Investor 100 Years - "To move from the old to what is about to come..."

[John Hjorth]

Full title: Investor 100 years - "To move from the old to what is about to come is the only tradition worth keeping."

 

I bought the books [both the Swedish version and the English version] in the beginning of October 2016, and I have just finished reading the English version.

 

The book is about the first 100 years of the history the Swedish investment company Investor AB - the central and core company in "the Wallenberg sphere", today actually in control of quite a large part of Swedish international business, and quite a large part of the companies listed on the Swedish stock exchange Nasdaq OMX Stockholm.

 

Ticker: INVE A [sTO] & INVE B [sTO].

 

The book was written by the Swedish journalist Ronald Fagerfjäll. To me, it's very well written. I have the feeling after reading the book [i have only read the English version so far], that the author is a quite skilled investor himself.

 

It's the story about how about aproximately SEK 500 thousand has been turned into about SEK 290 billion during the work of 6 generations of the Wallenberg family within 100 years, in a historic Swedish business context.

 

I have learned a lot about the Wallenbergs and how they work by reading it, and it has been a really interesting, entertaining and educational read, all at the same time, with everything put in a historic perspective with regard to Swedish business.

 

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Scandinavian investors outside Denmark can get the books at a 46% discount [price: SEK 179.00 each] here.

 

As a Danish investor, I found the books cheapest including postage and VAT at CDON.COM.

 

The English version of the book is available on Amazon UK at GBP 29.00 here.

 

I haven't been able to find the Swedish version of the book available outside www.adlibris.com and CDON.COM.

 

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Disclosure: INVE A [sTO] ~3% position. I will perhaps buy more in 2017.

[TBW]

Thanks for pointing this out.  Have looked very briefly at Investor AB in the past and was very impressed.  Everyone speaks very highly of them as well.

 

Asking my wife to get for me for xmas.

[John Hjorth]

You are welcome, TBW.

 

I really hope you get the book as a Christmas gift from your wife, and that you enjoy reading the book like I have.

[netnet]

500 k to 290 Billion. Not at all bad, given two world wars, depressions, etc about 14%.  Do you know what the inflation adjusted original stake was worth? The dollar has gone down by a factor of 22 or so, i.e. a dollar in 1916 bought the equivalent of $22 today, at least in potato chips not microchips.

[John Hjorth]

500 k to 290 Billion. Not at all bad, given two world wars, depressions, etc about 14%.  Do you know what the inflation adjusted original stake was worth? The dollar has gone down by a factor of 22 or so, i.e. a dollar in 1916 bought the equivalent of $22 today, at least in potato chips not microchips.

 

netnet,

 

Thanks, I will try to open a topic in the investment ideas forum within a few weeks about Investor AB. I'll do my very best to do the opening post - consider me as reference - well thought out.

[wachtwoord]

Thanks for your post. It made me Google the company and find their annual report http://ir.investorab.com/files/press/investor/201604059657-1.pdf

 

I only read the first few pages (yet) but very nice overview of the companies history and investment values.

 

Thanks! Interesting read.

[John Hjorth]

I haven't had the time and energy yet to do write up on Investor AB in the investment ideas forum - I'm still studying this thing on/off. It's a never ending story studying it, like it is with Berkshire.

 

Today I found this short presentation  of the company made by the Swedish singer Liselotte Östblom. [Just press the start button on the upper video clip].

 

Let me just say I coulden't do it better my self! Sometimes it's enternaining in more than one way to study companies! ; - )

[thowed]

I look forward to your write up on Investor.  I have been intrigued by them for a while, as part of a bigger fascination with family holding companies (Exor, HAL Trust, Jardine etc.).

 

My main problem is that I can't get a sense of how good the current generation of Wallenbergs are, and how plans for future succession is.  Stewardship is so important.

 

There was an interesting feature on Jacob, Peter & Marcus in the FT a couple of years ago.  You can dodge the paywall if you google the headline.

https://www.ft.com/content/4f407796-0a35-11e5-a6a8-00144feabdc0