? -Neil Wood, 20 14
Neil Woodford, I'm afraid he never imagined how wonderful he was at the peak of the fund, but how lonely he is at the bottom of the fund now. 2065438+On the morning of June 3, 2009, Neil Woodford, once the top fund manager in Britain, was about to start the worst week. In a few hours, his life will fall to the bottom.
Neil Woodford was once a representative figure in the British investment management industry and was known as "Buffett of Britain". He successfully escaped the two financial crises of 1998 and 2008, and founded an "investment empire" named after him. At its peak, the total assets of the fund he was in charge reached 33 billion pounds, which frightened political leaders and business tycoons.
The BBC once called it "a money-making machine that never shuts down", but on the morning of June 2065438+2009, his life will be turned upside down. Two years ago, he led a group of investors to snowball and make money in the big market. Two years later, he was uneasy about the deteriorating flagship investment fund. What extraordinary experience makes a star fund manager? What kind of development made it fall from the peak to the bottom?
The book "The Lost Story of a Star Fund Manager" jointly published by the publishing house and Bay Page may reveal the story behind Neil Woodford's past scenery and loneliness now. David Ricketts, the author of this book, will lead us into the secret darkroom of Wood's wealth and reveal the arrogance and prejudice, truth and lies behind the investment.
In the book, we can see that even though Neil Woodford is being redeemed by various investors, there are still a large number of Woodford admirers following him, as McKinney said: "When I heard that he was leaving to start a business, he almost never missed it. He is a gold medal fund manager. " However, Woodford didn't work miracles as before. Since Woodford's stock income fund was completely closed after June 2065438+2009, it has never been reopened, and his business has collapsed in the most spectacular way.
The biggest shock to readers in this book is the investment code revealed behind Neil Woodford's amazing story of ups and downs. No one can keep an unbeaten record for a long time, and past performance cannot represent future performance. When Woodford issued the stock fund, he used the fund to buy high-quality and low-risk stocks, which is especially suitable for retirees with low risk preference. In order to promote selling points, but with the passage of time, Woodford's painting style changed suddenly. When his investment style changed qualitatively, everything would drift to uncontrollable high risks until the fund lost its investment.
As the author said, the most important thing in this story is how a person who has accumulated huge personal wealth by relying on superb investment skills believes in self-hype too much and finally pays a painful price.