The Smart Money Method

Seminar by Steve Clapham

9th February 2021 – On-Line

Steve’s talk will challenge all those who chose to believe all reported company data are honest – they are not. Some data lie – the question is how to spot lies and possible fraud and what to do about it?

Steve will discuss why he considers fraud may be common or even rampant among large cap stocks today. He will outline useful tools and techniques that can help detect earnings management.

The seminar will be based on the practical and successful research methodology he developed while head of research and partner at two special situation long-short equity funds – which is fully described in his book The Smart Money Method.

Steve Clapham

Investment Analyst / Trainer / Author

Stephen (Steve) is the founder of Behind the Balance Sheet, an investment research and training consultancy, which produces bespoke research and runs training courses for a select group of institutional clients. Steve’s Forensic Accounting Training Programme launched in June 2018. In its first two years some 300 professional investment analysts and portfolio managers at some of the biggest funds in the UK took the course, which has been enthusiastically received. The course is unusual in that it looks at the issue of financial manipulation from a practitioner’s perspective, and has over 150 real life examples of accounting chicanery from around the world.

Steve spent some 20 years as an equity analyst at different investment banks, covering various sectors, and was consistently rated in the top 10 in his sector in Extel, II and Reuters surveys. He moved to the buy-side in 2005 and was a partner and head of research at two multi-billion dollar hedge funds; he specialised in using a deep dive research approach to identify special situation opportunities.

Steve trained as an accountant and lives in London. He is regularly featured in the press, including the Financial Times, the Times, Sunday Times, Telegraph and City AM. Steve also frequently appears on podcasts, including Bloomberg Odd Lots and the Acquirer’s Podcast as well as on the Today programme on BBC Radio 4 and on Real Vision, talking about accounting issues at quoted companies. His book, The Smart Money Method, outlines his research process and was a number 1 Amazon investment category bestseller in the US and UK on launch. He enjoys reading, yoga, and skiing and is interested in investment theory, wine and classic cars.