The Nature of value: how to invest in the adaptive economy

The problem with price? It's not value

Value and why it matters

The theory of value

Knowledge and innovation

How innovative capabilities enable value creation

Allocating to firms with a unique capability mix

Birth and growth of clusters

Cluster convergence, maturation, and death

Stable and unstable clusters

The value of moats

How moats affect cost, competition, and customer forces

Managing moats, for value creation today and wealth tomorrow

The economy as a macroprocessing network

Monetary shocks and their implications for the allocator

The nature of value allocation.