Teddy Butler-Henderson

When Teddy died in 2002 he left behind him a small investment advisory service called Naydale Services, and a huge number of friends and correspondents in many countries for whom his often contrarian thoughts were part of their daily lives. He left a gap – so much so that many of his clients contacted Tom Griffin, the remaining director at Naydale, regarding perpetuating, as much as possible, the Service. It was fortunate that Peter Warburton, whom Teddy admired, was willing to take it on. Halkin Services was founded.

After a career in the City Teddy decided to work from home when his wife’s health deteriorated. This is when the Naydale twice-weekly letters really took off. Splendidly idiosyncratic and full of provocative comments on an amazing variety of topics, and with copies of all sorts of economic and financial papers attached. He created a one-man clearing house of information unlikely to be gleaned from more orthodox sources.

No one could replace Teddy’s unique qualities, both as a one-man network and as a passionate advocate. Teddy would be hugely cheered that the work of his old age has inspired such an impressive successor company.