Rendimientos del capital

We live in an era where bubbles burst causing billions of dollars in losses to investors. Economists argue that these can only be detected once they have exploded and that market movements are unpredictable. But Marathon Asset Management, a London-based firm that manages $ 50 billion in assets, has developed a simple way to identify and avoid bubbles: keep track of the investment. For the investor, large or small, the key is not to invest in sectors where investment spending is excessive and there is fierce competition, and instead place the money where competitive conditions are more favorable and, consequently , the returns on investment are higher. This book, which collects Marathon Asset Management's market analysis, which has enabled it to achieve great returns on little-known operations and outside the destructive forces of the capital cycle, offers keys to understanding and developing capital cycle strategy. And it does so from real examples in sectors ranging from breweries to the semiconductor industry.