Woodford Patient Capital Share Discussion Threads

[p1nkfish] 23/8/2017 12:49

It's as if quite a few people bought WPCT with little understanding of what they decided to hold.

Note the large shareholders have not jumped ship, probably because they are more sophisticated with some clue as to what to expect.

The whingers show themselves up as being a little simple, naive, clueless. Best if they just sell and move on to Nirvana plc.

[p1nkfish] 23/8/2017 12:44

Sphere floated late 2011 approx so <6 yrs ago.

[pugugly] 23/8/2017 12:13

Allied Minds down again - he has pscked some right duffers - but so do many of us - but are holdings are (certainly in my case) small enough to ditch into the market - But Woodford is effectivly locked in with his usually very large positions

[neutronium] 23/8/2017 11:46

np jonwig. Woodford currently going through a very painful patch at the moment - fortunately my avg is 91.3p so just above water. Long term hold for me, going to be plenty of negative noise in press etc which will be amplified significantly due to Woodford's status in the industry.

[jonwig] 23/8/2017 10:56

neut - thanks, I missed that article. Of course, this might not be the only company where he'll need to double-down.

About 12 years ago there were a lot of people on ADVFN pushing SPHR as a multi-billion pound proposition. Sometimes it does work out!

[neutronium] 23/8/2017 10:12

The following article suggests that Sphere was one of WPCT first investments;

[jonwig] 23/8/2017 09:36

He is confident of the outlook for the UK economy, when many participants are expressing caution about the world (not just the UK) economy.

In that light, and recent performance of WPCT his 20% gearing looks inappropriate. In the last half-year this incurred interest cost of £1.1m against income of £0.2m. You can add that "patient capital" means nursing, and therefore periodic commitment of funds. (He's just injected money into a rescue of Sphere Medical, though I don't think that's a WPCT holding.)

Of course, he's not sole manager of this trust. There's a team of people who he's attracted to work for him. These people are, if I've understood the terms right, not being paid. Maybe they've other jobs as well, but human frailty suggests they won't put up with this forever.

[mazarin] 23/8/2017 08:54

Perhaps this Press comment may give a clue to fund's recent poor performance (Woodford 'backlash' effect?), for details see:

[p1nkfish] 23/8/2017 07:11

That's not too surprising given ongoing sector rotation - haven't you noticed the likes of IPO?

Some of the holdings are risky and early stage growth is out of favour currently. Cycles etc.

"This too will pass."

Time buys accordingly.

[riskvsreward] 22/8/2017 18:31

Look at the top losers page today Wooford scooped all top fives, sphr, pfg, halo, dddd, alm.

[p1nkfish] 22/8/2017 17:30

Anyone with experience of start-ups, EIS, VCT etc knows you need a basket full.
They should also know the failure rate is high - risk - hence you need a basket full.
They should also be aware the winners compensate massively.
WPCT has a basket full in growth areas.
It's volatility is also less than IPO that it holds - look at their chart for a lesson.

Not defending it, just explaining the nature of the beast.

If not interested, go elsewhere.

Rarely do you here of the steady progressor holdings nor those that will burst forth. The plodders. They are in the basket too.

[the oxford whale] 22/8/2017 15:22

Not that I know of, unless you have any examples? As far as I am aware he mainly invested in blue chips in the invesco days.

[papy02] 22/8/2017 13:45

TOW,
My understanding was start up, often biotech, companies has always been Woodford's successful "secret sauce" in his income funds, going back to his Invesco days. So not a new area to him. Do you disagree?

[mazarin] 22/8/2017 12:26

What a difference a week makes..? With another big drop today Neil's team will have to make some changes, it all looked so positive a few weeks ago, so what's changed?

[netnut] 22/8/2017 12:24

I do moderate this thread in a way that will give people some latitude in their opinions.

However, stay on topic.

[the oxford whale] 22/8/2017 12:20

I see the kool-aid drinkers are more interested in ad hominem attacks than rebuting any of the points made.It's not a difficult question - if woodford is showing a huge lack of judgement in an area he previously had a good track record in (large cap listed stocks), why will he be any better in an area he has absolutely no track record or experience in (start up biotech companies)?

[pugugly] 22/8/2017 12:05

TAM: You ahve been around long enough to know the meaning of "Tarred with the same brush"
regarded as having the same faults Collins English Dictionary. Copyright © HarperCollins Publishers (Copyright acknowledged)

IMO Could well apply here - but only time will tell.

[the air marshall] 22/8/2017 11:36

Hmm, I suppose that WPCT investors can take some comfort that the trolls do not excel either in logic or literacy.

For the record it's "there's none so blind as those who will not see": completely different meaning from the last poster's effort.

OH, by the way, WPCT does not own any Provident Financial. LOL

[pugugly] 22/8/2017 10:51

TOW: There are none so blind that they cannot see - You have done your best to bring enlightment - I would still want a very significant discount to claimed NAV before touching - seen too many "gold round the corner" start-ups crash and burn

[kpo115] 22/8/2017 10:39

Lol. You certainly got more than you bargained for here, mate. WPCT is a completely different fund with a totally separate mandate. Happy trolling!

[the oxford whale] 22/8/2017 10:35

Given you have resorted to critising my grammar (I'm typing on a phone so will not be 100% perfect) it is clear you have absolutely no comeback to the point I have made. Perhaps you could explain why an obvious lack of judgement in his other investments will have absolutely no bearing on this fund? Ta.

[solonic] 22/8/2017 10:18

BTW
"The Oxford Whale22 Aug '17 - 10:01 - 112 of 113 2 1
If you don't think his repeated bad performance across a number of shares (too many to list) in his other funds has no affect.."

I'm sure you mean 'effect' don't you? Completely different word, OK?

[dr biotech] 22/8/2017 10:17

Has to be said he has not had a great few months with his equity fund - has been lots of bad news with core holdings. I am still holding here though - its the unquoted stuff that is of interest. Hopefully we will see some IPOs over the next 12-18months and get a clearer idea of their worth.

[solonic] 22/8/2017 10:13

Troll away. But please next time be a little more accurate in your choice of thread.

In case you don't know how to find these things out, WPCT does NOT own Provident Financial.