Woodford Patient Capital Share Discussion Threads

[chucko1] 26/9/2018 13:41

Jonwig, imagine the mean of such posts being merely “stupid”. Imagine further that one standard deviation then gives a range of silly to imbecilic. The post was at the lower extreme.

Now, imagine 2 SDs - I hope that all such posters are now filtered (they just keep popping up!) - it is these cases where I struggle to find a description, but there have been a few.

[jonwig] 26/9/2018 12:35

chucko - thanks. (I can't read his post.) What's the saying? "Amateurs want to be right. professionals want to make money."

I don't think I've ever discussed my performance. For me the point of bbs is to exchange information for mutual benefit.

[chucko1] 26/9/2018 11:53

BA1939, actually Jonwig’s post was perfectly reasoned and was not praising himself (no mention of performance etc.).

Many on this board would do well to follow his approach to some degree. I could say more, but it would likely be wasted on you as you seem to follow the “everyone I disagree with must be related to Shareprophets in some way” mantra. Both boring and moronic, devoid of any evidence.

In fact, I find your stupidity offensive to anyone who has ever paid for education.

Jeez, how many more remain to be filtered!

[brianarthur1939] 26/9/2018 11:11

Desperate stuff from shareprophet jonwig, the troll. Praising himself all the time.LOL

[jonwig] 26/9/2018 11:07

ram - re Industrial Heat. I did a fair bit of searching on the web but can't find any reference to your claim that it has "invested in a doz companies". Help apprreciated!

In fact, finding out anything about the company is very difficult!

• It was associated with a convicted fraudster who developed the so-called ECAT technology but has since split acrimoniously.

• It has filed some patents. This is July 2018:



• It has no website and no open public presence, yet it can persuade would-be investors to invest on the basis of what I presume is closed-source information. (So do boiler rooms!)

• Scientific reasearch progresses via independent verification and peer review. Rossi was very secretive, and so are his successors, it appears.

• From a bit of reverse engineering, I have the impression that ECAT takes an exothermic reaction which is known to generate determinable heat energy. By using various means (eg. lasers) it can get the reaction to produce excess heat. It ought to be possible to replicate such experiments, but all attempts have failed, and the overwhelming consensus is that it's a mirage.

• The fact that IH is close to UNC is pretty typical - look at Cambridge UK, for one.

Your final question is interesting: do I only publish negative events? Actually, once I have decided to buy a share, I do concentrate my mind on what can go wrong, not how great things are going! Unlike many posters here, I don't regard my portfolio as a football team to support through thick and thin. It is there to make me money with zero emotional involvement. My holding period is occasionally days, more often years.

[researchanalystman] 26/9/2018 10:07

On the other hand WPCT has just had a v approx 10 percent rise after industrial heat revaluation...So as with all vc type funds you win some and lose some.(You may scoff at industrial heat and you may be right, butmaybe you are not aware that it appears to be around the NorthCarolina university area where there are quite a few new exciting start ups getting funding from various sources. )And Industrial heat actual invested in a doz companies.The fact that the revaluation occurred , and WPCT revaluingagent is the large global and extremely reputable companyWhich took over capita means that it wouldn't have revalued such a situation (10 percent of total assets )lightly.Itm So being initially sceptical is absolutely right but have youResearched its true situation (or do you just research / publish negative events. Do remember announcing such events that are published to the stock exchange carry very severe penalties if deliberately misleading..(as does NOT publishing significant events which materially impact on the share price)

[ltcm1] 25/9/2018 20:31

Prothena down 8% as I write. Tin hats needed for tomorrow.

[trollwatch] 25/9/2018 10:53

It looks like jonwig and winnie have finally lost it. In their obsessive but unproductive zeal to attack WPCT they are reduced to adducing two not very interesting shares like Lloyds and Card Factory, neither of which is in the WPCT portfolio as far as I can see

I know what you can do, you two desperate, slow-witted old codgers. Why don't you post links to, say, the Cumbria 500 or the oft-mentioned Salah 100 at the top of the page so we can see for ourselves which completely irrelevant share is up or down?

At the same time jonwig can take down his shamefully disreputable first post to make room.

[ltcm1] 25/9/2018 10:24

CARD is down sixpence.

[ltcm1] 25/9/2018 09:46

Autolus down 9% last night. Perhaps someone knows something???!!!

Pandora says buy Burberry and Petra Diamonds.

[jonwig] 25/9/2018 09:33

@ ltcm - it's a bit more complex than that:



Sold out in one fund, kept in the other. 'More compelling value' elsewhere - housebuilders.

But the gist of the article is to ask whether investors should follow suit. Sensibly it suggests not. (Who follows NW these days?) It seems the trade was done last month. There's no RNS from LLOY as I suppose he held below threshold.

[solonic] 25/9/2018 09:16

Don't hold your breath, LOL!

[ltcm1] 25/9/2018 09:13

The Fool are reporting Woodford has sold his entire Lloyds holding. It seems strange in the light of Woodford's prediction the UK economy will grow at 2% this year plus real wages will increase.

I know it is unrelated to WPCT but it just seems odd.

If Woodford is losing conviction in his own trades it is only natural investors are losing conviction in Woodford the fund manager.

Where ALM goes, so shall WPCT in a few years time!!!

[solonic] 24/9/2018 14:14

Clearly you do not understand simple investment criteria. That is why, since you joined this thread, despite thousands of posts from you and your unsavoury fellow idiots attacking wpct’s valuation, the share price has gone UP significantly.

You don’t have a clue. I find it very amusing that despite scurrying around as quickly as your furry little legs will allow you, you have failed miserably in investment terms, and, I dare say, with Pandora. She sounds like a stupid old cow to me, anyway. I wouldn’t give her a job or anything. Lol

[ltcm1] 24/9/2018 13:06

So a 40 mil valuation is de minimis and I should look at WPCT in the round?

De minimis and synoptically sounds like a sentance from Sir Humphry when he knows Jim Hacker is onto something.

I'm going to instruct Pandora to research more WPCT holdings with the aim of constructing a narrative of over confidence, dodgy science and unrealistic expectations and valuations.

Watch this space!

[solonic] 24/9/2018 12:08

Well, winnie, although you are covered in ordure from last week, that was quite funny. But, as ever, de minimis. It's not going to help you little bad wolves blow the WPCT house down, is it?

What you guys' greatest intellectual mistake is when you point out the threats, usually paltry, that face a few of the many WPCT investments, you ignore the probability that most competent managers can adapt to neutralise them anyway. None of you know anything about successful management.

Good guys will not just stand there accepting their doom, they will try to do something clever about it. I know that for a fact from deep experience. You must learn to look at things synoptically, or you'll never make a success (especially jonwig) of selling share tips.

[ltcm1] 24/9/2018 11:46

Pandora has been doing some research on Proton Partners for Tom and she highlights the tightening of budgets in the NHS, which she says has impacted on Spire. With no visibility on earnings, Pandora questions the model and valuation of Proton in the WPCT portfolio.

She also says when Jezza gets in McDonnell will nationalise the Proton Partners of this world and give all the shares over to the NHS and the workers.

Tom was so impressed he says he might give Pandora a rise.

[ltcm1] 22/9/2018 14:00

For a company to get the Shareprophets gold seal of approval it has to have what they call in the City 'a pregnant pipeline of profits'.

Lads is there any sign ALM is up the duff???

[kpo115] 22/9/2018 11:44

Ho Ho. Oil got it dead right. Some people can't help making fools of themselves. LOL

What about the ROCE and EPS jonwig? They're more relevant than that bilge you were talking. But not really relevant at all......

[jonwig] 22/9/2018 11:36

OK, Allied Minds. Here's an end-2017 balance sheet extract:

NTA ......... $11m
Cash .........$158m
Bank Debt ... $0

MCap £164m ($210m).

Where's the catch? It's this:

Subsidiary Preferred Shares ... $182m. (These rank senior to ALM common equity.)
Seven of the investee companies have SPSs, five of which are over $10m in size.
These are a prior charge on any uplift to the companies via IPO or trade sale.
They don't say whether there is recourse to ALM in the case of liquidation, but I doubt it since they are 'shares' not debt. At least zero value would be zero, not a negative number!

Sorry, it doesn't stack up. I've no bargepole long enough.