Capital Returns
Investing Through the Capital Cycle, captures the essence of the capital cycle approach to investing.
Gautam Baid • The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series)
New technologies often interfere with the smooth operation of the capital cycle.
Edward Chancellor • Capital Returns
capital investment brings a return in excess of the cost of capital;
Charles Eisenstein • Sacred Economics: Money, Gift, and Society in the Age of Transition
Marathon’s private ownership and longstanding client relationships enable the firm to adopt a long-term approach, more tolerant of benchmark deviation, which is necessary to apply capital cycle analysis.
Edward Chancellor • Capital Returns
This, in turn, enables excess returns on invested capital for long periods of time (also known as the competitive advantage period, CAP).