Starting his career in the 1980s ,
CFP SDL UK Buffettology manager Keith Ashworth-Lord worked as an analyst for 10 years before being promoted to a head-of-research position . Yet he says that while he learned a lot about trading , he knew precious little about investing . “ I was a boat bobbing around on a sea of stock market sentiment ,” he recalls . “ I had no robust investment methodology to anchor me . I realised there must be more to investment , but where to start ?” Ashworth-Lord began to devour books about investing , but says most weren ’ t worth the effort . Benjamin Graham ’ s The Intelligent Investor was one of the few that was , with chapter eight – The Superinvestors of Graham & Doddsville , written by Warren Buffett – catching his eye . He started to read about Buffett and his business partner , Charlie Munger , then worked his way back to Philip Fisher , from whom he learned that investing is a business venture , not a gamble .
“ It is the enterprises owned that make money for the investor , not the stock market ,” the manager adds . “ My devotion to Business Perspective Investing was thus born in 1995 . This starts from the premise that there is no philosophical distinction between part and outright ownership . The operating performance of a company tells us how successful the investment has been , not the share price .” He adds : “ Once you ’ ve crossed the bridge , there ’ s no going back .”
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