I read the first of those books — When the Fund Stops by journalist David Ricketts — over the holiday period. It’s well worth reading, and I don’t want to give too much away about its contents. But what strikes you most is quite how far Woodford had strayed beyond his circle of competence. It should have been obvious that his funds were heading for serious trouble. The question is, why did those with the power to intervene appear to do nothing to prevent it?