Built on a Lie: The Rise and Fall of Neil Woodford and the Fate of Middle England's Money

Neil Woodford was the most celebrated and successful British investor of his generation, but his asset management company collapsed in 2019, trapping hundreds of thousands of savers in his flagship fund and hanging £3.6 billion in the balance. Financial Times reporter Owen Walker reveals the disastrous failings of Woodford, the greed at the heart of his operation, the flaws of an industry in thrall to its star performers, and the dangers of limited regulation in his book "Built on a Lie".

Format: Paperback / softback
Length: 256 pages
Publication date: 27 April 2023
Publisher: Penguin Books Ltd

The Fall of Neil Woodford: A Tale of Greed and Failure

Neil Woodford, once hailed as the most celebrated and successful British investor of his generation, has tragically fallen from grace. Once the proud owner of a sprawling £14 million estate in the Cotswolds, boasting a stable of eventing horses, a fleet of supercars, and neighboring the royal family, Woodford had built a reputation for beating the market and making blockbuster returns for his investors. However, in 2019, after a series of poorly-judged investments, Woodford's asset management company, Woodford Investment Management (WIM), collapsed, trapping hundreds of thousands of rainy-day savers in his flagship fund and leaving £3.6 billion in the balance.

In his book, "Built on a Lie: The Fall of Neil Woodford and the Destruction of Britain's Biggest Investment Fund," Financial Times reporter Owen Walker delves into the disastrous failings of Woodford, the greed 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 provides a full, jaw-dropping story of Europe's biggest investment scandal in a decade.

This book is a must-read for anyone interested in financial journalism, as it offers a vital perspective on the risks and rewards of investing. It sheds light on the flaws in the regulatory system that allowed Woodford to run his fund without proper oversight, and it raises important questions about the role of celebrity investors and the dangers of chasing short-term profits.

"Built on a Lie" is not only a cautionary tale for investors, but also a reflection on the broader societal issues surrounding wealth and inequality. It highlights the growing divide between the haves and have-nots, and the dangers of allowing unchecked capitalism to run amok.

In conclusion, "Built on a Lie" is a powerful and eye-opening book that provides a detailed account of the fall of Neil Woodford and the devastating consequences of his greed and failure. It is a must-read for anyone interested in financial journalism, investing, or societal issues surrounding wealth and inequality.

Weight: 182g
Dimension: 198 x 129 x 20 (mm)
ISBN-13: 9780241468210