UK's Isa 'millionaire' explains secrets of his investing prowess

The author who claims to be the UK's first Isa millionaire, Lord Lee, has written a 'financial autobiography' revealing his investment methods and philosophy. The story of how a serving Liberal Democrat life peer became Britain's first Isa millionaire is published for the first time next month.In his book, How to Make a Million - Slowly: Guiding Principles From a Lifetime Investing', Lord Lee of Trafford reveals how he amassed his Isa fortune through simple guiding principles and "a healthy dose of patience."The former Conservative MP and investment journalist - who has been described as one of the "UK's most successful private investors of the last 50 years" - breaks down his "tried and tested" long-term investing strategy and methods to provide a step-by-step guide for amateur investors to follow.{desktop}{/desktop}{mobile}{/mobile}John Lee, a minister for Defence, Employment and Tourism in the Thatcher era, advises against the 'get rich quick' and short-term "casino traders" school of investing. His preferred slow-burning "wisdom before wallet" approach is similar to that of his personal heroes, legendary American investor Warren Buffet and late Anglo-American investor, Benjamin Graham.Describing investing as one of the three "cornerstones" in his life, along with politics and family, Lee has used his investment acumen to accumulate, "brick by brick", a successful portfolio.One of his successes has been with the PEP/ISA scheme. Starting with an investment pot of £125k in the 1980s, Lee had by 2003 turned this into a portfolio of over £1million. Today, it is worth "considerably more".In the book, Lee discusses his investments over the past 50-plus years and the lessons learnt from failures and opportunities missed. He looks at how amateur investors can spot opportunities, research prospects and monitor the market to ensure the best returns.To help illustrate his anecdotes and points, Lee reprises more than 30 of his 'My Portfolio' investment columns written for the Financial Times over a period of 15 years. Each is reprinted in full and includes reflections by the author, prepared with the benefit of hindsight.The 170-page hardback priced at £17.99 will be published in December by FT Publishing, an imprint of Pearson.A spokesman for FT Publishing said: "How to Make a Million - Slowly is a truly fascinating and authoritative how-to guide from one of the UK's most successful private investors."

UK's Isa 'millionaire' explains secrets of his investing prowess

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