Engines That Move Markets: Technology Investing from Railroads to the Internet and Beyond - Hardcover

Nairn, Alasdair

Hardcover

ISBN 10: 0471205958 ISBN 13: 9780471205951

Publisher: John Wiley & Sons Inc, 2001

Synopsis

A comprehensive history of market-shaping industries and their impact on how we invest today
This engaging book highlights the history of industrial development and its impact on investors. Today's investors will learn about past approaches to technological advances such as-electricity, the railroad, the telephone, the computer, and much more-while gaining insights on how to appraise the "new technology" companies of the future. This complete and well researched history of industries and investing wouldn't be complete without a look at: how Thomas Edison lost control of his company, the impact of the Standard Oil breakup, the early days of the wireless industry, and the changing face of the computer industry today. Investors looking for industry-shaping investments will undoubtedly use Engines That Move Markets as their guide.

About this title

From the Inside Flap

Many innovative technologies have changed the way we live as well as the way we invest-whether it was the railroads that connected America from coast to coast or the Internet that connects people around the world. The birth and commercialization of a breakthrough technology swiftly transforms that market with an investment pattern that creates both economic booms and busts before a more stable environment occurs.

Engines That Move Markets captures the impact that some of the greatest technological inventions of the past two hundred years have had on financial markets and investors' fortunes. This engaging overview of industrial development and its effect on investors shows you how the pattern of investment response to such technological advances as-
* Electric light and its commercial exploitation
* The railroad boom in Britain and the United States
* The development of the automobile industry
* The discovery and early development of crude oil
* The rise of the PC
* The Internet and dot-com bubble

-can be used to help you avoid costly investment mistakes today and recognize the emerging technologies of the future.

Through his exhaustive research and fluid writing style, Alasdair Nairn pieces together ten of these historical episodes. Each chapter chronicles a different technological innovation-past and present-that has dramatically shaped the market of that time. Nairn provides a virtual road map on how to appraise the "new technology" companies of the future by detailing how investors and the media have reacted to past innovations; charting the performance of share price, earnings growth, and return on capital of the company that owned the innovation; and pinpointing which companies emerged as winners-and, equally important, which companies suffered as losers.

Engines That Move Markets is more than just a history of money, stocks, and trading. This engaging book reveals the prevailing social attitudes that surrounded each new stock market boom and examines the ingenuity of the entrepreneurs who struggled to develop their unique products and markets.

In examining the recurring patterns that are associated with each new technological innovation, Engines That Move Markets provides timeless lessons for investors looking for the next company and innovation that will shape the market of the future. This study of past financial history is a rich source of inspirational guidance for any investor-whether you're just getting started or have lived and invested through some of the booms and busts of past markets.

From the Back Cover

"An intriguing study of the psychology and market dynamics underlying technology-based stock market manias."
-Barry Riley, Financial Times

"Engines That Move Markets is an insightful study into the history of technology and the lessons it has taught us. This book reveals in detail how technology has changed our economy, our markets, our society and the world we live in. Sandy Nairn has combined his talents as a scholar, analyst and investor to guide us through the past and help us understand where the future has yet to lead us."
-Thomas L. Hansberger, CFA, President & CEO
Hansberger Global Investors, Inc.

FIND THE MOST LUCRATIVE MARKETS OF THE FUTURE BY LOOKING TO THE PAST

Some of the biggest technological innovations in the world have followed similar market and social patterns-skepticism is replaced by enthusiasm; venture capital is supplied; many companies are started and their stocks rise. But as the technology is developed and financial reality sets in, many companies disappear, stocks collapse, and naïve investors lose money.

Through exhaustive research, Alasdair Nairn captures this pattern and examines the impact that some of the greatest technological inventions of the past two hundred years have had on financial markets and investors' fortunes. Each chapter explores a different technological innovation, and provides valuable insights on how to apply these lessons to appraise the "new technology" companies of the future. Some of the key historical episodes examined include:
* Electric light and its commercial exploitation
* The railroad boom in Britain and the United States
* The development of the automobile industry
* The discovery and early development of crude oil
* The rise of the PC
* The wirelessworld
* The Internet and dot-com bubble

Don't be left behind when the next technological innovation revolutionizes the market. With Engines That Move Markets you'll learn how to recognize the familiar patterns unfolding in today's economy so you can profit from these market-shaping events.

Edition details

• Publisher: John Wiley & Sons Inc
• Publication date: 2001
• ISBN 10: 0471205958
• ISBN 13: 9780471205951
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 494