A conversation with Edward Chancellor
‘Capital returns’ is one of my all-time favourite investing books and one that I always recommend to students. Through the lens of ‘capital cycle theory’ it takes a rather unusual approach to analysing industries and companies, namely by looking at the supply side rather than the demand side.
I recently had the pleasure of speaking to Edward Chancellor about the book and we covered a wide range of topics including applying the theory to different types of companies and investment styles, how it can be used to assess the overall market, current examples of where capital cycle analysis give cause for concern and much more.
I hope you enjoy the conversation. Thank you to Niklas Sävås and Eddie Palmgren at Redeye for inviting me back on the show and to Edward Chancellor for sharing his insights so generously.