What was your best investment?
Purchasing a 1947 20 quart Hobart mixer 30 years ago. It’s still being used on a daily basis and has paid for itself in spades
Are wise investors born or made?
Made. You may have flair, but this only comes after mastering the basics, and these are learned.
Do you believe it’s become harder for entrepreneurs to make prudent investments since the crash of 2008?
It’s difficult to say. True entrepreneurs are by their very nature always willing to take a risk, but the best assess the situation fully before committing. Despite the 2008 crash, there a still lots of opportunities out there.
What’s the worst investment you’ve ever made?
Buying a second hand oven which was packed with more problems than you could throw a stick at.
What advice would you give to entrepreneurs looking to make a major investment?
Research and understand the market, assess the risks and above all understand your attitude to risk.
Which sectors are likely to offer handsome returns for business investors?
If I knew the answer to that I would probably be living in the south of France. Seriously, provided you do your research, assess the risk and take a long term approach, I believe that there are sectors such as property which still offer great opportunities for the right investor.
Are there any sectors you feel should be avoided?
Only those you don’t understand or feel uncomfortable with.
What lessons did you learn from your worst investment?
Buy cheap, buy twice. Clearly not always the case (see Hobart mixer) but understand what you are getting into.
What was the best piece of investment advice you’ve received?
I have received advice from lots people over the years, some good and some not so good. The important thing is believe in yourself, trust your instinct and be realistic.