Valuing the Future A conversation about investment and over 2 million other books are available for Amazon Kindle . Learn more
£12.50
FREE Delivery in the UK.
Only 1 left in stock (more on the way).
Dispatched from and sold by Amazon.
Gift-wrap available.
Quantity:1
Valuing the Future. a Con... has been added to your Basket
Have one to sell?
Flip to back Flip to front
Listen Playing... Paused   You're listening to a sample of the Audible audio edition.
Learn more
See this image

Valuing the Future. a Conversation about Investment Paperback – 31 Jan 2012


See all 3 formats and editions Hide other formats and editions
Amazon Price New from Used from
Kindle Edition
"Please retry"
Paperback
"Please retry"
£12.50
£9.20 £14.16
£12.50 FREE Delivery in the UK. Only 1 left in stock (more on the way). Dispatched from and sold by Amazon. Gift-wrap available.


Product details

  • Paperback: 250 pages
  • Publisher: Sociables Publishing (31 Jan 2012)
  • Language: English
  • ISBN-10: 0957039611
  • ISBN-13: 978-0957039612
  • Product Dimensions: 14 x 1.3 x 21.6 cm
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (10 customer reviews)
  • Amazon Bestsellers Rank: 2,119,736 in Books (See Top 100 in Books)
  • See Complete Table of Contents

More About the Author

Discover books, learn about writers, and more.

Product Description

From the Back Cover

The book is a dialogue between a money manager and a young man who asks whether or not he should invest.

Their conversation explores

* How `for money' and `not-for-money' investment differ;
* How accounting and economic assets compare with social and natural assets;
* How time is central to all of investment, building capabilities in the present which can deliver resources in the future;
* How banks collectively create and destroy money;
* How the yield curve shows the market interest rates for financial assets of different durations;
* How competitive advantage is important in determining the returns achieved on real assets;
* How `fundamental value' differs from price, or what someone is prepared to pay;
* How `fundamental analysis' and `technical analysis' of price data provide insights into risk;
* How mean-variance analysis of price data is the conventional approach to risk;
* How the economic ecosystem creates prices
* How capitalism may be a lousy system and yet the best available as it adapts continuously to align money prices and human values.

About the Author

Ben Paton is an investment management professional. He worked for Fidelity Investments in London for thirteen years where he specialized in equity investment. Between 2004 and 2008 he was the lead fund manager for the Fidelity International Smaller Companies Fund, a US mutual fund which significantly outperformed its benchmark.

Ben is particularly interested in creating economic value by developing projects in smaller companies and has a track record of successfully backing management in the resources and technology sectors.

He has broad experience advising on capital raising and business development.

Professional experience
Ben worked for Fidelity Investments in London between 1995 and 2008. He launched the Fidelity Enterprise Value Fund in June 2002, a UK equity fund with a value mandate which re ran until 2008. He took over management on the European and EMEA portion of the Fidelity International Small Cap Fund, a US mutual fund in January, 2004. He was responsible for Pan European equity research on the Leisure and Hotels sector, the Insurance sector, the Software and Computer Services sector and the Defence and Aerospace sectors.

Education
Ben has an MBA from London Business School prior to which he worked in corporate finance and venture capital in London and Paris. He qualified as a Chartered Accountant with Peat Marwick after studying History & Economics at Christ Church, Oxford.

Ben Paton is an investment management professional. He worked for Fidelity Investments in London for thirteen years where he specialized in equity investment. Between 2004 and 2008 he was the lead fund manager for the Fidelity International Smaller Companies Fund, a US mutual fund which significantly outperformed its benchmark.
Ben has an MBA from London Business School prior to which he worked in corporate finance and venture capital in London and Paris. He qualified as a Chartered Accountant with Peat Marwick after studying History & Economics at Oxford.
His interests include enjoying his family, taming his garden, reading, skiing and listening to music

Customer Reviews

4.6 out of 5 stars
5 star
9
4 star
0
3 star
0
2 star
0
1 star
1
See all 10 customer reviews
Share your thoughts with other customers

Most Helpful Customer Reviews

2 of 2 people found the following review helpful By Marcus Edwards-Jones on 11 April 2012
Format: Hardcover Verified Purchase
This book explains the point of an industry regarded by many as a pointless paper-shuffling exercise, which unjustifiably enriches a small group of nerds and chest-beating speculators, and routinely spits out and discards those who don't make the grade. Ben brings together his knowledge of history, economics, literature and social anthropology, as well as twenty seven years of industry experience, to get to the heart of the matter of investment. This is an essential and not unentertaining read for anyone studying PPE, economics or a business-related degree, or lucky enough to be embarking upon a career in the capital markets. As CEO of a stockbroking firm I will make sure that all my analysts and sales staff have read and understood this book, and would encourage others to do the same.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
2 of 2 people found the following review helpful By Stephen D. Dias on 30 Mar 2012
Format: Hardcover
This is the first book on investment that I have read in my long career in investments that examines critically the thinking process that has to be embarked on before making an investment. It should be of interest to the general layman, investment professionals and students of philosophy alike and in this respect the style of the book as a conversation is particularly appropriate. The author uses this style cleverly to reinforce important concepts in investments. One should come away clearly understanding the difference between value and price and therefore the need for a long term approach to investments with no 'quick money' solutions. The notion of risk and its relationship to value is very clearly elucidated It also examines the key drivers of value in different industries although the reader would clearly have to do more work before making any specific investment. Although a few pages may be a little difficult to read at first nothing is lost in either skipping over these or returning to them later. A book that is technical but not onerously so and strangely for books of this genre an entertaining read!
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
2 of 2 people found the following review helpful By edgar on 19 Mar 2012
Format: Hardcover
Valuing The Future is a tour de force through the investing landscape, which ambitiously tackles the "why" of investing as well as the "how"- few authors attempt this.
The chapters on fundamental analysis, archetypal business models and financial assets are particularly worthwhile for anyone who invests their own money and gave me a much better understanding of how the system works.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
2 of 2 people found the following review helpful By Richard Colvile on 12 Feb 2012
Format: Hardcover
Valuing the Future takes the reader on a extensive but concise journey through the investment process. It addresses the 'hows' and 'whys' which often go unanswered in a conversation about investment. The reader comes away with the feeling that they have just shared in the years of insight and experience of the Author. It is refreshingly objective and extremely well written - quite unlike any other investment book I have read. A must read.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
2 of 2 people found the following review helpful By Frederick Maynard on 3 Feb 2012
Format: Hardcover
Investment is rarely simple and never easy. Yet, the wisdom and experience of ex Fidelity money manager Ben Paton is worth-reading. Most investment guides are penned by journalists who have typically never invested other people's money. Valuing the Future explains concisely and very clearly what most investors need to know about the art and science of making money. Professionals will also learn from his many insights. Ben Paton is a 'value' investor and his philosophy is spelt out through a dialogue with a prospective client. Well-written, peppered with erudite quotes (!) and amusingly illustrated (check out the 'safe sex' cartoon), its a great read. Buy, don't sell.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again


Feedback