Schroder Uk Public Private Share Discussion Threads

[spectoacc] 18/2/2021 11:33

One for you @Jonwig:


SUPP been weak since Woody's news - including a dip yesterday afternoon - any investee co news? Surely ATOM got to raise soon, & RUTH too.

[eeza] 17/2/2021 15:12

"The City watchdog has said that the one-time star investment manager Neil Woodford, whose funds were shut down in 2019, still faces the outcome of a regulatory investigation over the collapse and will need authorisation before his plan to return to the investment management business."

[jonwig] 17/2/2021 08:54

Woody getting the treatment from The Times again today. A Leader, too!

[spectoacc] 16/2/2021 15:43

Same on RAVP, 101p and didn't get nearly what I wanted. Standard cr*ppy Invesco to dump way below the market, to the detriment of their customers, whilst not even giving the rest of us a chance.

RAV a Woody punt too of course, its managers helping arrange the Guernsey listings of the likes of RUTH.

Forgotten NRR - should have kept a list. Forget about the ones that went to zero too, other than the really heinous like NorthWest Bio and RM2 (which he backed with yet more cash & ended up owning 60% of it - or was that Barnett?).

[cc2014] 16/2/2021 15:36

I guess if some High Net Worth/Sophisticated investors/other fund managers want to give him some money and he gets his foot in the door, we should look on the bright side as it won't be long before he is trying to buy up 30% of NRR or RGL or AA or whatever again. NRR back to 250 and RGL at 100 etc.

If anyone is stupid enough to give him enough money to let him repeat his mistakes I will be happy to contribute to taking their money off them via Woodford.


As an aside I'm not sure if Invesco have not finished resolving Barnett's mess and would be happy to hear of anything them are still trying to shift. They dumped all their RAV's at 20.5p and RAVP's at 90p earlier in the month for which I was happy to "fill my boots" alhtough I didn't get anything like the price Invesco sold at.

[spectoacc] 16/2/2021 15:11

Indeed he did - or at least, sold 60% I think, without telling anyone, later claiming it was to pay a tax bill. Got a good price on the way down - still not sure how that's allowed, the manager busy promoting it whilst secretly unloading.

Liked the suggestion Woody should prove himself for a few years, before managing money for others again.

[chinahere] 16/2/2021 14:43

The articles at the weekend present Woodford as forced out by Link.

But Woodford sold out of WPCT early didn't he.

How he can expect to just stroll back into managing money I don't know.

[jonwig] 16/2/2021 09:27

The Times is going guns on Woody - three articles since Sunday.

[spectoacc] 16/2/2021 09:24

Behind a paywall, but some highlights:

"The decision by Woodford, 60, and Craig Newman, 50, who was chief executive of WIM, to unveil plans for a new venture despite the incomplete investigation and liquidation of the Equity Income fund has raised eyebrows among former WIM staff members.

So too has Woodford’s decision to team up again with Newman. “Once bitten twice shy,” a second ex-employee said. “Why would you still be going back with someone who failed in their job to run a business?”"


"Former WIM employees have described Newman’s style as “aggressive”."


"Woodford’s new business will advise Acacia Research, an American firm, on the life sciences investments that it bought from Equity Income last year as part of the fund’s winding-up."


"One source, who was closely connected with WIM and described Woodford’s comeback plan as “astonishing”, suggested that basing some of the operations in Jersey could be to “avoid” the FCA. Another source who was close to WIM said: “It’ll be interesting to see what regulators say.”"


"Top Ten stocks in WEIF as of April 2019, and performance since:

BDEV +16%
BUR -61%
TW -5%
PFG -51%
Theravance -18%
Benevolent N/A (but was written down by a third when Temasek took a stake, so -33%)
IPO +6%
CSP +33%
AUTO -72%
ON N/A (but likely up a fair bit, float still to come)."
(Largest first, BDEV at 7.53%, smallest ON at 2.57%).

Don't know if they've included divis, but that list should put to rest "I just needed more time". We know what you needed Woody, & you got it.

[tim 3] 14/2/2021 19:41

Porsche194514 Feb '21 - 15:54 - 801 of 803

Came to a similar conclusion and sold out of most UK shares just have a bit in IT's and half my investment funds are in S&P trackers now.

I know the US is risky and will not buy the Nas but (unlike Woodford) have factored in that I could survive a crash and keep a fair amount in cash.

If the US does crash then I strongly believe the FTSE and others will follow.

[tim 3] 14/2/2021 19:19

One thing Woody is good at is talking the talk.The classic it would have come right in time line reminds me of what rookie investors post on advfn AIM threads every day.Just how much time does he need 20, 30 years ? well many who invested did so for their retirement and would need funds well before that.He blames Link for winding it up to soon well maybe if he had done basic due diligence before buying so many unlisted stocks they would never have had too.It was his fault that the fund initially got gated as he could not cover redemptions.Did he never think what happens if values drop and people want their money? Intersting the interviewer asked if he had been an investor would he suing himself there was a very long pause.Suspect the only reason he is back is for his ego!!

[spectoacc] 14/2/2021 17:27

US big tech is a massive bubble, but can't argue it's not been the place to be.

Have had a chance to read more on Woody - new fund will be professionals only (and there's plenty thick enough to invest), and early-stage biotech.

Heck, that's where there's been a few winners like ON, Kymab, Immunocore etc.

And yet... This is partly what got Woody & Craig into this mess. Early-stage biotech isn't liquid for redemptions. And whilst there's been winners, what about the losers? Northwest Bio? Circassa? And if your biotech portfolio hasn't massively shone during Covid, when on earth will it?

Woody's id has allowed him to construct this reassuring false narrative of it being Link's fault for closing the fund too soon, of it being "just needed more time", of picking out the few winners as justification. Yet early stage/biotech is partly what WPCT was, and that's been a 7 year pile of dog poo. Not only down more than half in NAV terms, but little prospect of ever returning to issue price.

Bottom line is that Neil & Craig failed, magnificently, with the most hubris you'll ever witness. And rather than learn the lessons, he's back for more, defending his previous actions and blaming others for his downfall.

[porsche1945] 14/2/2021 15:54

housebuilders havnt been paying divs most of this year and the shares are pretty average....you know was looking through george soros’ top 50 holdings, he hasnt made less than a 20pc return once in 40 years....all US investments and mostly now leaning towards quality growth and tech. Woodford and his buy brexit britain cxxp and the poor dopy investors blindly following HL’s advice when HL’s own funds are utter dross too, really unless you are willing to invest outside uk in growth you would be better/safer whacking it into property....the market has changed, the business models of uk companies are no longer relevant and the tech growth generally just isnt sufficient quality. I shifted to only usa and developed asia 3 years ago and id advise anyone else to do the same.

[spectoacc] 14/2/2021 13:12

Woody's housebuilders have done reasonably well - plus divis on top - but anyone think of any other sector or stock pick that did well within WEIF, WIFF, or WPCT?

Could have added PFG to the midcap list above - 5yr high well north of £20, now £2.65.

[pete160] 14/2/2021 11:59

Seems like he's walking away from ordinary shareholders just the same way that Fred Goodwin did with RBS and both the industry and the regulators are happy to turn a blind eye to the individuals complete lack of scruples or genuine remorse.
I bet Philip Green has already been on the blower asking for details of his PR team.

[porsche1945] 14/2/2021 11:07

I wonder if grotty Hargreaves Lansdowne will be punting Woody’s sxxt again haha. FCA altho utterly useless may prevent him (for years) while enquiry and possible legal case going on. His funds were abysmal, the investments dross, the few he did get right like PB he was too stupid to offload when in good profit, and he knows nothing about biotech, Prothena was shocking. Short sellers will be rubbing their hands together again.

You dont invest in covid brexit self harming basket case UK, you trade it, the S&P is where you invest.

[pugugly] 14/2/2021 10:42

Interesting article re Star fund Managers who fail when they change tracks

[riskvsreward] 14/2/2021 08:47

"...Would have been vindicated if [WEIF] had stayed open".

Still sounds like a gambler saying 'The tail' will appear if I keep flipping the coin.

[dr biotech] 14/2/2021 08:42

And he didn't draw a salary once it was shuttered. Seems that the other 40 or so staff had to get by on 60k per day between them. Just how much were they on?

[spectoacc] 14/2/2021 08:18

Well, I did wonder!

"...Would have been vindicated if [WEIF] had stayed open".

He's learnt next to nothing. And there's enough fools who'll still invest with him, and believe his spin and lies. Just as they did before.

How blindingly obvious is it that the unlisted stuff is only a fraction of the problem.

He couldn't pick large caps (tobacco, banks), he couldn't pick midcaps (Capita, Kier) and he couldn't pick smallcaps (EVE, RM2). Defending them and averaging them and believing in them to the end.

KIE, for eg, has a 3 year high of over £10, now 77p. Capita a 5 year high over £6, now 40p. Plenty of other examples amongst the Woodford dross.

The few post-Woody winners, ironically, have mainly been among the unlisteds - perhaps investors would have seen half their money back?

Unlisted winners include OSI, AJB, Kymab, ON. Not sure when he first punted PURP and ALM but both 10-bagged when listed, before falling over 90% (which is when Neil finally sold).

Wonder how many will be crying for him having to sell (one of) his £30m house?

It's the misrepresentation I find galling.

[jonwig] 13/2/2021 20:36

Neil Woodford has broken his silence on the collapse of his investment firm and revealed he plans to start all over again in a tearful and defiant interview.

Speaking publicly for the first time since his business imploded in October 2019, exclusively to The Telegraph, the fund manager said he was “very sorry for what I did wrong”. But he lashed out at the administrator of Woodford Investment Management, Link Fund Solutions, and rejected widespread criticisms of his operating style.

Mr Woodford broke into tears as he defended the firm’s culture and denied claims its failure was partly caused by machismo and the presence of “yes men”.

Alongside his lieutenant Craig Newman, Mr Woodford is now preparing to launch a new investment firm based in Jersey, Woodford Capital Management Partners but vowed not to repeat his mistake of investing ordinary investors’ cash in illiquid start-ups, who were cut off from their money for months due to a shortage of cash.

The full interview can be read below.

[the air marshall] 10/2/2021 08:39

This thread is the best thread on ADVFN. I do so love watching the silly spectoacc and his mates being skewered mightily every day. He isn't bright enough to troll and chew gum at the same time. Hence his pathetic contortions.

0p-20p was it? Never.