Tuesday, December 2, 2014

London's AIM - Book- The Future Is Small - Why AIM Will be the World's Best Market Beyond the Credit Boom

Harriman House recently published a book written by Gervais Williams, a UK fund manager, that explains, amongst other things, why London's AIM will be the world's best stock exchange and a place of extraordinary vitality in the coming years.

The Future is Small - Why AIM Will be the World's Best Market Beyond the Credit Boom

Select quotes from the book include the following:

"The bottom-line is that AIM now stands among the most well-established and vibrant markets for small and micro-cap quoted stocks in the world.  Its breadth and depth are remarkable."

"The London AIM stock exchange is distinctive from other markets around the world because it has such a wide range of regular quoted businesses, and it has potential to list a whole lot more."

"There will never have been a better time to be a regular company with sustained turnover, profits and cash flow along with a listing.  Indeed, all the evidence points to this being the start of a super-cycle for returns in the genuinely small - as last experienced between the mid-1950s and the mid-1980s."

"So the AIM exchange stands as something of a beacon; an exchange that is dominated by smallness at a time when market trends are changing."

"We are exceptionally fortunate that the long history of support for the smallest quoted stocks in the UK has resulted in AIM surviving when most others have foundered.  When it comes to allocating capital to smallness, our public markets have had a culture of supporting companies that are rather smaller than elsewhere.  Raising say, £10m via public markets would be difficult or indeed impossible in many other countries around the globe, but not in the UK."

"If the future is indeed small, London's AIM appears unusually well-positioned to participate in the new trends.  All the evidence points to this being the start of a new super-cycle in small-cap returns."

At 113 pages, The Future is Small may be a good stocking stuffer for avid investors and visionary entrepreneurs.

The Future is Small by Gervais Williams - Harriman House

Happy Holidays,

Mark McGowan
Managing Director
AIM Advisers, Inc.
1223 Wilshire Blvd., Suite 1855
Santa Monica, California 90403
(310) 903-0322

1 comment:

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