Overview

"""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 naive 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."

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9780471205951

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Reviews

This book has much wisdom, and much that could be learned by investors or companies plannning to back new technologies. (Financial Times, 25 March 2002) ...a well written and well argued book... (Infoconomist, 1 July 2002) ...thoroughly researched, well written and well argued book... (Information Age, July 2002)

Author Information

ALASDAIR (Sandy) NAIRN is Chief Investment Officer of the Scottish Widows Investment Partnership in Edinburgh, responsible for the management of over $130 billion in assets. Prior to this, he spent over ten years with the Templeton organization, most recently based in Ft. Lauderdale, Florida, where he was director of global equity research. Nairn holds a bachelor's degree in economics and engineering, and a PhD in economics.

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