Tuesday, 18th June 2019
When value and magic run out….
Fly too close to the sun and you run the risk of the heat melting the wax that attaches the wings to your body….
The subsequent fall to earth will be both spectacular and devastating….
Students of Greek mythology will know that Icarus found all this out for himself via painful experience….
Students of the markets will recognize that Neil Woodford is currently experiencing an ‘Icarus’ moment of his own….
- A star turn….
For a long time, fund-manager Neil Woodford could do no wrong. He flew high – a mere small dot circling in the blue sky overhead….
He banked big profits for his investors at Invesco between 1988 and 2014 – profits well ahead of those posted by the opposition….
So much so, he was seen in financial circles as a man with the Midas touch….
His performance was widely feted, his sage pronouncements much-coveted, and his every market move pored over, analyzed and frequently duplicated….
Woodford was ‘smart money’. The man it paid to follow. A luminary among lesser money-managers. A ‘star’ in the financial universe no less….
When he branched out to form Woodford Investment Management in 2014, he enjoyed the backing and support of Hargreaves Lansdown – the largest investment platform in the country….… Click here to read more