In this episode we speak with Stephen Clapham - former hedge fund analyst, bestselling author, and founder of 'Behind the Balance Sheet', a leading investment training consultancy. With decades of experience spanning the sell-side, buy-side, and now education, Stephen shares the unconventional path that led him into equity research, how he built a reputation for forensic accounting, and what it takes to truly understand a company’s financials.

In this candid conversation, Stephen reflects on his career transitions, the habits that drive his productivity, and the evolving role of technology in investing. Whether you’re a finance professional or just curious about how top analysts think and work, this episode offers a rare window into the mindset of someone who’s spent a lifetime learning how to ask better questions—and read between the lines.