Woodford Patient Capital Share Discussion Threads

[topvest] 24/6/2018 07:51

21% gearing (if correct as it’s calculated and not disclosed) is over the limit...again. Let’s have an approved investment policy and ignore it. Most investment managers get dismissed for this sort of behaviour, but this is Woody and he can do no wrong. If he wasn’t being sneaky he would disclose the debt level in his monthly updates. He’s on a cliff edge every month and has to devise more elaborate ways of not falling over. It’s all well and good (just about) in a bull market, but come the bear he will just fall over the edge.

[my retirement fund] 23/6/2018 23:50

It looks like he's really dug deep and got his mates to buy in hard to cause this most recent bounce.I dare say he was on the blower Friday calling in a few favours by all accounts.

[ltcm1] 23/6/2018 17:22

Interesting that he said his career has been built on arrogance and humility.

But then pride comes before a fall. And this Autolus is nothing but Prothena MKII.

[topvest] 23/6/2018 17:14

A fair point Neil Woodford about taking a long term view, versus short term speculation or the long term speculation that you undertake. He does speak some sense at times.

It’s always ever been this way though. Investors are not always patient.

Think he is getting muddled in some way though - you can afford to be patient in Quality companies. You can’t be patient with negative cash flow companies whilst employing leverage, particularly when the tide goes out.

[researchanalystman] 23/6/2018 11:40

Biotech IPOs continue to come thick and fast this week, with U.K. T-cell therapy specialist Autolus the latest to list with an impressive $150 million raise.Like a lot of the latest IPOs, London-based Autolus-which will trade under the AUTL ticker symbol-has smashed its earlier $100 million target with its $17-per-share listing and adds to around $170 million in venture funding raised since it was set up in 2014.The IPO gives it the financial muscle to push forward with its new generation CAR-T candidates on a broad front, with several therapies in or starting clinical trials within the next few months. The company says its approach to CAR-T can improve its performance by helping T cells stay functional in the body for longer, reduce the toxicity of treatment, and extend the use of the technique to new forms of cancer.YOUR DAILY NEWSLETTER - FREEEnjoying this story? Subscribe to FierceBiotech!Biopharma is a fast-growing world where big ideas come along every day. Our subscribers rely on FierceBiotech as their must-read source for the latest news, analysis and data in the world of biotech and pharma R&D. To read on the go, sign up today to get biotech news and updates delivered right to your inbox!SUBSCRIBE NOWAutolus' lead project is a CAR-T in a phase 1 trial in pediatric relapsed or refractory acute lymphocytic leukemia (ALL) targeting CD19-the same target as already-approved CAR-Ts from Novartis and Gilead/Kite-and it's also planning early-stage trials for therapies targeting CD19/CD22 and BCMA in lymphomas and multiple myeloma, respectively. Interestingly, CD22 is being explored as a possible rescue therapy for patients who don't respond to CD19-directed CAR-Ts.In early 2019, the biotech intends to have proof-of-concept data for no fewer than four of its CAR-Ts in blood cancers, and it's also making headway in solid tumors-still very much an untapped area for CAR-Ts. Its GD2-targeting therapy is already in a phase 1 trial being run by medical charity Cancer Research UK in neuroblastoma patients, and Autolus is developing an improved version that should start phase 1/2 testing in 2020.At the end of last year, Autolus was sitting on cash of around $130 million, and the company says the new cash injection will allow it to complete its proof-of-concept studies for all five clinical-stage candidates and take three of them into later-stage testing. Importantly, it will also give it resources to start developing manufacturing capacity to support larger-scale trials and future commercial launches-always a big consideration for companies developing cell-based therapies.The estimated breakdown of costs runs as follows: around $85 million for its proof-of-concept studies, $50 million for manufacturing and another $31 million for nonclinical R&D projects, according to the latest version of its IPO prospectus.

[minerve] 23/6/2018 10:29

Noticed a few competitors becoming more visible wrt purple sales contracts.

[ltcm1] 23/6/2018 10:26

It's a happy coincidence Woodford has the perfect antidote to all this horrid short term speculation in the form of WPCT!!! The guy is brilliant at getting a free advert in a mass circulation publication, just at a rare time the fund is going up too!

Is the cult of Woodford making a comeback??? I see the crop head has been allowed to soften.

For all his fine words, long termism doesn't seem to be doing RM2 much good!!!

PS - Purplebricks is coming down faster than an unsupported chimney breast as rumours grow of big problems in Australia. Looks like Neil is holding 26.5% of not a lot on this one.

[minerve] 23/6/2018 09:56

Now comments like that from Woodford start to rebuild my respect for the man - sort of.

I don't understand how he can reconcile supporting the bad behaviour of certain investors/executives at Stobart and then lambast the short-termism community. Bad capitalism is bad capitalism Mr Woodford - it shouldn't be a case of which side of the fence you are on.

[daffyjones] 23/6/2018 08:48

Do you hear that, rampers? Woody doesn't like speculation and short-termism. So all these claims of buying a patient capital trust on a Tuesday and selling up on a Friday make him sad. Buy and hold, my friends. Buy and hold.

[daffyjones] 23/6/2018 08:46

Woody in the Daily Fail today bleating about nasty speculators



Neil Woodford, founder and head of investment at Woodford Investment Management, has suffered a rocky 18 months as the value of his flagship fund has plummeted.

But in an interview with leading City research firm Square Mile, he told how speculators were causing wild swings in stock prices that were destroying faith in the stock market.


And he blamed a cultural obsession with short-termism that has forced investors to expect big returns overnight.

Woodford said: 'The short-term obsessions of our culture, our corporate sector and indeed the stock market cripple our economy in many ways. They are almost an illness that we have to be conscious of and fight."

Woodford, 58, said that many of his rivals needed reminding that the purpose of the stock market is to take risks on behalf of the economy and to connect savings with businesses that need cash.

He has faced intense criticism after starting his own firm in 2014. His flagship income fund has lagged, while his pioneering Patient Capital Trust fund, which is designed to pump cash into bio-tech and innovative businesses, has suffered a series of setbacks.

[ltcm1] 22/6/2018 21:21

I am pleased WPCT has gone up so much today. Well done Careful, at least you were honestly bullish recently and are not part of the ludicrous 'I bought on Tuesday' brigade.

I really have no idea if this fund is cheap or dear at this price, I'll leave it to you 'experts' to make those calls.

It would be great if WPCT did come good, Woodford is nothing if not interesting. Maybe the shaven headed starvestor can cook up a fortune with his biotech buys.

[solonic] 22/6/2018 17:52

But you're not any good at this stuff. So nobody is surprised that you appear to have been proven wrong yet again! Your mate winnie has gone very quiet. Far down from his usual bilious 10 a day.

Perhaps you'll all have the grace to disappear for a year or two.

Some hopes.....

[topvest] 22/6/2018 17:27

A good week for WPCT. Enjoy it while you can. Still down 20% with no income. Target price below 50p sometime soon. I wouldn’t be surprised to see a steep correction when we are least expecting it. Anyone remember some of the August crashes of the last decade? Maybe a 2018 repeat. Of course it’s impossible to forecast the market, but we must be close to some volatility. I can’t find ANYTHING worth buying.

[mochyn] 22/6/2018 17:07

Interesting thought Minerve, but for an old dog you certainly bark up the wrong trees a lot. If you can find a single mention of Woodford by me on this thread (not including daft quotes from you and other miniwinnies obviously) I shall personally pay winnie to gobble your little willie. It's clear to all on this thread that this is your ultimate goal. You have been sniffing this opportunity out for years now.

I'll even pay for you to be hosed down afterwards if you get stuck.

[mochyn] 22/6/2018 16:14

topvest: you must be sick as a dog. You said wpct will be finished during 2018.


Do you want to go back and alter it now?

[mochyn] 22/6/2018 16:11

"Minerve22 Jun '18 - 10:58 - 3514 of 3536

5% up and they are all tossing their meat. Forgetting it still isn't 80p. LOL"





It is now! LOL! Has it stopped you from tossing your meat?

[minerve] 22/6/2018 15:13

Not touching it. I have better investments and I don't need to make stellar returns (which won't happen IMO) to run my already very comfortable lifesyle. I like watching the chimps though and feeding them a few nuts in my down-time. LOL

[topvest] 22/6/2018 15:07

Get out while you can, would be my thought. WPCT is still a pile of toxic waste with negative cash flows and portfolio companies which live on a drip feed connected with the nearest ATM. At the end of the day they need multi-bag winners over and over to anywhere near get back to £1, given some of the crazy valuation uplifts already recognised in the quoted NAV.

[solonic] 22/6/2018 15:06

I get the feeling that the miniwinnies were short here and they are in the process of being eaten alive. Time will tell, of course.

I bought last Tuesday too. Seemed plain as a pikestaff. Obviously missed by the self-styled experts here. I'm glad the good guys kept quiet. LOL

[minerve] 22/6/2018 15:04

trollwatch

I haven't touched any of my posts and there is ONLY one Minerve.

Ever heard of a Section 104 holding? I guess not.