Slow Finance: Why Investment Miles Matter
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Review
Could the world of investment soon become akin to the Slow Food movement? It might sound strange but don t bet against it, particularly if that s what the former Gartmore star fund manager Gervais Williams says. Now at MAM Funds, the small-cap specialist will surely win plaudits in Westminster for arguing in his first book Slow Finance that investors are most likely to get best returns by focusing on areas of sustainable expansion rather than looking for a fast buck. Very on trend. Peter Stiff, The Times
Slow Finance is the antidote to dizzying markets. After the Slow Food movement, which says no to fast-food chains such as McDonald s and advocates buying local, here comes the Slow Finance movement...the book Slow Finance, written by the veteran City of London fund manager Gervais Williams, late of Gartmore, has only just landed, but is appealing amid these dizzying markets and a challenge to the tenets of the globalised finance industry. (...) Slow Finance is the antivenom to years of poisonous developments in the industry, where private investors have been encouraged to lever up and to churn their speculative portfolios on an obsessive basis- all the kinds of activities that line the pockets of the lenders and brokers and do nothing to allocate capital in the real economy. I hope the Slow Finance movement catches on, and fast. - Stephen Foley, The Independent
Get in the slow lane for bigger returns...investors need to act more like the tortoise and less like the hare if they are to come out of the economic doldrums with a healthy gain. That is the conclusion of renowned fund manager Gervais Williams. The MAM manager has released a book called Slow Finance, encouraging investors not to be swayed by the rapid- and unsustainable- growth of the past 25 years but instead advocating buying into small companies, reinvesting income and reaping the rewards. Emma Wall, The Sunday Telegraph
`Before buying or selling another share, investors should read Slow Finance... This well-researched and thought-provoking book is a "must read" for all serious investors, especially during these uncertain times.' --Paul Marsh, Emeritus Professor of Finance, London Business School
`Slow Finance raises fundamental questions over the real purpose of savings. Local investment can boost domestic job creation and national growth at a time when we need it most. This book is a real breath of fresh air, since there are better ways to be successful.' --Rob Senior, CEO, Saatchi & Saatchi
'Slow Finance is the engine for sustained economic growth and job creation.'
--Tim Ward, Chief Executive, Quoted Companies Alliance
Slow Finance is the antidote to dizzying markets. After the Slow Food movement, which says no to fast-food chains such as McDonald s and advocates buying local, here comes the Slow Finance movement...the book Slow Finance, written by the veteran City of London fund manager Gervais Williams, late of Gartmore, has only just landed, but is appealing amid these dizzying markets and a challenge to the tenets of the globalised finance industry. (...) Slow Finance is the antivenom to years of poisonous developments in the industry, where private investors have been encouraged to lever up and to churn their speculative portfolios on an obsessive basis- all the kinds of activities that line the pockets of the lenders and brokers and do nothing to allocate capital in the real economy. I hope the Slow Finance movement catches on, and fast. - Stephen Foley, The Independent
Get in the slow lane for bigger returns...investors need to act more like the tortoise and less like the hare if they are to come out of the economic doldrums with a healthy gain. That is the conclusion of renowned fund manager Gervais Williams. The MAM manager has released a book called Slow Finance, encouraging investors not to be swayed by the rapid- and unsustainable- growth of the past 25 years but instead advocating buying into small companies, reinvesting income and reaping the rewards. Emma Wall, The Sunday Telegraph
`Before buying or selling another share, investors should read Slow Finance... This well-researched and thought-provoking book is a "must read" for all serious investors, especially during these uncertain times.' --Paul Marsh, Emeritus Professor of Finance, London Business School
`Slow Finance raises fundamental questions over the real purpose of savings. Local investment can boost domestic job creation and national growth at a time when we need it most. This book is a real breath of fresh air, since there are better ways to be successful.' --Rob Senior, CEO, Saatchi & Saatchi
'Slow Finance is the engine for sustained economic growth and job creation.'
--Tim Ward, Chief Executive, Quoted Companies Alliance
Product Description
Drawing on the principles of the Slow Movement, which advocates a return to local, sustainable ways of living, Slow Finance reveals the true scale of the imbalances within the world equity markets, in the context of the trends of the last 20 years. Slow Finance draws direct parallels between the adverse effects of globalisation on food production, and those of the investment world. Rather than acting as disengaged speculators hoping to get lucky, this book argues that it is now in our interests to return to straightforward 'slow' movement truths such as local investment and organic growth. Slow Finance will help readers who are managing their pension fund or their savings to articulate why investment capital should be redirected from the bubble markets of China and Eastern Europe to domestic businesses, in the process boosting local growth and employment.
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Most Helpful Customer Reviews
4 of 4 people found the following review helpful
Format:Hardcover
A really good read. Different from a lot of other business books:- actual facts and statistics are clearly stated (not manipulated as often they are!) to support a well thought-out set of arguments and philosophies clearly based upon personal experience, much thought and a clearly developed set of beliefs.
Among many of the compelling points the author makes are two, rarely reported on:-
1. The issues of provision of credit by the banks to smaller companies. The banks "have tended to ask for very high interest rates and arrangement fees". Many companies are still suffering under this "yoke" - my own experience is that the state-owned bank, RBS (appropriately called `The Bank that Sank' on The Times' front page headline, 20th January 2009) has been a tough bank for smaller companies to deal with. Back in 2009, I had to elicit Peter Mandelson's personal assistance with this `state-owned' bank before re-banking albeit on tough terms!
2. Over the period of the credit boom the investor has become remote from direct investing. Up to a few years ago, I knew people who thought it was wonderful (and somehow a reflection of their own `magical' abilities) that they were accumulating more wealth by the appreciating value of their home than the amount of money they were earning/accumulating from their job!!
Among many of the compelling points the author makes are two, rarely reported on:-
1. The issues of provision of credit by the banks to smaller companies. The banks "have tended to ask for very high interest rates and arrangement fees". Many companies are still suffering under this "yoke" - my own experience is that the state-owned bank, RBS (appropriately called `The Bank that Sank' on The Times' front page headline, 20th January 2009) has been a tough bank for smaller companies to deal with. Back in 2009, I had to elicit Peter Mandelson's personal assistance with this `state-owned' bank before re-banking albeit on tough terms!
2. Over the period of the credit boom the investor has become remote from direct investing. Up to a few years ago, I knew people who thought it was wonderful (and somehow a reflection of their own `magical' abilities) that they were accumulating more wealth by the appreciating value of their home than the amount of money they were earning/accumulating from their job!!
3 of 3 people found the following review helpful
Format:Hardcover
Thought provoking treatise with two main sections. Firstly a discussion on the mess that modern finance has got us into and the mindbogglingly large amount of zero sum gain "financial instruments" which have been invented in the pursuit of fast finance ($300,000 for every man woman and child on the planet). Secondly useful and usable ideas on how Joe Bloggs can manage his personal wealth avoiding the pitfalls of bigness and fastness and win out in the long term. Ought to be read by fast financiers who will not enjoy it. More likely to be read by mere mortals like myself who will enjoy and learn from it.
3 of 3 people found the following review helpful
Format:Hardcover|Amazon Verified Purchase
The subject may be 'Slow Finance' but Gervais Williams writes so well about complex financial matters you keep turning the pages. The link between the changes in food production and financial products is well made. Could Mr Williams be the Jamie Oliver of the City?
He explains the need for change in simple and persuasive terms - his arguments are as easy to follow as articles in The Economist. Mr Williams is a good ambassador for the world of high finance. He says why things went wrong and argues that a return to fundamental values will still reward investors in the future.
He explains the need for change in simple and persuasive terms - his arguments are as easy to follow as articles in The Economist. Mr Williams is a good ambassador for the world of high finance. He says why things went wrong and argues that a return to fundamental values will still reward investors in the future.
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