Chapter 1
What is investment?
To appreciate fully what it means to be an investor, I ask you to imagine that you do not live in the twenty-first century, with its vast range of financial instruments. You live in a simpler time. You are a member of the Victorian middle class, and life has been good to you. A substantial nest-egg has been built up over the years, but you are dissatisfied with the 2 per cent annual return you are getting on it in the local bank.
A couple of acquaintances, Mr Stephenson and Mr Brunel, are enthusiasts for a revolutionary technology that will improve the lives of the British people tremendously: the railways. Although the social benefits are wonderful, and it gives Stephenson and Brunel a warm feeling to think ...
Get The Financial Times Guide to Investing, 4th Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
