Woodford Patient Capital Share Discussion Threads

[ltcm1] 06/9/2018 10:58

Just read WPCT has a few mill in an Oxford company called Reaction Engines:

"Our goal is to deliver a truly versatile propulsion system - a hybrid air-breathing rocket engine that can power an aircraft from a standing start to over five times the speed of sound for hypersonic flight in the atmosphere, and over 25 times the speed of sound for space access. With its wide range of operation and scalability, the Synergetic Air-Breathing Rocket Engine (SABRE) represents a defining moment in powered flight."


So Woodford's investing in an air breathing rocket that goes five times the speed of sound and being built in a shed in Oxford???!!!

Is this confirmation Neil Woodford has indeed 'LOST IT'???!!!

hxxps://www.reactionengines.co.uk/

[tim 3] 06/9/2018 09:05

Yes the fees are outrageous the business model is basically paying sales people large amounts to get
(usually high wealth) customers to invest.

When i first checked them out many years ago plenty of their funds were in the top performers some very near the top but now of course despite the underperformance customers are still paying the high fees.

[chucko1] 06/9/2018 08:50

The fees on St. James’s funds means you’re on the back foot to start with. At least they still have AZN in their portfolio!

[tim 3] 06/9/2018 08:15

Just checked and the SJP high income fund he manages which unfortunately some of my family still own now underperforms the sector, usually quite considerably over 1,3,5 and 10 year time periods.Thats quite an achievement!

Source trustnet.

[jonwig] 05/9/2018 20:29

Woodford bullish on his funds:



... and WPCT 1st quartile over three months.

[ltcm1] 05/9/2018 14:52

So you've heard 1t.

Please - say what you like about me but don't mention that name again.

[solonic] 05/9/2018 14:37

It's pretty pathetic, though, isn't it? Still haven't laid a hand on WPCT's prospects, alas for you.

I feel that the oft-mooted 150p-200p by Christmas 2019 is certainly now achievable.

[1tcm1] 05/9/2018 13:28

I like loughton your new pseudonym, winniechucko. His style is much closer to your base personality than the convoluted unintelligible "chucko1" which you have been struggling with for some time now.

Try to eliminate the spelling mistakes you all have in common if you are striving for some sort of effectiveness.

Still I imagine that your multi-identity spree is the only thing you've got to live for now that P.has disappeared.

[chucko1] 05/9/2018 11:49

An opinion on WPCT, Loughton, or you are unable to make your mind up? There are actually some adults on this board chewing this one over.

It’s nice that you think I am “important enough” to troll, by the way. You must be either desperate or bored.

[loughton] 05/9/2018 11:40

I just laugh at the Poor fantasist idiot Chucky Egg. 'He' is not the sharpest tool in the box.

Love this!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

OOOOOOOOOOOOOOOOOOOPSSSSSSSSSSSSSSSSSSSS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You've been found out Chucky Egg!!!!!!!!!!!!!!!!!!!!!

Bless you idiot bullsh1tting fraud boy. Bless you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

PMSL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

chucko1 - 18 May 2018 - 17:41:36 - 3021 of 3029 ::: WOODFORD PATIENT CAPITAL TRUST ::: - WPCT

And I know my 3rd declension feminine endings as Latin was one of the very few O levels I got. As in navis, naves.

Dont know much else. I, like you, received such a terrible education somewhere in Oxfordshire. (that's not on a hill!)

[chucko1] 05/9/2018 09:35

It looks as though he did add a minute amount to EIF in August.

Maybe he’ll be happy with the Thinfilm news just out.

[ltcm1] 05/9/2018 09:14

Today's question - should Neil buy more ALM at this bargain price and take his stake above 50%??? I would argue that if he still believes and isn't for selling then he ought to be buying more.

I mean he has followed ALM for 10 years now so should know as much as snyone about the business.

[chucko1] 04/9/2018 23:57

Loughton, contributors to this board are a tad more thoughtful than the lunatic micro cap AIM stuff to which you appear chained and bound. That said, perhaps you have something intelligent to say about WPCT. Do share your thoughts.

[chucko1] 04/9/2018 23:50

£1.50 will need a pretty fair wind. Six or seven Autoluses should do the trick.

[lewis121] 04/9/2018 21:14

Thanks Chucko1, so we've filled our boots on Autolus. Totally passed me by as I've been in Provence for August with no wifi. Have we sent Neil a crate of Aldi's finest for this, or should we wait till we reach £1.50?

[loughton] 04/9/2018 20:54

I just laugh at the Poor fantasist idiot Chucky Egg. 'He' is not the sharpest tool in the box.

Love this!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

OOOOOOOOOOOOOOOOOOOPSSSSSSSSSSSSSSSSSSSS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You've been found out Chucky Egg!!!!!!!!!!!!!!!!!!!!!

Bless you idiot bullsh1tting fraud boy. Bless you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

PMSL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

chucko1 - 18 May 2018 - 17:41:36 - 3021 of 3029 ::: WOODFORD PATIENT CAPITAL TRUST ::: - WPCT

And I know my 3rd declension feminine endings as Latin was one of the very few O levels I got. As in navis, naves.

Dont know much else. I, like you, received such a terrible education somewhere in Oxfordshire. (that's not on a hill!)

[chucko1] 04/9/2018 20:41

Lewis121, the 4.4% in Feb at least doubled on the IPO at $17 and then the stock itself rapidly rose to $29, so a 3.5x valuation increase overall. This is consistent with 4.4% rising to about 15% (now 8.3% in WPCT and some in EIF post transfer).

It is not easily possible to tell if some sales of Autolus into the market occurred with the information I currently have to hand, whatever Bloomberg seems to suggest.

[henchard] 04/9/2018 20:27

Anyone remember when Woodford Asset Management first launched and the monthly fund updates and commentaries were published about a week after the month end? Why does it now take five weeks?

[lewis121] 04/9/2018 19:58

@ Chucko1, thanks a lot for getting back to me.
Not having access to Bloomberg, I was puzzled to hear he had sold some Autolus, given the WPCT exposure to it had gone up from 4.4% in Feb to 8.4% in July, as you state; from 8th place to 2nd. So presumably he/ we made a mint on the Autolus IPO and especially the subsequent price increase?

[jonwig] 04/9/2018 19:41

The August round-up:

[topvest] 04/9/2018 19:25

Its certainly very interesting that Woodford is upping his stakes in UK house builders, whilst at the same time expressing reservations on the global economy and where it is heading. He is either a genius or buying value traps. It's generally thought to be the case that buying late stage cyclicals when they look really cheap is a good way of losing substantial amounts of money. Cyclicals are generally best bought when they look really expensive at the start of a recovery (i.e. 9 years ago). Clearly not WPCT but Equity Income Fund related. Any sensible thoughts?

[chucko1] 04/9/2018 18:43

All I know for sure is that they had a holding of circa 14% of the fund’s assets within WPCT as at end of June. The corresponding end of July figure is 8.4%. I see a purchase of 1.35mm shares into the EIF on a 13G filing as exhibited on Bloomberg. I see a 1.76mm sale from WPCT via a 13F filing. That said, the filing dates don’t match, but I don’t read too much into that sort of thing as Bloomberg has been a bit ropey in terms of data allocating share holdings to specific funds.

But the general direction of travel is consistent - Autolus “sold” from WPCT into EIF.

[lewis121] 04/9/2018 18:05

Chucko1, when did WPCT sell down Autolus, and how much please?

[chucko1] 04/9/2018 15:59

Actually, I still do have some remaining faith in NW. But anyone can get overconfident and/or improperly assess risk.

In fact, here’s a small list: Lehman, Bear, ML, Bankers Trust (pioneers of risk management), LTCM, Drexel, Myron Scholes ... oh, I nearly forgot - Hoover. I used this example list as all participants have one thing in common - very bright people indeed (not so sure about the marketing department at Hoover, mind).

I do not include Deutsche Bank in that list as their fate was/is more of an integrity issue. But that’s just another risk, I suppose. Like the risk Arthur Anderson assumed - they were at that time the best of breed.

Back to NW. Really good businesses and people with great ideas get punished by an inaccurate assessment of required capital and liquidity. And when they realise it, sometimes they bend the rules a little to buy time to acquire the additional financing. There can be some luck (good or bad) in both the getting into trouble and getting out of trouble but I do think it’s reasonable to be concerned with where NW is currently positioned.