Managers to Watch: Seneca's Tom Delic: 'I am looking for managers with stoic characteristics. It tells me they are thinking about investing in the right way'

Value approach

When Tom Delic, currently a fund manager at Seneca Investment Managers, started his career at Royal Liver Group in 2009, the first book he was handed by then CIO Paul Bishop was The Intelligent Investor by Benjamin Graham.

The book had a "huge influence" on Delic, and Graham's ideas - such as ‘Mr Market' and ‘margin of safety' - have meant he has been a value investor since the moment he read it. "It is the only book that sits on my desk, which tells you a lot about how important that book has been to me," he said. "The things Graham talks about in the book will never go away as long as humans are operating in the stockmarket." Delic said joining a big institutional manager with a long-term mind-set at the start of his career was vital for his development, as it enabled him to avoid the market drawdo...