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Built on a Lie Reviews

Built on a Lie by Owen Walker

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

Owen Walker

Score pending

2 reviews

Imprint: Penguin Business
Publisher: Penguin Books Ltd
Publication date: 4 Mar 2021
ISBN: 9780241468197

'Vital financial journalism with heart' Emma Barnett, BBC 'Colourful, insightful and pacey' Oliver Shah, Sunday Times

4 stars out of 5
30 Mar 2021

"Owen Walker’s salutary tale about Britain’s best-known fund manager will invoke the ire of investors"

It is a salutary tale told by a member of the Financial Times team that broke the story — regular readers will recognise parts of Built on a Lie — and the investing public of Middle England is likely to get very cross indeed when they read it. Never mind the disclaimers and the legalese in the client service agreements, they were — to use a City term for which more colourful aphorisms exist — legged over good and proper. None of the principal characters emerge with much credit but there are villains and victims a plenty.

Reviews

3 stars out of 5
Edward Lucas
13 Mar 2021

"Edward Lucas is left furious by this account of Neil Woodford’s disastrous investment fund, a tale of financial chicanery and greed"

Walker ends his book with the hope that Woodford will in the end get his “comeuppance”. He could not have imagined that its publication would instead coincide with the financier’s attempt — seemingly successful — to return to the investment world, advising about the same portfolio of companies that led to his downfall, and accompanied by the same team of cheerleaders. MPs are rightly fuming about this. But the silence from most of the financial world is deafening. The only sounds are the glug-glug of confidence draining from the system, and the distant popping of champagne corks, at a party staged at our expense.