- Paperback: 334 pages
- Publisher: Wiley; 1 edition (September 8, 2005)
- Language: English
- ISBN-10: 0471735876
- ISBN-13: 978-0471735878
- Product Dimensions: 6 x 1 x 9.1 inches
- Shipping Weight: 1.3 pounds (View shipping rates and policies)
- Average Customer Review: 3.9 out of 5 stars See all reviews (18 customer reviews)
- Amazon Best Sellers Rank: #259,242 in Books (See Top 100 in Books)
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Capital: The Story of Long-Term Investment Excellence 1st Edition
Use the Amazon App to scan ISBNs and compare prices.
Featured business titles
Sponsored by McGraw-Hill Learn more.
Frequently bought together
Customers who bought this item also bought
“…an excellent book…valuable reading for any professional…” (Professional Investor, September 2004)
“Mr Ellis has an ear for anecdote and figures that speak for themselves.” (Financial Times, 2 May 2004)
"...[Wiley] will publish an astonishing account of how Capital has built one of the best track records..." (The Times, 7 February 2004)
From the Inside Flap
In 1929, the year of the great stock market crash, Jonathan Bell Lovelace headed out to California and founded a tiny financial companymuch later renamed The Capital Group Companies. Over the past seventy years, it has developed into one of the worlds leading professional investment management organizations.
No other investment organization in the world has done so well for so long for so many clients. Over the past 5 years, 10 years, 20 years, 50 years, and longer, Capitals investment results consistently rank in the Top Quartile. Yet most people know very little about Capitalbecause of the companys penchant for privacy. In Capital: The Story of Long-Term Investment Excellence, Charles Ellis takes you inside this elite investment firm and shows you the people, practices, concepts, and values that have brought this company consistent success.
Unsurprisingly, Capital is where most investment professionals would most like to work and is the firm they would most frequently recommend as long-term investment managers for their family and friends. Capital is also the investment organization senior corporate executives would most like to have owning their companys common stock.
Finally, Capital is both the organization most likely to fulfill favorable expectations many years into the future and the least likely to say or acknowledge such prospects, because modesty is so pervasive at Capital, where people are far more interested in what lies ahead than in past achievements. As Jon Lovelace says, "Nothing wilts faster than laurels rested upon."
Through interviews with dozens of current and former executives as well as years of in-depth research, Ellis explains the organizational culture and long-term investment strategies that have helped Capital achieve superior investment results and grow globally. Youll learn why Capital excels in the mutual fund business with its American Funds and how it pioneered in discovering investment opportunities in emerging markets. Along the way, youll also get an up-close-and-personal look at the individuals who built the business from the ground up: Jonathan Bell Lovelace, Jon Lovelace, Coleman Morton, Howard Schow, Jim Fullerton, Ward Bishop, Bill Newton, and many others.
While externally, Capital is in the business of managing investments and providing services to investors, internally Capitals main mission is to attract, develop, organize, and motivate those remarkably talented individuals who can work effectively with others to develop and deliver superior investment results and superior services to investors. This book illustrates the many methods Capital uses to secure the best financial professionals and details the flexible company structure that allows these professionals to excel.
Capital is one of the elite investment organizations that consistently produce superior long-term investment results. Remarkable as this is, it should come as no surprise. Designed and led for more than seventy years by two remarkable menJonathan Bell Lovelace and his son Jon LovelaceCapital has remained true to its singular focus: long-term investment success.
If you buy a new print edition of this book (or purchased one in the past), you can buy the Kindle edition for only $2.99 (Save 83%). Print edition purchase must be sold by Amazon. Learn more.
For thousands of qualifying books, your past, present, and future print-edition purchases now lets you buy the Kindle edition for $2.99 or less. (Textbooks available for $9.99 or less.)
If you are a seller for this product, would you like to suggest updates through seller support?
Top Customer Reviews
But I'm glad I read the book to learn more about the original driving personalities and culture of the company that has remained under the radar for years. Of course, since the Big Recession 'Capital' has undergone a re-organization and many of the old stalwarts are retired or side-lined, the company has been streamlined, and the 'money management by committee' scheme has been redesigned, so admittedly the book is dated.
But it's still a good 'inside' look at how one regional money management company grew to become one of the biggest and most respected international investment companies in the twentieth century. And the book is an informative insight in to the differences among various fund management companies and their various philosophies with regard to serving their clients
If you are investing a significant amount of money, your own or other people's, in managed or indexed stock funds, it's a good book to know about.