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The Nature of Value presents a theory of how economic value functions and how it drives growth, starting with tiny sparks of innovation and scaling all the way up to the full scope of the economy. Nick Gogertys exploration of value borrows from a wide array of disciplines, including anthropology, psychology, physics, sociology, and ethics, but most of all, it examines how evolutions processes can help investors understand the economy and how investors can use this new understanding to improve their allocation decisions.
List of contents
Preface
Part I: Value1. The Problem with Price? It's Not Value
2. Value and Why It Matters
3. The Theory of Value
Part II: Inos4. Knowledge and Innovation
5. How Innovative Capabilities Enable Value Creation
6. Allocating to Firms with a Unique Capability Mix
Part III: Clusters7. Birth and Growth of Clusters
8. Cluster Convergence, Maturation, and Death
9. Stable and Unstable Clusters
Part IV: Moats10. The Value of Moats
11. How Moats Affect Cost, Competition, and Customer Forces
12. Managing Moats, for Value Creation Today and Wealth Tomorrow
Part V: The Economy13. The Economy as a Macroprocessing Network
14. Monetary Shocks and Their Implications for the Allocator
Part VI: The Nature of Value15. The Nature of Value Allocation
16. Conclusion
Notes
Index
About the author
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 a serial entrepreneur at the convergence of technology and media. He is deeply interested in growing sustainable economic value and reducing global poverty.
Report
"In the great tradition of Charlie Mungers Worldly Wisdom, Gogerty delivers a multidisciplinary approach to finding investment value. Through brilliant graphics and a unique lens, Gogerty educates the reader on how to discern investment opportunities that goes well beyond currently report financial results to gain insights into how value shifts over time. Any investor that feels that current the value investing paradigm is lacking in its ability to navigate our ever increasingly complex world will benefit from the tools Gogerty offers." - Paul Johnson, Columbia University Graduate School of Business
