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Increasing Returns: Identifying Forms of Increasing Returns and What Drives Them
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Consilient Observer
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Januar 30, 2024
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Increasing Returns: Identifying Forms of Increasing Returns and What Drives Them
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Januar 30, 2024
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Increasing Returns: Identifying Forms of Increasing Returns and What Drives Them
Increasing Returns: Identifying Forms of Increasing Returns and What Drives Them |
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- We review five areas of micro- and macroeconomics where the concept of increasing returns applies and attempt to show why they are relevant to investors today.
- Increasing returns describes cases when a marginal investment generates an output above the average and shows up as rising returns on invested capital and high market share.
- The forms of increasing returns tend to overlap and are useful to understand in the context of industry formation, market structure, international trade, and economic growth.
- Most forms of increasing returns are deeply intertwined with the rise of intangible assets, which can scale faster than tangible ones but are also harder to protect.
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Das Counterpoint Global Team ist bestrebt, langfristige Investitionen in einzigartige Unternehmen zu tätigen, deren Marktwert aus fundamentalen Gründen deutlich steigen kann. Ihre Portfolios sind in der Regel konzentriert und unterscheiden sich von ihren Benchmarks. Das Team besteht aus 26 Personen, darunter 16 Investment-Profis und zwei Disruptive Change-Forscher. Die Kultur des Teams fördert Zusammenarbeit, Kreativität, eine kontinuierliche Entwicklung und differenziertes Denken.
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