokers underwriting risks that included highway robbery and the 'assurance of female chastity'; credit notes and lottery tickets circulating as money; wise and unwise investors from Alexander Pope and Benjamin Disraeli to Hillary Rodham Clinton and well-known leaders of our own time.

Linda Yueh, David Wootton, Adrian Wooldridge, Rikard Westerberg, Paul Tucker, Mick Ryan, Sergey Radchenko, Alina Polyakova, Mario Pisani, Jade McGlynn, Iain Martin, Nicklas Berild Lundblad, Ian Leslie, Charlie Laderman, Kwasi Kwarteng, Knut N. Kjaer, Shashank Joshi, William Inboden, Magnus Henrekson, Francis J. Gavin, Ulrike Franke, Eloise Davies, Marie Kawthar Daouda, Edward Chancellor, David Butterfield, Caroline Burt, Mary Bridges, Richard Bratby, Ali Ansari, David Abulafia, Francis J Gavin - The market : money, states and ideas for a free world, Inbunden

The market : money, states and ideas for a free world

Money, States and Ideas for a Free World

AvLinda Yueh,David Woottonm. fl.

Inbunden, Engelska, 2025

259 kr

Skickas

Från det romerska torget till digitala valutor hur har marknaden utvecklats under historiens gång och hur kan den komma att se ut i framtiden? Denna antologi gör en djupdykning i marknadsutvecklingen och tittar närmare på marknaders avgörande roll i att utforma samtiden men tar också upp den brännande frågan om hur vi ska navigera fram till en hållbar framtid.

I tankeväckande essäer skrivna av internationella forskare, politiker och sakkunniga utforskas marknadens dynamik under tre kritiska faser: i går, i dag och i morgon. Med utgångspunkt i det antika Greklands torg och i det medeltida Europas marknader undersöker författarna hur tekniska framsteg, konsumentbeteende och geopolitisk strategi till exempel den politik som utövades under Reagan-eran har format nutida marknader. Slutligen tar boken upp de utmaningar för stabiliteten på marknaden som utgörs av till exempel auktoritära stater och AI.