How investors can be fooled by development costs

Biotech and pharmaceutical investors, among others, need to watch out for the way firms treat the cost of developing new products, as this can have a big impact on a firm's results. In his fifth video in the 'cooking the books' series, Tim Bennett explains how.

By Tim Bennett

published 6 June 2013

in Features

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.