Woodford Patient Capital Share Discussion Threads

[18bells] 07/8/2019 14:06

What other stocks does he hold that we should stat clear of?

[simon gordon] 07/8/2019 14:05

Is Woody on acid and having a bad trip? He sold the likes of RAVP/C and held onto BUR which has no asset backing and has had a smell around it for a while. He holds on to it and now it's down 70% in a matter of days. He's like a drunk driver who keeps getting in the car and mowing people down. He should just get out of the car and hand the keys back, he's wrecking peoples retirements.

[ak47high] 07/8/2019 13:41

Billionaire investor George Soros has scooped up Neil Woodford's stake in plastic window manufacturer Eurocell.

Eurocell revealed that Soros Fund Management has bagged a near 13 per cent holding.

Troubled fund manager Woodford, who is dumping shares to raise cash for investors who want their money back from his suspended flagship fund, was forced to sell the stake for below the market rate.

Soros bought the stock for around 202p, paying £26million when the deal happened last Thursday.

This was below the 211p which shares had been trading at elsewhere, meaning Woodford pocketed £1.5million less than if he had sold them on the open market.

The money manager offloaded his entire 16.23 per cent stake in Eurocell.

The remainder of this stake went to Spanish investment manager Alantra and other smaller investors.

[porsche1945] 07/8/2019 12:37

@tartshagga..." smart money piling in "?? I dont think " smart money " is interested in shxte like wpct at any price.

[porsche1945] 07/8/2019 12:35

itcm...very good haha, yes, another Prothena style its all in fact OK vid.

[ltcm1] 07/8/2019 12:14

In a couple of hours there will be white smoke from Woodford Towers indicating a YouTube video has been released.

Camera pans to Woodford curating a Greek salad upon his granite tops.

'Today's short selling attack on Burford has been a disappointment for us all, however I can assure you it is not the case, it is absolutely NOT the case, that Burford is struggling or in any kind of trouble.

It is also the case that Woodford sticks religiously to value based investing and remains fully focused on company values during times of market turbulance.'

(Turns and fixes eyes at camera)

'Infact it is only by judging value against the market that we can take advantage of opportunity.'

I am therefore happy to tell you Woodford has today been investing at these facourable prices.'

[tartshagger] 07/8/2019 11:54

This IT is becoming more and more distressed. Assuming that all the bad news (including Burford) is now baked into the price a 50% discount is very interesting. Unfortunately there is no sign yet of the sharp increase in buy side volume, which would indicate shorts being covered and smart money piling in

Do the cognoscenti on this board have a view on where this is might stop selling off? I was looking at 28p

[montyhedge] 07/8/2019 11:51

Free lunch for shorting hedgies anything Woodford is holding.

[porsche1945] 07/8/2019 11:37

The Burford Capital meltdown the final nail, this is all going to nothing, could really accelerate now, Woody zero credibility left, losses for Woodford or more to the point his poor bloody investors, of biblical proportions.

[masurenguy] 07/8/2019 11:26

buywell3 - 9449: Regardless of all the spiel the NAV remains stubbornly over 80p.
Hence my last 45p call. IMO this is very unlikely to drop to 40p whilst the NAV is over 80p. A 50% discount to NAV is just too attractive to some folks

Hmmmm......that's what happens when you stick your neck above the parapet !

[1oughton] 07/8/2019 11:15

NW still got BUR to offload ? presume he has

[ltcm1] 07/8/2019 11:14

Interesting SK.

I understand he can get replaced by the board of WPCT, however I'm not clear what that would achieve or even if it is in best interests of the holders.

But at Weif is he even removable? Can Link remove him? Or if he is following the instructions to pivot to liquid holdings (a farce surely) is his position safe?

Or do men in grey suits operate and might peer pressure from HL etc weigh heavily? However Woodford is a contrarian isn't he so can see him staying put!

[sweet karolina2] 07/8/2019 10:52

itcm1

I think the die is largely cast whether Woodford is allowed to continue with his 3 remaining funds or is booted out and replaced. The poison has been in the veins for too long ie the duff stock picks. Having BUR blow up could be the final nail in the coffin of WEIF and WIFF financially.

Carson bigs up the Woodford connection nicely as he knows that will get the juices flowing even more than just a dull accounting scandal using terms like IRR and ROIC which most ordinary people don't understand:



FWIW I am not convinced Woodford had anything directly to do with the specific accounting scam in question.

[diku] 07/8/2019 10:52

Woody is saying cherrio to all...he got his bodyguard next to him...

[rcturner2] 07/8/2019 10:51

BUR is surely going to be suspended at some point today?

[kemche] 07/8/2019 10:47

MWC - damning stuff!
Barnett learnt from the master.

[ltcm1] 07/8/2019 10:31

SK - but will it make any difference???

It seems there is no legal recourse to stop Woodford doing as he pleases with Weif it would seem.

I am not being funny - I think he could even wipe out the whole Weif fund over the course of the next year. Or like three quarters.

I don't see him stopping, I imagine he is on a mission to make up his huge shortfall, which will only lead to risky behaviour and more losses.

[montyhedge] 07/8/2019 10:21

Hedgies see shorting any Woodford holding has a free lunch.

[sweet karolina2] 07/8/2019 10:14

Damage to WPCT will be reputational only due to Woodford link and BUR is not in WPCT (my mistake thinking it was as so many stocks are common across all 3). However with another high profile failure, which has tenuous links to Woodford (INVESCO more directly involved in one scam) beyond just the holdings in INVESCO and WIM the press are going to have yet another field day.