The Nature of Value: How to Invest in the Adaptive Economy

Investor Nick Gogerty presents a framework for understanding how companies create value in an evolving, adaptive economy. Drawing on biology and complexity science, he describes firms as organisms competing in markets like ecosystems. Gogerty explains how to identify innovation, durable competitive advantages and moats, and how investors can use these ideas to find companies likely to create durable long-term value.

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Shane Parrish: “The author is a long-time Farnam Street reader who sent me a pre-release copy of the book.”