Woodford Patient Capital Share Discussion Threads

[minerve] 05/6/2018 10:40

I agree Itcm1.

Also, I thought this was a long-term investment? He buys Purple Bricks and then is selling them so soon?

He obviously has liquidity issues which implies to me he was too trigger happy initially and has too many stocks for his pool of capital to support.

[epo001] 05/6/2018 10:27

It would be nice if advfn didn't include filtered posts as new posts. Out of 8 'new' posts, 6 are filtered and 2 are commenting on filtered posts.

The S/N ratio of this board is now almost 0 and it seems to be an echo chamber for a small number of people with mental health issues.

[rackers1] 05/6/2018 10:22

whats his main equity fund now ? £1.23 ? so 23 pct in what ..... 4 or 5 years ?


my mum could do better than that closing her eyes and pointing a stick of rhubarb at the FT

[ltcm1] 05/6/2018 10:13

Worrying Minerve when you consider how Woodford is effectively providing us with his own valuations on so much of the WPCT portfolio. I see this as a major trust issue.

So Purplebricks has been sold down to fund the RM2 investment. A wise move???

[chucko1] 05/6/2018 10:07

ltcm1,it’s now 2.90% in th income fund -do you recall what is was last month?

[minerve] 05/6/2018 09:31

Woodford supporting destruction of good corporate governance at Stobart.

[ltcm1] 05/6/2018 08:47

I see Woodford's reduced his Purplebricks holding.

[daffyjones] 04/6/2018 23:20

May monthly update out now on the Woodford blog

[toffeeman] 04/6/2018 11:39

His middle name isn't Gordon

[jl9] 04/6/2018 11:24

Woody is a moron.

[chucko1] 04/6/2018 09:51

ltcm1, all fair comment (apart from the rather self-effacing one in para 1)(!!) (unless I’m an idiot too, which one can never rule out).

[ltcm1] 04/6/2018 09:08

chucko1 - re the Genesis comment, the explanation is what many have concluded previously, that I am not very smart atall.

I think you provide an excellent summary of the fund manager conumdrum above, so I will withdraw the 'snake oil' remark re Mr Woodford.

My frustration is borne of the fact that Woodford has never come out and explained Northwest Biotheraputics or RM2. Prothena is a different case but it could be argued he defended the company too vigourously following the research paper by the fund shorting it.

If he was more honest about the setbacks to date and more open about the risk being high on WPCT I would be a lot more inclined to invest. But as things stand I wonder if he has done sufficient due dilligence on the remaining investments.

[daffyjones] 04/6/2018 07:41

Woody mentioned in this Torygraph article about failing fund managers:

[chucko1] 03/6/2018 20:42

Thanks, ltcm1. Too sunny today to get to page 8. Only got to half way through the News section.

You still owe me a response on your misdirected Genesis comment!

I think that “snake oil” is a little unfair, as that implies a mild intent to deceive. I think it’s more an issue of his own miscalculation of the risk of this venture, that risk being somewhat comprised of intellectual and reputational risk. But this has also happened to a number of other notables such as Anthony Bolton, Crispin Odey (recovering, to a degree) and Pershing Square (not forgetting the Paulson fund post sun-prime run-off). What they all have in common is clear, extended and publicised success followed by oversized risks. They thought either they could or would not be wrong, having been successful for so long and could manage their positions successfully in any event. But markets exist to frustrate in all sorts of mysterious ways.

On reflection, Anthony Bolton should not be included with those who had oversized risks, but the other descriptions seem valid.

[ltcm1] 03/6/2018 19:38

Well it's all on page eight of today's Sunday Times for anyone that is interested.

I know you like to rile and goad Minerve but we are talking reputational damage to Mr Woodford here. Perhaps one day investors will wake up to the fact Woodford shanked off a serious amount of money on the likes of Northwest Biotheraputics, RM2 and one or two other dubious Biotechs.

This plus the 'crowded consensus' argument on the income funds is leading me to conclude Woodford is getting dangerously close to snake oil territory. It will be facinating to see how the whole WIM story plays out.

chuckol I have cross checked Minerve's posts and IMO he/she is a credible and knowledgeable poster. Also the 'Woodford haters' is nothing but a fiction designed to deflect debate on this forum.

[chucko1] 03/6/2018 15:19

To be fair, Minerve, although I am taking a week or two off work, I constantly read the financial press and all sorts of other stuff on the likes of Bloomberg. I cannot say that I have come across a Mr. Tinkler. Perhaps I have been too distracted by matters relating to Italian bonds (currently my main focus).

Apologies for being a tad slow!

[solonic] 03/6/2018 14:46

Minerva, you have already mentioned Mr Tinkler many, many times here on the WPCT thread. Nobody knows who Mr Tinkler is. You certainly haven’t succeeded in establishing any credible connection between him and WPCT.

We know you really hate Woodford. But to persevere with your feeble argument is bizarre.

[minerve] 03/6/2018 14:24

chuckol

"He has been known to exaggerate, you know, and I know."

Like when?

"I repeat, nobody who made such an elementary mistake, confusing WPCT with a Mr Tinkler, whoever he is, can be any great shakes as an investor."

No confusion, just your lack of being able to connect the dots.

[chuckol] 03/6/2018 13:55

ltcm1, with the greatest respect, how do you know anything about Minerve? Is it because he told you himself in the share price loo? He has been known to exaggerate, you know, and I know.

I repeat, nobody who made such an elementary mistake, confusing WPCT with a Mr Tinkler, whoever he is, can be any great shakes as an investor.

Much as I'd like to believe that there are Woodford folk on this thread I think it's highly unlikely. It isn't as if we've managed to land any effective blows on WPCT although it is, of course, our ultimate intention. LOL

In any case, who exactly are they? It isn't as if there is anybody much apart from us commenting on here if we were honest!

You shouldn't be so paranoid. Besides you should have plenty more opportunities to find something else to say that might be damaging. (Tip: don't let topvest do any more posting: he is very counterproductive, I'm afraid. Never gets any prediction right! And why does he feel it necessary to make predictions anyway. It's only small-time investors who do that.)

[chucko1] 03/6/2018 13:51

Minerve, I could barely agree more. It is indeed a risk that the mindset is not what it was a year or so ago.

Ltcm1, errr, that Genesis comment?? You do realise that I and ChuckoI are barely the same!!?? You’re smarter than that.

[minerve] 03/6/2018 13:10

chuckol

You invest in WPCT. It is in your interests to understand the behaviour and mindset of the man you have trusted with your money. Any sensible and intelligent person would be interested to know that.

[minerve] 03/6/2018 13:02

Mr Tinkler, for all his alleged entrepreneurialism, doesn't seem to be able to grasp the concept of good corporate governance. Neither does it seem that Mr Woodford does! Bad. Not good!

Mr Tinkler, here is a lesson for you! It seems that you need one! The Chairman is not supposed to be a close friend of a director. He is there to represent shareholders - all shareholders! Not just our glory boy Woodford and you.

[chuckol] 03/6/2018 12:59

With the greatest respect, Minerve, (which you don't deserve) you can't be classed as much of an investor if you can't tell the difference between stobart and WPCT.

You should keep your feeble animadversions on stobart to the stobart thread, if there is one. If there isn't one, start one yourself. jonwig will teach you how. LOL LOL