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Thoughts #11: The Capital Cycle
By Eight percent per annum  •  November 4, 2018
Capital Account by Marathon Asset Management published in 2004 gave a good analysis of how global capital moved and why alpha or value add could be generated if we invest well in the cycle.
The Capital Cycle
The capital cycle move along with investors' interests which create competition at the peaks, driving down returns. Essentially a more academic way of saying, "be fearful when others are greedy". It doesn't do justice to the book by over-summarizing it here. 
Do read the book for some good investing stories!"The best investment you can make is an investment in yourself. The more you learn, the more you earn." - Warren Buffett...
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By Eight percent per annum
8% Value Investhink is a value investing / critical thinking knowledge platform with the goal to share knowledge, help understand investing and finance, and help develop critical thinking skills. One important objective would be to help others understand the concept of value and avoid overpaying, especially for property.
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