Woodford Patient Capital Share Discussion Threads

[liquidkid] 28/6/2016 12:29

NAV 85.64p vs WPCT 85.0p who's 'aving a laugh!
Since this correction is partly a liquidity issue, WoofofWoolSt and his math gnomes must be working overtime with rubber bands and sellotape trying to patch up the unquoteds number generator. Gotta fix it in time for month end...2 days away.

[chinahere] 27/6/2016 23:16

Their agenda is to make money by selling stories...

[riskvsreward] 26/6/2016 08:41

Read the pro-brexit daily mail MOney section head lines:

Petrol to go up 5p per litre as result of breixt,
house price to go down,
brexit to plunge UK to recession
Falling pound will hit expat pensioners: Those who get top rate of the State pension risk losing £817 a year
Holidays will cost more
Life's going to be more expensive

What they promised before the vote and misled the public?

Who is now scaremongering while the business people now trying their best to steady the ship and to manage with the dire consequence of those irresponsible media.

You have to wonder what is the agenda of the people behind daily mail, sun, telegraph.

[topvest] 25/6/2016 11:01

Think Woodford is good, but this trust will trigger his downfall if he doesn't get a grip on his error of judgement. Lots of over priced story stocks that crash down to earth when anything goes wrong.

[prewar] 24/6/2016 22:51

Thanks Tim

Risk, I personally think early days to assess just yet, taking FTSE100 as an example this is up 2% over 5 days, broadly flat across 1m, 3m or YTD and probably up if you factored in dividends. Sure most people would probably have preferred lower drops today but I guess those same folk weren't worried about the 500 point move up in the preceding five sessions.

[tim 3] 24/6/2016 22:38

hxxps://woodfordfunds.com/blog/brexit-long-term-outlook/?utm_source=blog-alert&utm_medium=email&utm_campaign=brexit-long-term-outlook

[riskvsreward] 24/6/2016 22:21

I would think when he said it is neutral to economy then it means it is at least neutral to the portfolio of his trust if he really is as good as a lot people believe and he knows what he is talking about.

I don't buy the long term neutral stuff as he doesn't
really give what long term means, if it could be one or two decades one could say even the depression of the 1929 scale is only a blip, but if you are approaching the age taking your pension, you cannot afford losing 5, 10 or 20 years.

A public figure like him with high respect and reputation is irresponsible for making light of the event. By any measure, a worldwide market crash of 4 to 10 percent and a crash of UK currency of nearly 10 % is not a neutral event. He should have warned people of the consequence of that, like the BOE chief, then perhaps not so many over 65s would have fallen for the cheap tricks.

Lets all hope this is a short term shock and the market will get back to normal, otherwise it will have significant consequence on people's life for those people who will regret their decision when hardship hits.

[prewar] 24/6/2016 21:54

Hi Risk

Can you provide a quote where Woodford said Brexit was neutral to the portfolio, I thought he was one of the few that said it would be neutral for the UK economy.

Either way maybe early days to assess after 12 hours......

[riskvsreward] 24/6/2016 21:06

The top listed holdings of Prothena and cir each down more than 10% today. This is the guy that claims that Brexit is neutral, obviously he didn't see the damage that will come to his or rather his investors' portfolio, otherwise he should have sold and hoard cash.

[harveydee] 24/6/2016 14:08

Swadee3 .. You clearly haven't a clue, talking about "discount" ! Even now at c. 89p the trust is trading at a significount PREMIUM to NAV ! After today's falls the NAV will probably be in the low 80s, or lower.

Do try to keep up.

[toffeeman] 24/6/2016 14:05

It's been lower!

[sawadee3] 24/6/2016 13:58

Ridiculous markdown on open, but an easy buying choice at that discount :-)

Very happy to have larger slice of Woodford goodness in the SIPP :-)

Happy days chaps :-)

[riskvsreward] 23/6/2016 17:31

Looks like some Institutional Investor has lost patinece, dumped almost 2mil at 91.9 P. Still expensive with NAV down again yesterday to below 87 p. NAV will recover a little today though but the price should trade on a discount given its under-performance..

[riskvsreward] 23/6/2016 11:09

what is troubling the trust is not just one or two duds in the bio/pharm. sector, but almost all the listed ones and all of them are of big stakes like gambling, not investing. Look at prothena, northwest, cir., vernalis, dddd, verseon etc etc.

The NAV as of yesterday is 87 pence, which significantly underperform even the FTSE.

Not deserving a prememium until it turns around soon and proves it is worthy of a premium.

[muffster] 23/6/2016 09:27

why is this at a premium?

[dr biotech] 21/6/2016 07:18

Circassa does look to have Ben a duff one. It's surprising how the placebo effect only surfaced in the PIII trial, makes you wonder how they designed their trials. There was always going to be some bumps in the road, let's just hope for some successes too.

[riskvsreward] 20/6/2016 21:43

too many holdings in this trust portfolio are at year low or near year low which says that Woodford made big mistakes in both sector and share selections. What made it worse, he seemed to have gambled big time on failed investment like Circarcrash today and Northwest sometime ago.

Long term, the jury is still out. Short term, definitely not great in timing and share selection.

He does have advantage of accessing unquoted investment which PI doesn't. Hope some of many of the unquoted investment will pull off like purplebrick. A J Bell could be one of them.

[liquidkid] 20/6/2016 15:36

In hindsight the problem with Circarcrash pharma (CIR) was not that its cat drug was a pup. It was because of the clear BAIT AND SWITCH.

When its biggest ever biotech IPO'd in 2014 Imperial Innovations touted it as an allergy specialist. less than a year later it came for more money to branch into Asthma dianosis, acquiring the 'sales force and commercial infrastructure' to
COMPLIMENT the allergy portflio.

Now that the cats been flattened this asthma platform is all that's left.

[liquidkid] 20/6/2016 09:46

Gets a double tap on this event because just last week Wolforfd got an huge Allotment of Deferred Placing Shares in Imperial Innovations IVO
(a Top CAT in a bag holder)
So it had probably pushed the IVO position into the top 10.

The thing with IVO is that this furred purrer is already dead (but stuck in the tree dangling from a branch). Woofpack chased it and killed it. The share is the most illiquid out there, virtually untraded. Circa 80% of the shares are held by these three:

IVO Situation resultant to the triggering transaction:
Woodford Investment Man 34.4mn 21%
Invesco Limited 63mn 39.75%
Imperial College 27.6mn 17.4%

[harveydee] 20/6/2016 09:26

The Circassia plummet today is the final straw for me. Dont think Woodford knows what he is doing in biotech. He has also now put 10% of his fund in just one stock, Prothena, which has been falling. He may have been very goid as a large cap fund manager but definitely not in biotech.