Stephen Clapham

Steve is the founder of Behind the Balance Sheet (, the premier investment training consultancy. The company runs Forensic Accounting Courses for leading institutions like Schroders, Hermes and Baillie Gifford – since the first course in June 2018, over 150 investment professionals have been through the programme. More recently, courses have been made available to private investors, both in-person at the City training academy and online ( Steve also produces bespoke research for a small group of institutional clients and is part time an analyst at Hardman & Co. Steve is regularly in the press on City AM and on the Today programme on BBC Radio 4, talking about accounting issues at quoted companies. 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.