RARELY does an analyst note make its reader smile quite as much as Derek Terrington’s famous circular that got him into trouble with media baron Robert Maxwell in the early nineties.
Terrington, at the time a media analyst with UBS, was issuing a research note in advance of the flotation of Maxwell Communications.
However, the late tycoon and his firm did not take kindly to the advice that Terrington dispensed alongside it, which read “Cannot Recommend A Purchase.”
Draw your own acronyms, readers.
The Capitalist hears that the humourous analyst has now joined Hardman – the research firm which has set up shop in the old Cazenove offices – and is specialising, naturally, in media.
Clients hoping Terrington has mellowed with age will be pleased to hear that most of the recent hires he and former Morgan Grenfell exec John Holmes – who is now in his late 60s – have made are on the “more senior” side.