Built on a Lie
The Rise and Fall of Neil Woodford and the Fate of Middle England’s MoneySelect a format:
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Summary
He was the most celebrated and successful British investor of his generation - but it was all built on a lie.
Neil Woodford spent years beating the market; betting against the dot com bubble and the banks before the financial crash in 2008, making blockbuster returns for investors and earning himself a reputation of 'the man who made Middle England rich'.
But, in 2019, Woodford's asset management company collapsed, trapping hundreds of thousands of rainy-day savers in his flagship fund and hanging £3.6 billion in the balance.
In Built on a Lie, Financial Times reporter Owen Walker reveals the disastrous failings of Woodford, the greed at the heart of his operation and the full, jaw-dropping story of Europe's biggest investment scandal in a decade.
'Vital financial journalism with heart' Emma Barnett, broadcaster
'This is a must read!' Vince Cable, former leader of the Liberal Democrats
'Reads like a rip roaring tale of a corporate high wire act' John McDonnell, former Shadow Chancellor
'Should be sold with a bottle of blood-pressure pills' Edward Lucas, The Time
Neil Woodford spent years beating the market; betting against the dot com bubble and the banks before the financial crash in 2008, making blockbuster returns for investors and earning himself a reputation of 'the man who made Middle England rich'.
But, in 2019, Woodford's asset management company collapsed, trapping hundreds of thousands of rainy-day savers in his flagship fund and hanging £3.6 billion in the balance.
In Built on a Lie, Financial Times reporter Owen Walker reveals the disastrous failings of Woodford, the greed at the heart of his operation and the full, jaw-dropping story of Europe's biggest investment scandal in a decade.
'Vital financial journalism with heart' Emma Barnett, broadcaster
'This is a must read!' Vince Cable, former leader of the Liberal Democrats
'Reads like a rip roaring tale of a corporate high wire act' John McDonnell, former Shadow Chancellor
'Should be sold with a bottle of blood-pressure pills' Edward Lucas, The Time
Reviews
An outstanding, readable, well researched account of the collapse of Woodford Investment Management ...'Built on a lie' wasn't a journalist's sound-bite but the judgement of Mark Carney, former Governor of the Bank of England, who saw clearly that Woodford was a symptom of a dangerously unstable investment model. When a rogue investor smashes down a rotten door causing so much damage, give some credit to the rotten door. This is a must read
Vince Cable, former leader of the Liberal Democrats and Secretary of State for Business