My mistakes as a fund manager with Max Ward

Mistakes are our passion at our wonderful library - most of the time it’s someone opining on the errors of others but every so often we get an individual confident enough to talk freely about their own experiences.
As a Christmas treat, we had such an event on 4 December 2023 when Max Ward discussed what he learnt from his mistakes as one of the UK’s best-known investment managers.
Max has just retired after an outstanding five decades as a fund manager with Baillie Gifford and the Independent Investment Trust. In a lively conversation, he discussed his experiences, reflections and lessons with his former colleague Peter Hollis. In particular, Max talked about “going through the wringer”, a period of prolonged agony that he believes is unavoidable for all long-tenured managers of other people’s money.
As Keeper of the Library of Mistakes I hope that you will enjoy learning from Max, a remarkably successful investor who is humble and honest enough to admit to, and reflect on, his mistakes.
The event took place on 4 December at the Library of Mistakes, 33A Melville Street Lane, Edinburgh, EH3 7QB. Drinks were kindly provided by Kennox Asset Management after the event.