Woodford Patient Capital Share Discussion Threads

[p1nkfish] 02/9/2017 18:20

Keep talking it down chaps. I like.
Between now and Nov 2018 will be interesting.

[pugugly] 02/9/2017 17:17

Realistic value -imo - as stuffed with unquoted start-ups should be nearer to 20% discount to ntav - May come right in the end but will lose a lot of coys and sunk cash on the way. No real handle on how the unquoted coys doing but latest quoted one for the Rescue Box and being delisted - taken private at a very significant discount is SPHERE - Do the sums - not for widows and childen at this stage -

[nimrod22] 01/9/2017 12:43

NAV shown as 102.5p

[nimrod22] 31/8/2017 08:33

Bought and sold these shares a couple of times on the dips and rises, time to buy again for another ride up.

[rackers1] 29/8/2017 18:49

I didn't. You moron.

[topvest] 29/8/2017 18:34

The model is fine, BUT they needed to buy in LOW. Not convinced the entry price on most of Woodfords investments here were at a particularly low price. Agreed that I can't see the model working. We are at or near the end of a 10 year bull market. If a speculative portfolio is under water now, what will it look like in a bear market? The use of leverage was also foolhardy.

[mochyn] 29/8/2017 18:07

Why did you buy it then, if you think that?

You must be very thick. LOL

[rackers1] 29/8/2017 16:48

10 pct in a year here is a pipe dream.

[jonwig] 29/8/2017 15:43

pinkfish - and investors in VCT, EIS (I'm one) would not accept the risk without the substantial tax advantages to compensate.

It's also the case that biotech needs considerable stage funding on the way to success (a trade sale) or failure. 'Buy and hold' isn't the option, it's 'buy and support'.

I'm not 'knocking Woodford', but I have begun to feel that his model for this trust (breadth rather than conviction, and 20% gearing) is not going to deliver his promised long-term 10% pa returns.

[p1nkfish] 29/8/2017 14:09

Anyone with EIS or VC experience knows what he's upto with the qty of holdings and that failures are expected, evenue from the most experienced. It's the nature of the beast.

Bio and disruptive areas in general are those from which major growth comes but also bring risk and the more nascent, even more the risk.

[masurenguy] 29/8/2017 11:43

On my watchlist but while this probably has good long term potential we may still see some further decline in the short term.

The attacks on Woodford are ridiculous. He is a very talented fund manager with a long track record. However that does not make him omniscient or infallible. He has had a couple of major setbacks this year but that may possibly present a more interesting entry level in due course.

[henchard] 29/8/2017 11:22

The Oxford Whale

"Question for the bulls - if we aren't allowed to "tar with the same brush", please can you explain why exactly you are putting faith in woodford to pick stocks in an area he has no experience in (small cap biotech stocks)?"

I'm agnostic about WPCT at the moment, but to be fair to Woodford, he's been investing in small cap biotech stocks for years, well back in the Invesco days. I don't know how much value those stocks added to the outperformance of his Invesco Equity Income fund but certainly it can't be said that this is an area of the market he has no experience in. I presume his decision to launch WPCT was because he had enjoyed some success with small cap biotechs.

[the oxford whale] 29/8/2017 10:50

Question for the bulls - if we aren't allowed to "tar with the same brush", please can you explain why exactly you are putting faith in woodford to pick stocks in an area he has no experience in (small cap biotech stocks)? Most people would come to the logical conclusion that if someone is struggling in an area they have 30 years experience in (blue chip stocks) , then they are unlikely to do any better in another area they have little knowledge of.

[nimrod22] 29/8/2017 09:28

Still further to fall imho, about to cross the 200 day moving average

[mazarin] 28/8/2017 17:34

I instructed to buy at around 88.2p via a 3rd party broker, which meant that my selling process was a rather slow winded affair. I've since changed to a more direct Fidelity dealing account with a view to executing promptly when I think it appropriate.

I was aware of recent rises, as identified and mentioned in my previous posts, but I didn't expect them to be so 'short lived' so I will have to just wait for a more positive pattern to establish itself. Under the old system of brokerage it would have taken a week to execute an order, during which time the price could have easily moved against me. As occurred when I bought it, so the price I effectively paid was 94.6p

[toffeeman] 28/8/2017 15:56

So can we take the return column and multiply this figure by the average position size (divided by 1000 to get a weighting) and then take the average for those stocks where there is data.

If so it gives an average positive return of 4.6%

Please crit

[kallistos] 28/8/2017 15:54

That should keep the trolls quiet for a while..... until they make up some more meaningless rubbish. They take their cue from wee Donnie Trump who thinks that it's at all right to peddle untruths and then ignore or excoriate those who correct him.

[toffeeman] 28/8/2017 15:28

Henchard - many thanks - I had not seen that.

My only comment is that while it is helpful we should know the original and average purchase cost in order to calculate the true return - an annual figure is not very helpful!

[henchard] 28/8/2017 14:05

To keep our investors informed, we are committed to providing full disclosure of the performance contribution of the Woodford Patient Capital Trust’s holdings on a quarterly basis.
Please find the performance contribution of the portfolio holdings below.

[kallistos] 28/8/2017 13:56

"riskvsreward28 Aug '17 - 11:48 - 1115 of 1119 0 1

...........
alm, ipo, ivo, dddd, oxp, ver, cir, rene, hvo, halo, sphr, eve, rene, bmk, mtph, rm2, etc etc
and most of those listed above are more than halved."



Just not true, just bluster. And even if it were true your post would be meaningless because in the 'past year' the Net Asset Value has risen. How do you trolls explain that?

(Small note: the price of rene which you name twice did not halve in the past year)

[riskvsreward] 28/8/2017 12:43

For the ones who cannot understand "etc", it means more can be added to the list like: Northwest Biotherapeutics, verseon, trx, itx, nsci and MORE.

So out of 35 listed shares in the portfolio, you have more than 20 badly performing shares in a bull market.

[riskvsreward] 28/8/2017 12:29

Obviously struggling to understand "listed companies" and what "etc" means.