Woodford Patient Capital Share Discussion Threads

[porsche1945] 20/9/2019 14:36

Something very weird going on, pump and dump...bigger players sucking in the small private buyers to offload this sxxte onto as they usually do??

[spectoacc] 20/9/2019 12:54

Won't be long before it's trading on a premium again :)

When's Neil's next tax bill due? Oh dear - the same January when the OD gets reviewed.

[cc2014] 20/9/2019 12:36

Published NAV now at 67.84. It continues to fall yet the buyers keep coming for the stock.

[chucko1] 20/9/2019 11:59

Buywell, stick to philosophy.

[buywell3] 20/9/2019 10:58

That one will have to go into his sleeper pile

[spectoacc] 20/9/2019 07:32

One of Woody's now nearly irrelevant holdings, EVE, has issued a "can't make it up" RNS.

Merger talks with Simba terminated, but!

"....eve has focused its efforts in recent months on its new marketing strategy,
with the aim of boosting brand awareness and thus driving revenue growth.
The board is pleased to a report a 50 per cent. improvement in brand
awareness from 10 per cent. at the start of the year. On-going new product
extensions, such as the premium hybrid mattress launch, is going well in the
UK and initiatives such as the implementation of an ERP system has led to an
improved operational effectiveness for the Company."

Great! But keep reading. In the same paragraph:

"However overall trading
has been more challenging than previously anticipated owing to the uncertain
economic outlook and continuing low levels of consumer confidence. This
economic backdrop combined with heavy discounting and promotional activity
from our competitors.."

[buywell3] 20/9/2019 07:30

Good for him

[sweet karolina2] 20/9/2019 07:26

Woody now selling PURP in the market.

[spectoacc] 19/9/2019 12:31

Hey maybe Temasek will bail out IH too.

Surprised WEIF still holds its WPCT - manager of both slotted 60% of his WPCT holding months ago, at a massive discount ;)

[jonwig] 19/9/2019 12:22

I H Holdings - the accounts to 31/12/17 were published on 03/10/18, three days overdue.
They showed:

A loss of $15.7m.
Investments "worth" $31.6m.
Cash and debtors of $6.8m.

They said "The company is reliant on obtaining continuing funding to meet its liabilities as they fall due. There can be no assurance that ..." blah, blah.

The accounts to 31/12/18 are due by 31/09/19. The only temporary positive is that Woody is not the only significant shareholder, and others could pony up, maybe.

[cc2014] 19/9/2019 11:59

well from July to September (that's just a few months) the NAV of WPCT has fallen 30%.

One can imagine the IFA's suggesting to their clients there's a discount to NAV and that sort of fall can't continue. These IFA's and their clients won't have poured through the holdings like we have. From a one minute review it looks a decent enough investment.

However, take Industrial Heat. This is a bit rough and ready. In WPCT accounts it shows at 6.25% of the portfolio. Since the NAV from above was about 100p when the accoutns were published, it's worth 6.25p of the share price.

Sooner or later it will need new money which Woodford can't provide due to the bank gearing problem. Up until the day before it takes new money it is worth 6.25p and the day after it is worth well maybe something, maybe zero.

So, the NAV is going to keep getting destroyed.

Unless of course for balance Industrial Heat succeed in which case the share price of WPCT is going to £1000 per share.

[jonwig] 19/9/2019 11:23

I think that's right, but there's a train coming the other way: WEIF's 9% holding in WPCT (£39m worth).

[cc2014] 19/9/2019 10:14

imho the rise in share price seems to align with WEIF paying for RUTH rather than WPCT.

[mochyn] 19/9/2019 08:49

Hey good guys, you don't have to bother to make such fun of this pathetic prophetic little rabble, do you? They're doing it to themselves!

[porsche1945] 19/9/2019 00:48

Shares dont go down in a straight line, this will be back under .40 by xmas but i cant help wondering is there is a bit of pump and dump going on, if this truly tanks to pennies are they dreading what will happen when weif open again one day and trying to mitigate it.

[chucko1] 18/9/2019 21:04

Spectoacc, the RGL issue was oversubscribed and yet we are about 2% off that (dividend-adjusted). On top of that, there have been constructive updates. Likely NW has been chucking them out, so I’ve been buying! Similar story with NRR as we both know.

He had some decent stuff in IFF, but as I’ve been saying for ages on this board - it’s more a risk thing. Of course, not everyone listens, but no tears for them: I detest stupidity.

[spectoacc] 18/9/2019 19:34

Rats or children I guess, either apt! Not sure if Woody is the Pied Piper or the Mayor - I think he's the Mayor, & Mr Market is the Pied Piper.

Trying to think if Woody's had an AIM winner...

Noticed on CIR thread that he may be out of that now, and possibly RGL (in IFF).

[jonwig] 18/9/2019 19:30

Rats? Aren't the first to leave, proverbially? Ostriches.

[spectoacc] 18/9/2019 19:21

"Analysts suggest a good deal of the increase is due to other investors piling in in the belief that Mr Woodford’s decision to back the companies augurs well for their futures."

Brilliant. RM2, 4D - any idea of the rest of the "slew"? Circassa I bet. A single winner amongst any of them, or all 90-100% fallers?

No shortage of rats still on this BB either!

[jonwig] 18/9/2019 18:07

Yes, all those toe-curling pictures of Mr Smug. And Numis - now probably the most damning broker critic.

What it does show is that the well-informed and critical-minded PI can see through the hype. I did think of buying, but a broker advised me to hold off from the IPO, and the initial premium convinced me to leave alone.

[daffyjones] 18/9/2019 17:54

On the FT archive, a flashback to five years ago. How times change!


Neil Woodford has been hailed as the “Pied Piper” of fund management after the prices of a slew of minnow companies he named in a list of his holdings rocketed.

Analysis of share prices from the fund’s first day of trading on June 19 through the period in which the disclosure was made reveals spectacular results. Almost all of Mr Woodford’s Aim picks have risen sharply in value, even as the FTSE Aim All-Share index has fallen 1.5 per cent in the same period.

4D Pharma, a pharmaceutical venture, has risen 52.9 per cent, while pallet maker RM2 International has surged 49.8 per cent.

Some of this is likely to be due to buying from CF Woodford Equity Income pushing up the prices, but the stakes Mr Woodford has taken in most of the stocks represent much less than 1 per cent of the fund’s assets.

Analysts suggest a good deal of the increase is due to other investors piling in in the belief that Mr Woodford’s decision to back the companies augurs well for their futures.

One analyst at Numis Securities, a City broker, says: “People follow Neil Woodford – he is the rock star of the fund management world. If you look at the timeline of the spike in the shares of these Aim companies, it is obvious that he had an effect.”

Another analyst says there is probably some degree of investors buying stocks highlighted by Mr Woodford, describing the situation as reminiscent of the “Pied Piper of Hamelin”.

[rexrandi] 18/9/2019 17:12

Bow Wow.

mi master jonwig sez thats gotta be rong. jest he hisself has got £213 prophet in the bank, not countin deelin charges


Woof Woof

rex t'dog

[brummieloser] 18/9/2019 17:03

Yeay, when shall we(e) three meet again? Bubble bubble toil and trouble. I foresee everybody will lose all their money. And we shall be absolutely fine. We've got £231.20 in the bank: we kept the last 3 years' share dealing profit....