Beware bespoke stock pickers who promise to beat the odds

Beware bespoke stock pickers who promise to beat the odds

Investment manager Neil Woodford’s excruciating apology on YouTube last week was of little comfort to investors unable to extract their cash from his boutique fund

Neil Woodford is a high-profile “stock picker” in the elite community of City of London and Wall Street investment managers. He made the news for all the wrong reasons last Wednesday.

After a month-long £560 million run on his £4.3 billion flagship Woodford Equity Income Fund, he suspended trading last Monday. Two days later, looking shattered, he went on YouTube to make a contrite apology to disgruntled investors for the fund’s poor performance over the...

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