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The Future is Small: Why AIM will be the world's best market beyond the credit boom

Book Description

In a world dominated by gigantism, the beauty of smallness hasn't had much of a look in. Yet beyond the credit boom, globalisation has been found wanting. This book confounds the consensus, as Williams' extraordinary factual data outlines why smallness offers an effective path for investors to explore beyond the financial crisis. This book is about so much more than just the case for small being beautiful. It explains why the unique characteristics of AIM - the UK market for smaller, growing companies - will be a place of extraordinary vitality in the coming years.

Table of Contents

  1. Contents
  2. Foreword by Luke Johnson, Chairman, Risk Capital Partners
  3. Acknowledgements
  4. Illustrations
  5. Chapter 1: An Age of Confusion
    1. Borrowing growth from the future
    2. Debt in context
    3. Living in a deleveraging world
    4. Scale of the forthcoming change
    5. The disadvantages of speculation
    6. Conclusion
  6. Chapter 2: How Bigness Came to Dominate
    1. Questions of scale
    2. Some disadvantages of bigness
    3. The pull towards scale during the credit boom
    4. Professional investment in large and small
    5. Conclusion
  7. Chapter 3: Unsettling Challenges for the Status Quo
    1. Growth characteristics amongst the big and the small
    2. Growth among smallness
    3. Convergence and over-optimisation
    4. Diversity and resilience – an analogy
    5. Winning an analytical edge
    6. Productivity differences
    7. The benefits of diminutive scale for investors
    8. Conclusion
  8. Chapter 4: Exploring Value, Growth and Smallness
    1. Growth expectations and share prices
    2. Introducing income and value stocks
    3. Combining smallness, value and income
    4. Value and smallness beyond the credit boom
    5. Conclusion
  9. Chapter 5: How AIM is Aligned with Smallness
    1. Stock picking for the best returns
    2. Competing with the professionals
    3. AIM: The leading exchange for smaller quoted stocks?
    4. AIM and the forthcoming super-cycle in small cap returns
    5. AIM’s near-unique qualities
    6. Conclusion
  10. Chapter 6: Smallness in Action
    1. Domestic troubles: Creating jobs and increasing the tax take
    2. The role of multinationals
    3. Creating employment
    4. The psychological appeal of small
    5. Conclusion
  11. Chapter 7: How to Invest on AIM
    1. The challenges of investing
    2. Past performance
    3. Preparing
    4. Principles guiding stock-picking
    5. Conclusion
  12. Chapter 8: Capital in Context
    1. Why yesterday’s strategies can’t last
    2. The relevance of genuinely small companies
    3. The nexus in AIM
  13. Bibliography
  14. Publishing details