IC Book Club 

Christmas books 2004 part 2

Alistair Blair

Here are the other five books that I suggest for your Christmas list. The story of Johnathan Bell Lovelace is readably told in Capital - The Story of long-Term Investment Excellence by that top-class investment writer, Charles D Ellis. Capital Group was founded by Mr Lovelace in 1929 - the year of the Great Crash. He had prospered in the preceding years but, as the market powered on upwards in 1929, he recognised that share values were unsustainable. He sold his personal portfolio just one month before the market began to topple, and resigned his partnership in a small stockbrokerage and investment management company when unable to impress his views on his partner. Two years later, he was called back by his investment management clients, who had thrown out the erstwhile partner. They begged him to rescue them from near-oblivion. And he did.

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