Built on a Lie: The Rise and Fall of Neil Woodford and the Fate of Middle England's Money: How One Man Made a Fortune, Lost His Investors' Billions and Changed an Industry for Ever
Language: English
Published by Penguin Business, 2021
- First Edition
- Hardcover
- Used
Seller: killarneybooks, Inagh, Clare, Irelandkillarneybooks
AbeBooks seller since April 20, 2017
Condition: Used - Fine
£ 13.34
Quantity: 1 available
Add to basketItem description from seller
Hardcover, vii + 241 pages, NOT ex-library. Book looks unread, clean and bright throughout with unmarked text, free of inscriptions and stamps, firmly bound. Unclipped dust jacket shows minor handling wear. -- Written by Owen Walker, an award-winning Financial Times journalist who first broke the story, the book chronicles the collapse of Neil Woodford's multi-billion-pound investment empire. It traces Woodford's trajectory from a "rockstar" fund manager at Invesco Perpetual to the 2019 implosion of his own firm, Woodford Investment Management. The narrative highlights how roughly £3.6 billion in savings from hundreds of thousands of retail investors were trapped in illiquid, high-risk assets. -- This investigative financial expose chronicles one of the most devastating investment scandals in modern British history, detailing the spectacular 2019 collapse of the country's most celebrated stock picker. The narrative traces the trajectory of a star fund manager who built a stellar reputation over two decades by reliably delivering steady returns through conservative blue-chip investments. However, upon establishing an independent firm, this strategy secretly and fatally shifted toward highly speculative, illiquid startup ventures in unlisted biotech and technology sectors. The text details the subsequent liquidity crisis, illustrating how a sudden wave of withdrawal requests forced the suspension of the flagship equity income fund. This unprecedented freeze trapped billions of pounds, effectively devastating the retirement portfolios of hundreds of thousands of everyday retail investors. Beyond individual hubris, the book functions as a scathing critique of the broader UK financial ecosystem. It exposes the systemic complicity of cheerleading wealth management platforms and regulatory oversight bodies that collectively ignored glaring warning signs to protect their own lucrative fee structures. This unvarnished exposure of structural vulnerabilities within asset management serves as a definitive cautionary tale about the dangers of unchecked financial cults of personality.…
Seller Inventory # 013140
- Title
- Built on a Lie: The Rise and Fall of Neil Woodford and the Fate of Middle England's Money: How One Man Made a Fortune, Lost His Investors' Billions and Changed an Industry for Ever
- Author
- Owen Walker
- Publisher
- Penguin Business
- Publication year
- 2021
- Condition
- Fine
- Dust jacket
- Near Fine
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0241468191
- ISBN 13
- 9780241468197
- Edition
- 1st Edition
'This book should be sold with a bottle of blood-pressure pills. Walker's depiction is meticulous and unsparing' The Times
'Vital financial journalism with heart' Emma Barnett, BBC
The definitive account of the Neil Woodford scandal from the award-winning FT journalist who first broke the story. This is the gripping tale of Britain's top investor's fall from grace and the shattering consequences.
The proud owner of a sprawling £14m estate in the Cotswolds, boasting a stable of eventing horses, a fleet of supercars and neighbouring the royal family, Neil Woodford was the most celebrated and successful British investor of his generation.
He spent years beating the market; betting against the dot com bubble in the 1990s and the banks before the financial crash in 2008, making blockbuster returns for his investors and earning himself a reputation of 'the man who made Middle England rich'. As famous for his fleet of fast cars and ostentatious mansions, he was the rockstar fund manager that had the lifestyle to match.
But, in 2019, after a stream of poorly-judged investments, Woodford's asset management company collapsed, trapping hundreds of thousands of rainy-day savers in his flagship fund and hanging £3.6bn in the balance.
In Built on a Lie, Financial Times reporter Owen Walker reveals the disastrous failings of Woodford, the greed and opulence at the heart of his operation, the flaws of an industry in thrall to its star performers and the dangers of limited regulation. With exclusive access to Woodford's inner circle, Walker will reveal the full, jaw-dropping story of Europe's biggest investment scandal in a decade.
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killarneybooks
Inagh, Clare, Ireland
AbeBooks seller since April 20, 2017
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All U.S.-bound orders are now shipped with UPS for reliable delivery. Additional customs or import fees are highly unlikely; however, please note buyers remain responsible for any duties or taxes that U.S. Customs may assess. -- Killarneybooks is a family-run bookshop based in the Republic of Ireland. We take pride in accurate listings, careful packaging, and prompt service - most orders ship within 24 hours. All books listed are in stock and ready for immediate dispatch - we are not dropshippers. Inquiries always welcome.…
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