Investing for Growth (Second Edition)

Can dynamite be reassuringly explosive? This book certainly is. Terry Smith has had plenty to say about the stock market in the last ten years and, like his funds, he’s been bang on the money all the way through. – Jonathan Davis Editor, The Investment Trusts HandbookWhat sets him apart is not just his formidable winning streak, but the principles on which he has chosen to take a stand … Terry has always put his money where his (considerable) mouth is. – Lionel Barber, Editor, Financial Times (2005–2020)His essays are readable, easy to digest and refreshingly light on techno-babble. They will help you understand why some companies have durability while others, ostensibly doing well, suddenly disintegrate. – Jeff Randall, Presenter, Sky News (2007–2014)I could dispute something on around half of Smith’s pages - we’ve been bickering about fees for at least a decade. But I hugely admire his concentrated conviction-led, growth-focused approach, and, oh yes, his fund has done wonders for my self-invested personal pension. So I’m still reading every page. – Merryn Somerset Webb, MoneyWeek (‘Five books to put on your Christmas list’)One of the finest books that I have ever read on long-term value investing in high-quality businesses. Highly recommended! – Gautam Baid, author, The Making of a Value Investor

Terry Smith became a stockbroker with W. Greenwell & Co in 1984 and was the top-rated bank analyst in London from 1984 to 1989. In 1990 he became head of UK company research at UBS Phillips & Drew, a position from which he was dismissed in 1992 following the publication of his bestselling book Accounting for Growth. He went on to build two broking businesses, Collins Stewart and Tullett Prebon, from where he retired in 2014 to concentrate on his new fund management venture, Fundsmith.