The Teachers

Andrew Smithers, Stephen Wright, John Greenwood OBE, Peter Warburton, Herman Brodie, Russell Napier

Andrew Smithers is co-author of Module 1: Valuing Stock Markets. Andrew founded Smithers & Co, a leading advisor to investment managers on international asset allocation, in 1989. Before starting Smithers & Co, Andrew was at SG Warburg from 1962 to 1989. He has been a regular contributor to the London Evening Standard and Sentaku Magazine, writes regularly for the Nikkei Kinyu Shimbun and his OpEd pieces appear periodically in the Financial Times. He is the co-author of Valuing Wall Street with Stephen Wright, Japan’s Challenges for the 21st Century with David Asher and Wall Street Revalued – Imperfect Markets and Inept Central Bankers (2009).

Stephen Wright is co-author of Module 1: Valuing Stock Markets. Stephen is a professor in economics at Birkbeck College, University of London. He was previously a staff economist at the Bank of England and a senior research associate in the faculty of economics and politics at the University of Cambridge. Since 1991, he has been a part-time consultant to Smithers & Co, writing reports for professional investors on financial markets. He is the co-author with Andrew Smithers of Valuing Wall Street, published in 2000.

John Greenwood OBE is Chief Economist of INVESCO plc. A graduate of Edinburgh University, he did economic research at Tokyo University and was a visiting research fellow at the Bank of Japan (1970-74). From 1974 he was Chief Economist with GT Management plc, based initially in Hong Kong and later in San Francisco. As editor of Asian Monetary Monitor he proposed a currency board scheme for stabilizing the Hong Kong dollar in 1983 that is still in operation today. Mr. Greenwood was a director of the Hong Kong Futures Exchange Clearing Corporation (1987-91) and council member the Stock Exchange of Hong Kong (1992-93). An economic adviser to the Hong Kong Government (1992-93), he has been a member of the Committee on Currency Board Operations of the Hong Kong Monetary Authority since 1998. Mr. Greenwood is a director of INVESCO Asia Ltd in Hong Kong, INVESCO Asset Management Singapore Ltd, and the Hong Kong Association in London. In 1980 he translated Yoshio Suzuki’s book, Money and Banking in Contemporary Japan from Japanese. In 2007 he completed a book entitled Hong Kong’s Link to the US Dollar: Origins and Evolution which covers the collapse of the currency in 1983 and its subsequent restoration to stability under the plan he devised.

Peter Warburton is the author and teacher of Module 2: Investing in Periods of Inflation, Disinflation and Deflation. Dr Peter Warburton moved from academia to the City of London in 1986. He was chief economist at Robert Fleming from 1989 and in 1996 formed his own consultancy company. He has been a member of the Institute of Economic Affairs’ Shadow Monetary Policy Committee since its inception in 1997. Peter acts as an economist to the investment management company Ruffer LLP and is managing director of Halkin Services Ltd, an international risk analysis business. He is author of Debt and Delusion.

Herman Brodie is the co-author of Module 4: Behavioural Finance. Herman spent a decade in investment banking roles in Paris and in Frankfurt, but received his grounding in the financial markets as a quantitative trader of currencies and financial futures in London. In 2000 he co-founded his first company, Cognitrend, a consultancy to advise financial institutions on the utilisation of behavioural finance research. He currently pursues this goal as Managing Director of Prospecta Limited.

Russell Napier is the co-author of Module 5: A Practical History of the Stock Market and Financial Institutions. Russell was a fund manager for five years before joining the broking firm of CLSA as an Asian equity strategist in 1995. From 1997-1999 Russell was ranked number one for Asian equity strategy in most industry polls. He moved to a consultancy role with CLSA in 1999. Russell is also involved in the buy-side as a member of the investment committee of Cerno Capital Partners and as a director of the Scottish Investment Trust and the Mid Wynd International Trust. Russell is author of Anatomy of the Bear: Lessons from Wall Street’s Four Great Bottoms (2007).