The 12 worst investments of 2014, #5: Tesco

Decline in 2014: Tesco shares almost halved in value

See all 12of 2014's worst investments here

What happened?

a strategy to overhaul the business

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For him, the convenience of Lidl and Aldi posed too much of a challenge. In June, Tesco released some dire sales figures. A few weeks later, Clarke threw in the towel. Unilever veteran Dave Lewis was parachuted in to save the day but he did not have long to settle in.

The coming of autumn brought with it the mother of all accounting scandals. Four senior managers were suspended and shares plunged 12% in a day. The Daily Telegraph reported that the "Tesco black hole may be larger than feared".

Who are the losers?

a huge mistake

Who are the winners?

What happens next?

Bengt Saelensminde got out one of his favourite tools Bollinger bands in April, but couldn't bring himself to tip it. And nor could Ed Bowsher check out his video from the summer. MoneyWeek's number-cruncher Phil Oakley is not writing off the shares falling below a pound.

What have we learned?

See all 12of 2014's worst investments here