Book of the week
“There were regulatory failings, but this remains nothing more sinister than a story of bad investment decisions”
Built on a Lie
The Rise and Fall of Neil Woodford and the Fate of Middle England’s Money
Owen Walker Penguin Business, £20
To the anger of many in the investment industry, fund manager Neil Woodford has recently announced he will be making a comeback through a new biotech fund aimed at institutional, by Financial Times journalist Owen Walker, is therefore particularly timely. Walker looks at the circumstances that led up to the implosion of Woodford’s empire when investors lost confidence in the man and demanded their money back, causing his main fund – a large chunk of which had been invested in illiquid biotech firms – to close.
