Woodford Patient Capital Share Discussion Threads

[dr biotech] 23/9/2019 22:07

Neat enough summary

[chucko1] 23/9/2019 17:07

Such a shame that NW invested in IH for his fusion kicks, where the major asset appears to be a now discredited paper and a pile of silence. In the case of IH, silence is probably more valuable than the alternative.

Compare with an Oxford-based company called First Light. Just up the road from him, so how did he miss it? They publish an outline of their thinking - which is important as the people running this outfit have some meaningful pedigree. For instance, one of the advisors is the fellow who is the head of OU Engineering (now ranked first in the world) and others being lecturers and/or research students of his, including the now-CEO of First Light.

They have funding for the next five years and the plan would be not so much to “finish the job”, but to show how it might be done and hence sell some of the IP. A sensible route for non-governments to take rather than NW’s absurd notion wrapped up within IH. Says everything you need to know about him.

More engineering than physics? Makes sense to me.

[jonwig] 23/9/2019 16:28

This is the announcement;



Maybe I'm cynical (moi?) but I read fairly clear hints there that the suspension would not be lifted in December. I also read this:

Is Neil a forced seller?

No. While investor trading in the fund is suspended, Neil has the time and space to deliver on his strategy to place the unquoted parts of the portfolio with interested buyers.

Sure, lots will read that and sleep easy for another night.

[spectoacc] 23/9/2019 16:07

WEIF staggering, particularly considering c.£800m or more is now in Woody's "Liquid, FTSE100 stocks" which we now know to be BATS, IMB, IAG (oops), BT.

And more to come when the last of the "unsellables" go, and all of the unicorns/unlisteds inc Rutherford.

WIFF shows there's enough fools out there for even WEIF to still have say half a billion under management if/when it reopens. Enough fees from that to fund WIM I wonder?

Woody may yet survive this, but he'll have c.5% of the money to manage that he had at the peak.

[cc2014] 23/9/2019 16:00

Fund updates out.

WEIF gated but still lost 10.3% of it's value in one month. asset value now £
3.12b

WIFF down to £258m which suggests redemptions have slowed somewhat

[buywell3] 23/9/2019 15:28

This was looking good first thing

NAV dropping now towards 65p must be putting some folks off IMO

[psychochomper] 23/9/2019 12:34

Kpo, repetition which you seem to have ignored. More fool you.

[porsche1945] 23/9/2019 12:30

Good to see this pos heading south again, the direction it should be going. .18 by Jan 20 my bullet proof prediction.

[kpo115] 23/9/2019 12:22

What a badly written piece from the finance-feeds blokie. It's so bad it could have been written by jonwig or spectoacc. It's all over the place and says barely anything new.

Suits this thread though. Repetition is all!

[cc2014] 23/9/2019 12:07

I'm not sure the article is well written but I agree with it's sentiment and it's conclusions.

Woodford should not be allowed to manage funds because what he does and what he says he's going to do (both in the KID, in the press and in his on-line videos) do not match what he actually does.

You can't have a KID which says it's targets 5p dividends when clearly that is now impossible.

A mess but I don't suppose anything will be done with any haste.

How can you have a situation where a fund manager does a video saying he will repostition a fund (WEIF) to be mostly FTSE100 and a few FTSE 250 and then goes and buys RUTH. I appreciate he had no other option since the bank had pulled the plug on him using WPCT to do so, but this was reasonably possible to forsee.

[jonwig] 23/9/2019 11:31

Knowing - an instructive article!

Instructive because it reveals the sheer hypocrisy at HL who were warned many times that Woodford was a "wrong un" but chose to ignore these.

This refers to 2014:

Former colleagues, however, say Mr Dampier’s role as research director and his dogged support for Mr Woodford made dissent difficult. One says internal concerns were raised as far back as 2014, when Invesco was fined £18.6m after the City regulator revealed that the firm had breached investment limits and introduced leverage into funds without proper disclosure.

“Someone would ring up Woodford Investment Management, they’d say it was OK, and it felt like we’d just say ‘OK then’,” says one former Hargreaves employee.

“The whole ethos was around active management and around star individuals,” says one former staffer. “Mark always said Woodford had his ups and downs but with great managers you had to ride it out.”



True, it was Dampier who was in the headlights, but he did a runner with his millions.

[careful] 23/9/2019 07:48

Relieved our money is safely invested in WPCT and not Thomas Cook today.

[jonwig] 23/9/2019 07:12

Rutherford Health appoints another director:



So what? Well, that makes a board of nine. Woodford showers them with cash so they form a mates club.

[spectoacc] 22/9/2019 19:32

Interesting ST piece on Peter Hargreaves, slating Woodford for "lying" about what he was doing at WEIF. Only taken him 3 years to spot that.

[iq151] 22/9/2019 13:15

jonwigs by the dozen,
winnies by the score,
now this share is flying,
we don't hear them any more.....

[typo56] 20/9/2019 20:40

Yes, just left FTSE 250.

[spectoacc] 20/9/2019 18:48

I'd guess index shuffling - Woody/WEIF still to sell IMO.

[scrapheap] 20/9/2019 17:58

Some big late trades there.... wonder who.

[cc2014] 20/9/2019 16:36

Manipulated up for options expiry imho.

Let's see what happens on Monday

[dr biotech] 20/9/2019 15:10

4D pharma up about 15% today - seems to be on the back of the RNS announcing woodford has sold 5% (still about 20% to go).

[jonwig] 20/9/2019 14:43

"Let’s be ‘avin’ ya." Where Delia Smith lived:

[psychochomper] 20/9/2019 14:39

Just doubled my short position in WPCT. At 48.85p. Still not at full power, though. The tape stops me, for now.

How about you, Johnwig? Grown any balls yet? Harijan? Any other NW acolyte? Let’s be ‘avin’ ya.