Woodford Patient Capital Share Discussion Threads

[careful] 24/10/2019 12:03

I have on occasions in the past held leveraged short positions using CFD's.
I can only imagine the pain that is being inflicted by a sudden 30% rise in share price as the one occurring here today.

eye watering pain.
The risks of getting too far away from fundamental value, combined with the belief that the share price can be talked and de ramped to total worthlessness is a dangerous delusion.

[clocktower] 24/10/2019 11:36

Do not underestimate Schroders - I see more value in this now, not less. This opens the door to options left right and centre, and is great news for the majority of companies the fund holds shares in.

[tim 3] 24/10/2019 11:26

Agree new manager or not its still the same problem stocks as before.

Should also be remembered 40p was the bottom of the range earlier this month so not exactly groundbreaking rise.

Think it could at least test the previous lows again in the not too distant future.

[kemche] 24/10/2019 11:25

The appointment of Brough should make Woody bawl like a baby. Shame.

[excav8] 24/10/2019 11:13

the Panorama program was saying in interview that loss making launch companies had had their values increased by say 100 x in one year by an independent assessor.
This person eventually turns out to be Woodford himself. Thus he is fraudulently marketing units at unrealistic heights to the detriment of all except himself.
The value of this fund is thus unknown, but may become part of a criminal investigation. How is it that HL did not see all this?

[porsche1945] 24/10/2019 11:09

Great deal for schroders, a pigs trough of fees, and as you say, as reality of what this is bites, its all woodys fault anyway, perfect deal.

[spectoacc] 24/10/2019 10:35

@chucko1 - for Schroders, I'd suggest it's millions in fees pa, at possible cost of reputational damage (but with Woody always to blame).

For WPCT shareholders, it removes the near-term risk of zero, but at cost of millions paid out to Schroders pa.

Doesn't change the fundamental case for WPCT, which is a portfolio of largely worthless IMO investments, whose value is soon to be exposed by WEIF's sales, many of whom need more funding that they can no longer get.

[bullet ant] 24/10/2019 10:30

Hello Mr Chucko

can blame Ant to jump on the relief rally. How long can you beat a dog before it starts barking.

Can't blame the Ant for the fast cash.


BA
Stealing is good.

[biggest bill] 24/10/2019 10:29

I'm surprised at the size of the rise in the share price today. After all, the portfolio hasn't changed overnight. As the saying goes, you can put lipstick on a pig but at the end of the day, it's still a pig.

[chinahere] 24/10/2019 10:29

Fees of 1.0% per annum on market capitalisation up to GBP600 million and 0.8% per annum thereafter.

So £3.5m per year plus upside (if possible!) - a nice deal.

[chucko1] 24/10/2019 10:15

So what am I missing here? Do Schroders believe there is value in such things as IH that others have missed? As I say, what is bought is bought, and that cannot change. I’m laughing at this nonsense.

But there is a positive - Schroders could elect to further invest in some of these companies (outside of the fund because the fund has no cash) and decrease the likelihood of insolvency, something which WIM were increasingly unable to do. Further, there must have been some discussions with NT regarding the loan. It might be the case that NT saw that it is not possible to sell the assets for a sufficient amount to avoid loss!! So the show had to continue in an orderly fashion, rather than the car crash about to unfold.

[scrapheap] 24/10/2019 10:12

Schroders will be taking ownership in the sense of the trust renaming too - that's putting some of their brand reputation on the line in so doing for what comes next.

All good today.

[the knight of no] 24/10/2019 09:28

I wonder when Susan Searle will be stepping down? Actually, the whole board for that matter?

[bullet ant] 24/10/2019 09:19

boooooooom

[bullet ant] 24/10/2019 09:16

Here comes the mega surge !!!!!!!!!!!!!!

[bullet ant] 24/10/2019 09:16

Gimme gimme gimme more.

[fpladdict] 24/10/2019 09:06

The NAV is still from the land of make believe, ppl are currently paying a huge premium for this tosh.

[ltinvestor] 24/10/2019 08:59

Woodford has refused on many occasions to sell the Autolus stake.Petre Kellner will buy it today if offered!!

[diku] 24/10/2019 08:54

Yes existing objective and policy suggests we keep on collecting our fees whilst it lasts...now if they said we need to change our policy it would make them look like mugs...

[tartshagger] 24/10/2019 08:36

I am unimpressed. Schroeder's will still be milking the cow to the detriment of PI's. Clearly the board have had to dangle huge fees to persuade anyone to take this on. Coupled with the statement that the portfolio will be maintained in line with the existing objective and policy means more of the same.Add in the forthcoming enormous churning fees, one can expect the performance of wpct to be mediocre at best.The mm has marked this up 12% as I write, anyone sensible will sell into this rally and use the proceeds to put a new toilet into their house.