Woodford Patient Capital Share Discussion Threads

[andyj] 24/10/2017 10:05

NAV down again. This fund is 2.5 years old now, the patience is wearing thin.

[jonwig] 24/10/2017 07:46

Tempus in The Times has an opinion of WPCT:



[If you register you can read two articles a week free, but committed ostriches maybe shouldn't bother with this one.]

[riverman77] 23/10/2017 13:50

For PURP, I'm sure it's a company with good prospects it's just the valuation that is a concern, plus its vulnerability to cheaper competitors. Regarding his other funds, I actually like the new income focus fund as it is mostly good quality dividend payers and looks a good steady option. His main fund is too large though (I have particular issue with very large open ended funds as they become very difficult to manage)

[dr biotech] 23/10/2017 13:15

I don't know about anyone else, but as a casual observation I am seeing purplebricks signs everywhere. One of Woodfords few recent successes but I don't think it has much further to go either. But I would have sold at £1.50

About 20% of my entire holdings is in wooodfordsnvarious forms. Over the last 18 months they have been a real drag. My monthly investments are now all Marlborough or SL smaller cos. Both have great track records of growth.

Will continue to hold here until April when I may make some major changes

[riverman77] 23/10/2017 13:06

Another concern I have is the huge position in Purplebricks which I consider grossly overvalued and ripe for a fall. Admittedly this would have started as a small position so you can't blame Woodford for its current weight in the fund, indeed it's one of his biggest successes so far, but this needs to be scaled back quickly in my view.

[blueteam] 23/10/2017 12:45

the problem is the stock market at near highs, so when as it well have 10% correction this can only fall further. Lucky sold as it breached £1.

[andyj] 23/10/2017 12:37

NAV trickling down, back to where it was in April. Losing my patience with this.

[essentialinvestor] 23/10/2017 09:09

topvest, good summation imv.

My Dad asked me about WPCT in August and I gave similar view.

Some investors will have bought what they thought was a breakout.

[essentialinvestor] 23/10/2017 07:44

Woodford made his reputation on sector analysis, by either being
overweight or underweight/avoiding. In other words big sector bets.
Less so as an individual stock picker imv.

[riskvsreward] 22/10/2017 15:41

Neil Woodford's past glory was based on his conviction of boring tobacco and large pharmas, that pay good dividends and grows earnings consistently. In wpct he has been doing exactly the opposite, speculating on tiny bio-minnows,many of them unquoted, which are more risky than the TMT bubbles he was famously praised for avoiding around year 2000. This could be his undoing as he seems to lack the ability to pick winners in this field, as can be seen that he hasn't got one big bio-winners out of his many quoted companies,while other ITs investing in the same field like wwh and biog are making new ATHs all the year.

[topvest] 22/10/2017 15:03

The trust has never had a bubble valuation itself. Unfortunately, most of its investments were paid for at close to bubble prices. Hence, the very poor NAV performance and its likely to get much worse in my view when we have a correction or bear market.

[jonwig] 22/10/2017 10:57

Some will read the monthly reports. For those who don't, they are quite interesting and the comments section pretty full. Managers respond, too:



[May need to register to read.]

The argument that these will have no defensive strength in a market downturn is compelling. And NW's reputation is unlikely to recover in a hurry.

[diku] 22/10/2017 08:12

Did anybody play the move from 90p to 105p?...think low 80's would be a good buy if and when the general market corrects which is overdue...

[dr biotech] 22/10/2017 06:48

Given that these have gone down over the last 18 months it can hardly be said that they have been caught in a bubble. I still hold, Hoping for some solid news on the unquoted holdings over the next year or so.

[topvest] 21/10/2017 13:05

Too early to buy. We are near the top of a bull market. Technology shares are most exposed to a downturn of any sector in my view.

[pugugly] 21/10/2017 12:42

ttg100 - Agreed discount sounds interesting but with such a large proportion of unquoted companies difficult to tell real discount or possibly a premium as valuation of unlisted coys a very hit or miss technology.

[p1nkfish] 21/10/2017 12:25

Wonder if the styling down of ipo/ivo acquisition will have a positive or negative impact here.

[ttg100] 21/10/2017 09:37

Not a fan of funds but with near 10% discount have put some away to forget about

[lionheart79] 29/9/2017 00:05

been a holder since IPO. disappointing so far but no real desire to exit, looking for long term gains.

[tim 3] 19/9/2017 23:28

Am no expert in this area but agree with p1

Have a gut feeling that long term these will fly probably only need a few to succeed.

[elmfield] 17/9/2017 11:59

Anyway,
Thank you for your kind comments,
each to their own,
Afraid I was to sensible to put money into this,
Mind you I loose in many a share, as we all do.
you just carry on here and enjoy.

[careful] 17/9/2017 10:26

this market correction theory is odd.
there are so many ftse100 shares down 40% or so from their recent peaks and yet the FTSE is at near record levels.

BT, VOD, CENTRICA, RMG, RR., CLLN, and many more well off their peaks.

How do they work out the index?
it is weighted so companies such as Shell/BP have distorting effect.
The weak pound has given it a boost.

The FTSE100 is doing quite poorly measured in us $.

[nimrod22] 17/9/2017 10:04

I've bought and sold this share three times and only managed to break even. I know people will tell me its long term and you need to be patient; in which case I'd suggest waiting for the next market correction before buying back in. The markets are overdue for a correction if for no other reason other than they enjoy a good shakeout every so often so that the big players will enjoy getting back in cheap whilst us little fellas get stung.

[the air marshall] 17/9/2017 09:13

Thank you, mochyn. A bit early in the morning but brilliant nevertheless.

LOL LOL LOL