Many share price collapses could have been predicted and therefore avoided if more attention was paid to companies' annual reports, according to ex-Artemis fund manager Tim Steer in his new book The Signs Were There.
The former manager of the long/short UK Growth fund at Artemis, which had around £750m in assets when he retired from the firm in 2015, criticises fund managers, auditors and regulators alike for failing to spot rogue numbers in annual reports as he adds more emphasis should be put on training fund managers up on reading accounts. In his book, which is released on 27 November and carries the strapline ‘the clues for investors that a company is heading for a fall', Steer details ten ‘share price disaster scenarios' and provides 22 examples of ‘catastrophic' share price falls, many of whic...
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