Paul Mumford has been running the Cavendish Opportunities Fund making him one of the longest serving fund managers anywhere in the UK, and his returns match his longevity.He is far from a household name, but he is a brilliant example of a stock picker. Mumford’s knowledge of companies is exceptional and this book is a wonderful history of his 50 years as a professional investor and stockbroker. For readers of a similar age you will be reminded of companies you have long forgotten about because they have either been taken over or gone bust. All the way through Mumford shares some fascinating anecdotes and insights into to finding undervalued companies and making a good return for his investors.You always realise that over time history does repeat itself and the financial crisis of a decade ago has echoes in previous decades. Mumford’s great investing skill is his open- mindedness and he appears to never dismiss any UK company in any sector until he understands.A thoroughly interesting read in terms of investment lessons and investment history.
