James Derrick Slater (born March 13, 1929) was an accountant for Leyland Motors who became famous for writing an investment column in The Sunday Telegraph under the nom de plume of The Capitalist, where he described his own portfolio. In 1964 he started an investment company with Peter Walker, a Tory MP, called Slater Walker—in actuality an authorized bank. He performed what became known as corporate raids on public companies. He was a friend and business associate of James Goldsmith The problems with Slater Walker led to support by the Bank of England[1] Following the takeover of the Company by the Bank of England 15 charges were brought against Slater for offences against the Companies Act by the Department of Trade—the misuse of more than £4,000,000 of company funds in share deals. The case was thrown out in 1977. Slater is now an author of investment books and children's stories (see A. Mazing Monsters). Slater's hobby was chess: amongst other sponsorships he donated $125,000 to make possible the 1972 World Chess Championship between Fischer and Spassky in Reykjavík, Iceland. Although it is frequently stated that he declared personal bankruptcy, he never did anything of the sort. By 1975 he famously found himself a ‘minus millionaire’ or owing £1m more than he had. This was repaid within a few years with interest.
External links
- Biography from Bioprojects International plc, of which he is Executive Chairman
- Global Investor investment advice site
- A.mazing Monsters children's books written by Slater
- Times article on Slater Walker
- Documents relating to HM Treasury's intervention in Slater Walker
