Hargreaves Lansdown Share Discussion Threads

[a1samu] 05/6/2019 09:45

5.6.19 Deutsche recommends sell to £15

[saltaire111] 05/6/2019 08:35

Hpcg - excellent call with yesterday’s post.

Salty

[montyhedge] 04/6/2019 20:42

Telegraph online seems to be laying into the arrogance of Woodford.

[hpcg] 04/6/2019 16:17

IMO this will be a slow burner as the swift de-risk, as we saw on the open, while there remains a bid from dip buyers, as per the middle of the session. HL are reliant on platform fees from open ended funds, and their trusted name to generate business. At this share price people are paying for profits years in advance. This event only has to slow growth to bring the multiple down to something much more reasonable.

[wantage] 04/6/2019 15:17

What happens when financial press finally question valuation of woodford's unquoted
stocks?

[montyhedge] 04/6/2019 11:54

Can't see this bouncing short term, high p.e, brown stuff not really hit the fan yet.

[hpcg] 04/6/2019 11:46

I've gone short on the bounce. Can see it going back to the trend line at least. As an HL customer I know their modus operandi is to promote the concept of the star manager. This episode damages that whole thesis, which as we know is nonsense in any case. As you say Ochs, their own holdings through the MM funds (layer upon layer upon layer of fees) cause direct damage. Their wealth 50 (whose wealth exactly?) might well be regulated out of existence as being in effect advisory. Hefty director sales and an uncertain stock market world wide. Good odds of the short coming good IMO.

[ochs] 04/6/2019 10:28

I'm short of Woodford Patient Capital, which is down quite a bit today. I suspect the board will now be under great pressure to fire Woodford as portfolio manager or he'll resign to concentrate on his struggling unit trusts.

Another short opportunity could be St James Place as they have a number of their funds run by Woodford and unlike HL have provided paid for financial advice to clients to invest with Woodford. As you probably know HLs 'recommendations' are all on a non-advisory basis. That said they've chosen to retain investments with Woodford through their multi-manager funds which is likely to hurt clients invested in those.

[chucko1] 04/6/2019 08:25

Only off 4.5%. I have to short it here.

[ochs] 04/6/2019 08:17

greatballsoffire451 - you were right that the HL share price has fallen first thing (as has Woodford Patient Capital), however why do you think HL won't take monthly fees on investments in the suspended Woodford fund? Client's will still hold it and it will be valued at the last quoted asset value (ie. from 31/5).

[greatballsoffire451] 04/6/2019 08:11

Many online comments elsewhere are slaying HL.Doesn?t bode well for the open tomorrow for HL. Back down below ?20. Worth a short I think.Sub £20 here we come

[saltaire111] 04/6/2019 08:11

Come over to AJ Bell - it’s great there...

Salty

[greatballsoffire451] 03/6/2019 22:09

"Clearly at present with dealing suspended clients can't actually sell the Equity Income Fund (but HL will still take their monthly fee from those investments!)"Errr I don't think so.

[ochs] 03/6/2019 21:40

HL were certainly foolish to keep the 2 Woodford funds in their Wealth 50 for so long, but apart from reputational damage I don't think this will affect their bottom line all that much. Infact it might actually help because most of HL's money is made from the 0.45% platform fee - and as the Woodford fund's have fallen in value this will have gone down - so going forward if new investors instead choose alternative funds (from the W50 or elsewhere) and they go up, so too does HL's 0.45% in monetary terms.

Clearly at present with dealing suspended clients can't actually sell the Equity Income Fund (but HL will still take their monthly fee from those investments!)

[greatballsoffire451] 03/6/2019 21:28

Many online comments elsewhere are slaying HL.Doesn't bode well for the open tomorrow for HL. Back down below £20. Worth a short I think.

[montyhedge] 03/6/2019 21:09

Yes, very fortunate share sales, just before brown stuffed about to hit the fan.

[greatballsoffire451] 03/6/2019 20:24

Those director sales were very prudent ahem. They knew that Woodford was gonna hit the skids. Along with most other sane investors.

[stewart64] 29/5/2019 13:20

Site has crashed for online dealing, confirmed by telelphone. Edit. Back on just now at.

[eh9] 22/5/2019 16:09

Could just be fund managers getting out of leveraged plays in the market given populists about to take over leadership of the country

[ochs] 22/5/2019 11:24

Could well be... 7.5m shares looks to be just over 1.5%, so could probably only be Stephen, Peter (unlikely) or Lindsell Train.

[lomax99] 22/5/2019 09:30

Presumably another sale by Stephen Lansdown....

[ochs] 22/5/2019 09:27

Well spotted, that's a huge sale and certainly well below yesterday's market price. Not many people have 7.5m shares available to sell!

[lomax99] 22/5/2019 08:13

A late reported sale for 7.5m shares at £22.80, for a value of £171m knocked the share price at open. An RNS shortly perhaps.