Steve Clapham

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, and over 250 professional investment analysts and portfolio managers at some of the biggest funds in the UK have taken 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 also runs a popular online training school.

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 enjoys reading, yoga, and skiing and is interested in investment theory, wine and classic cars. He is regularly featured in the press, including the Financial Times, the Times, Sunday Times and City AM as well as on Real Vision, The Acquirers Podcast and the Today programme on BBC Radio 4, talking about accounting issues at quoted companies. He writes regularly on accounting and governance topics, both in his blog and in his free to access members’ community.