Engines That Move Markets

Professional Reviews

"One of the best books ever written on investing - and on technology, too. History repeats itself, especially in technology. You should not invest in new technologies before you study how old technologies were created, developed, matured and disrupted. What is happening today in AI and cryptocurrencies might be analogous to the whale oil industry of 1850s or the horse-drawn carriages of the 1890s." Philippe Laffont, Founder of 5-star-rated technology hedge fund, Coatue Management

"Engines That Move Markets is an insightful study into the history of technology and the lessons it has taught us. This book reveals in detail how technology has changed our economy, our markets, our society and the world we live in. Sandy Nairn has combined his talents as a scholar, analyst and investor to guide us through the past and help us understand where the future has yet to lead us." Thomas L. Hansberger, CFA, president and CEO, Hansberger Global Investors, Inc.

"An intriguing study of the psychology and market dynamics underlying technology-based stock market manias." Barry Riley, Financial Times

"An outstanding book - a must read for all serious investors and for anyone interested in technology. A meticulously researched, scholarly, yet very readable and often amusing account of how technology has changed our lives and the world we live in over the last 200 years. The focus is on the returns from investing in technology, the pitfalls, and the timeless lessons." Professor Paul Marsh, Emeritus Professor of Finance at London Business School and co-author of the Triumph of the Optimists and The Global Investment Returns Yearbook

"This book has much wisdom, and much that could be learned by investors or companies plannning to back new technologies." Financial Times