Woodford Patient Capital Share Discussion Threads

[spectoacc] 02/12/2019 07:45

Sunday paper talk that it's again Temasek who might bail out a Woody co - Oxford Nano this time. Said it before, but I think ON might be a decent co (unlike, for eg, Benevolent AI, which Temasek have also funded, and IH, which no one in their right mind would touch).

Temasek gone a bit "Softbank" IMO, but good for WEIF holders if they buy out Woody at the same time (something they didn't do on Benevolent).

[rcturner2] 02/12/2019 07:45

Buying into a stock or investment trust such as this is more akin to a gamble than an investment. Now some people are happy to take such risks and some people who buy do not fully understand the risks.

Personally I don't generally go for such gambles, but there always seems to be people who do.

[jonwig] 02/12/2019 06:41

Accounts of one Woodford stock (Mafic) have not been signed off by its auditor four years in succession.

And Cell Medica has been written down by 70% (one of the unnamed ones in a recent RNS) since being part of the transfer from WEIF to WPCT.

Details:



Yet more reasons for dismissing as fantasy that daily figure provided by WPCT.

[spectoacc] 01/12/2019 19:41

2x 21,576,007 ESL in the Trades pages at 6p so that may well be right - assume it's not Woody tho, assume it's the (not BlackRock) co. Also lost track of where ESL up to - Tinkler's (Fat Bloke Finance) bid looks DOA, Wincanton pulled out, but still the original deal on the table?

If 6p is the possible price, doesn't look so good for STOB, who hold a load too.

Once again - a huge discount WEIF sale, that none of us get an opportunity to bid on. RAVC/P another. If the rest of us don't get a chance, the price WEIF/WPCT/IIF holders get is inevitably going to be lower. Not saying I'd have bought ESL, but I'd definitely have had some RAVC/P down there, or at a penny or two above what they got.

Edit - looks like DBAY (original & ongoing offeree) is the other side of the trade, ie buying. Wasn't aware you could deal in a co that was suspended, even (notionally) off-market, unless closing a short (which they're not).

[topvest] 01/12/2019 17:30

Blimey that’s what you call a stupid sale. Better to not sell Eddie Stobart than to sell for that price...what a car crash.

[cc2014] 01/12/2019 11:39

According to ESL thread WEIF have sold their shares for 6p. Suspended at 71p and down from a high of (I can't even be bothered to look up)

[spectoacc] 29/11/2019 13:47

Minor in the scheme of things, but still interesting:



Eg:
"Fund administrator Link has written down the value of Cell Medica by around 70%, eight months after the trust's stake in the company was hiked as a result of a swap deal with the Woodford Equity Income fund."

Last para:

"Woodford is meanwhile attempting to reduce borrowing in the Patient Capital trust before handing over management to Schroders before the end of the year."

Good luck with that.

[jonwig] 28/11/2019 16:42

careful - "A knowledge of obscure poets and the King James Bible."

Google is a wonderful thing: it enables anyone to wear a magic cloak on a bulletin board. And one individual can have numerous personae and specialist subjects. Don't get too carried away by apparent wisdom.

Actually, this share price is not too far from what I thought might be "greedy punt" level. But these days I don't need that kind of excitement. Go on, fill yer boots, but it won't be "careful" of you. Some might say it won't end well.

[careful] 28/11/2019 15:35

Steady as she goes today for wpct.
Is this the turning point, onward and upward to sunlit uplands.

Great to read such cultured posts on this thread.
A knowledge of obscure poets and the King James Bible.

Amazes me how such people are always so innumerate.
We all have our special subjects I suppose.

Mine is contrarian investments, it is a gift.

[jonwig] 28/11/2019 07:16

Rutherford Health is an avid collector of Neddies: number eight appointed today. A sign of megalomania.

Meanwhile the ex-Woodord stake is still there to be explained.

[spectoacc] 27/11/2019 14:30

Lol @RCT2. Plenty of evidence of that thus far!

[rcturner2] 27/11/2019 14:19

or

"a fool and his money are soon parted"

[careful] 27/11/2019 14:14

Free thinkers alway ignore the rants of the masses.

[chucko1] 27/11/2019 13:26

“Topped up” = bought yet again as unable to believe or accept the current losses.

Worse than that is that you have failed to understand how they have come about, notwithstanding many, many posts on this board which have outlined just those risks.

Quite remarkable.

[careful] 27/11/2019 13:04

Just topped up with a few at 28.5p.
A Black Friday bargain.
2 for the price of 1.

[my retirement fund] 27/11/2019 12:03

100% correct Topvest and no amount of disgruntled posters red ticking you down can change that fact! They have been well and truly shafted !!!

[andy] 27/11/2019 11:48

careful,

You're the only guy that believes the numbers, that's why.

[careful] 27/11/2019 11:23

Is there any hope here?
discount to net assets 50%.

Why do they quote such meaningless numbers?
it should be illegal.

Why no buyers at this level?

[spectoacc] 26/11/2019 19:52

Fat Bloke Finance.

Quid pro quo for bailing Woody out of a (then) hole in Guernsey? That went well...

[topvest] 26/11/2019 19:50

Sabina and Raven Russia have really turned the Woodford funds over! They have both generated enormous shareholder value by doing a buy-back with a forced seller. Unfortunately, the other side of this is the loss of Woodford investor's hard earned cash.

[spectoacc] 25/11/2019 16:48

"The largest loss has been shouldered in the sale of the fund's stake in Sabina Estates back to the company for €50 million (£43 million), around half the £85 million at which it was valued by the fund."

Interesting reminder of the Sabina/RAV/Guernsey listings connection on CityWire.