The Nature of Value: How to Invest in the Adaptive Economy

Hardcover | July 8, 2014

byNick Gogerty

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Using evolution as the template to understand growth, The Nature of Value takes a first-principles approach to explore the parallels between economic and ecological systems. Not only does Gogerty show how value is born out of tiny sparks of adaptive innovation, but he also explores the full scope of the economy as a complex network. He borrows from an array of disciplines-including anthropology, psychology, ecology, physics, sociology, and ethics-and, most revealing of all, examines how evolution's processes can help investors avoid risk and improve their allocation decisions.

Starting with a look at how innovation creates value for firms, Gogerty considers the economic niches where companies compete and explores how they can create defensive moats to enhance their ability to survive. Throughout the book, Gogerty demonstrates how this ecological understanding of the economy can help allocators improve their performance, supporting his arguments with extensive data and years of practitioner experience from scientific, social, and economic disciplines. Gogerty's practical takeaways, couched in vivid explanations and accompanied by intuitive illustrations, help investors of all backgrounds gain fresh insight into the behavior of corporations and the economy in general.

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From the Publisher

Using evolution as the template to understand growth, The Nature of Value takes a first-principles approach to explore the parallels between economic and ecological systems. Not only does Gogerty show how value is born out of tiny sparks of adaptive innovation, but he also explores the full scope of the economy as a complex network. H...

Nick Gogerty is a private account strategist and general problem solver for the world's leading hedge funds, banks, technology firms, and scientific research institutes. He has worked as a quantitative developer and trader on a proprietary foreign exchange desk in London, advised major institutions and the government on risk, and been...
Format:HardcoverDimensions:368 pages, 9 × 6 × 0.98 inPublished:July 8, 2014Publisher:Columbia University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0231162448

ISBN - 13:9780231162449

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Customer Reviews of The Nature of Value: How to Invest in the Adaptive Economy

Reviews

Rated 4 out of 5 by from Absolutely a good read I knew nothing about investing, and probably still don't, but now I'll be less interested in all the noise and bumps in the stock market. I also got a different perspective on economy as a whole, and how value trickles down the ecosystems to the consumer. Great book!
Date published: 2014-09-25

Extra Content

Read from the Book

Read the chapter, "The Problem with Price? It's Not Value":

Table of Contents

PrefacePart I: Value1. The Problem with Price? It's Not Value2. Value and Why It Matters3. The Theory of ValuePart II: Inos4. Knowledge and Innovation5. How Innovative Capabilities Enable Value Creation6. Allocating to Firms with a Unique Capability MixPart III: Clusters7. Birth and Growth of Clusters8. Cluster Convergence, Maturation, and Death9. Stable and Unstable ClustersPart IV: Moats10. The Value of Moats11. How Moats Affect Cost, Competition, and Customer Forces12. Managing Moats, for Value Creation Today and Wealth TomorrowPart V: The Economy13. The Economy as a Macroprocessing Network14. Monetary Shocks and Their Implications for the AllocatorPart VI: The Nature of Value15. The Nature of Value Allocation16. ConclusionNotesIndex

Editorial Reviews

Lucid and thought-provoking... The Nature of Value will help all investors attain a more robust understanding of the dynamics that create and sustain value.