Despite holding positions of Professor of Investment I concluded that academic life was not nearly as much fun (nor as intellectually stimulating) as making money in the financial markets. I now spend my time running equity portfolios for myself and for clients from an office in the heart of rural Leicestershire, far from the noise of the City.
Managed Portfolio Service
I run a Managed Portfolio Service at Henry Spain Investment Services in which clients’ individual portfolios are based on my share portfolio at Henry Spain; my portfolio is used as a model for the proportions put into each company for my clients - see www.henryspain.co.uk/uk-value-portfolio. To become a fellow investor contact me at firstname.lastname@example.org
We often hear that out-performing the market is impossible, that most fund managers don’t beat the index or even that a chimpanzee can pick stocks better than professionals. So, that raises the question, how come some individuals, by adopting sound methods, do beat the stock market in a consistent way?
For decades my main research focus has explored the question: “What works in investment?”, drawing on the work of the great investors, academic discoveries and my own experience - good and bad. I used to supervise PhD. students, and taught on this subject at university and in the City of London.
Today I'd rather concentrate on actual investment analysis, and buy shares selling at a discount to intrinsic value.
I've written a few books
The Financial Times Guide to Investing, the UK's best-selling investment book.
The Financial Times Guide to Value Investing, allowed me to set out core investment principles used by some wonderful investors, such as Benjamin Graham, Philip Fisher, Warren Buffett and Peter Lynch.
I wrote newsletters on Warren Buffett's investments as case studies. These were later turned into a series of books, The Deals of Warren Buffett: Vol 1: The first $100m, The Deals of Warren Buffett, Vol 2: The making of a billionaire; The Deals of Warren Buffett, Vol 3: The making of America's largest company. They have been translated into many languages.
Another book, The Great Investors, provides short descriptions of the investment philosophies of George Soros, John Templeton and Anthony Bolton as well as Benjamin Graham, Philip Fisher, Peter Lynch, Warren Buffett, Charlie Munger and John Neff.
Get Started in Shares is a very straight forward jargon-busting book for absolute beginners.
Financial Times Guides:
Despite my university Chair, teaching of investment ideas in the City and authorship of investment books, I am not allowed to give investment advice through this website.
This is a very sensible prohibition. I have not undertaken the training, set up the compliance systems, or bought insurance. It is only right that the FCA can ask that I be locked away for up to two years if I gave investment advice without authorisation. Without this prohibition any Tom, Dick or Conman could pose as an investment adviser and separate you from your money.
Any information/opinions about companies that I might discuss is given in the spirit of intellectual discourse as we each grope towards reaching some individual knowledge, some individual conclusions, on the merits of a company or investment strategy.
If you ask me “what should I buy?” I can’t answer you – they’ll lock me up. Besides, I do not know your personal circumstances and whether that type of investment is right for you.
Never follow tips blindly: do your own analysis. I cannot accept responsibility for any loss occasioned to any person who either acts or refrains from acting as a result of any statement on this website.