Woodford Patient Capital Share Discussion Threads

[cynicalbear2016] 28/2/2018 09:26

solonic - it set out to be something very different to the hat it is today which is why they had to change the policies.

Originally there was no intention to take on long term debt and there would be a significant chunk of mid to large cap quoted companies to balance the early stage stuff and no more than 60% unquoted.

What happened?

[solonic] 28/2/2018 09:21

But they haven't read the prospectus, have they? What is so pointless is criticising WPCT for not being a conventional trust, which it never set out to be. You guys, chinahere is a fine example, are missing the point.

If you don't like the stated purpose of the trust just don't invest, OK ? And don't bleat thereafter!

[chinahere] 28/2/2018 09:08

I don't know about others, but those five sentences alone don't give me much confidence.

I personally feel that there are very few Trolls on here and most people (though not all) have actually spent some time researching WPCT and its holdings.

[dr biotech] 28/2/2018 07:33

“Not quite sure how he can afford the cash call”. Doesn’t have to. Could just sell the rights, or tail swallow etc.

[topvest] 27/2/2018 21:01

Yes, a better day for Woodford today. PFG saved which is good news for the UK economy. Not quite sure how Woodford can afford the cash call at 315p though and doesn't make a lot of sense for an equity income fund as only a nominal dividend in the next 12 months. I would suggest he may need to sell them.

[ltcm1] 27/2/2018 15:09

Sorry if it was wrong it was something I read on Money Observer:

hxxp://www.moneyobserver.com/our-analysis/neil-woodford-out-to-prove-doubters-wrong

[wantage] 27/2/2018 15:07

"If you believe in a soft brexit......" More like war by proxy.

[cynicalbear2016] 27/2/2018 14:43

Interesting question but where do you get 25% from? Current A price is 117 and without income reinvested is 104.

[ltcm1] 27/2/2018 14:34

Which is people's favourite Woodford fund???

I am surprised there are so many redemptions on the Equity Income fund because it is 25% up at the end of the day. And it does have a sprinkling of biotechs and disruptors.

My favourite is the Income Focus fund. At the top he has the big income batters. In the middle order is a big chunk of property plays, plus a bunch of UK consumer and finance companies. There is 11% in housebuilders, 11% in commercial property, and also Purplebricks. If you believe in the soft Brexit then it does look a good balance to take advantage of that.

WPCT I am not so sure about! It looks like swinging for the fences to me. It is also far more company dependent than the other two. It could be brilliant but the volatility may become an issue.

[solonic] 27/2/2018 13:55

That’s one in the eye for the Woodford trolls. Lol.

[dr biotech] 27/2/2018 13:13

Pfg up 70% today in a bear squeeze.

[hpcg] 27/2/2018 10:54

US indices have uncorrected, and I can see in my own portfolio that higher risk has recovered somewhat so a well timed buy.

[minerve] 27/2/2018 10:22

Good for you andyj. ;)

[chinahere] 27/2/2018 10:22

You'll need a bit more time to find out I would say.

[andyj] 27/2/2018 10:13

Well, during the time this has become a Woodford debating club, my decision to buy in here Friday has led to a 5% profit and I am beginning to wonder if by chance I managed to enter in the bottom. And it is not very often I do that.

[jonwig] 27/2/2018 09:36

Neil Woodford’s flagship fund is close to hitting a 10 per cent regulatory ceiling on the proportion of his fund that can be invested in unquoted securities, the latest concern for the British investment manager who has endured more than £1.2bn of redemptions since May as a string of investments soured.

The £7.2bn Woodford Equity Income fund had unquoted securities accounting for 9.47 per cent of the portfolio in December. However, that figure rose to 9.69 per cent last month, close to the Financial Conduct Authority’s 10 per cent “hard limit”.

More:



The recovery in PFG will probably at least defer the worst outcome. The FT's got it in for him I think.

[ltcm1] 26/2/2018 17:21

AA down 12%, PFG down 10%, Woody's managed a one and two on the 350 losers board.

Is the shaven one going to buy some more AA tomorrow??? May as well grab another 5% at this amazing price!

[ltcm1] 26/2/2018 14:46

Buying housebuilders for income at this stage of the cycle is picking up nickels infront of a steamroller.

In one of his interviews he said 'if you look beyond the politics the UK economy is in decent shape.'

But the trouble is the politics drive confidence and investment. If we enter a period of political paralysis it is going to affect the market and the wider economy.

Woody is 10% in a sector that did move sharply in 2016 is my point. He does like the big bets doesn't he?

[cc2014] 26/2/2018 13:40

Interesting point Minerve. If I look at what he's now got in the income funds and the prices they are now I think the worst is over for him. I'm not sure he will outperform the market but the difference won't be that great.

Certainly there's nothing wrong with AZN, LLOY and I perceive PFG and CPI are probably now more fairly priced and are a smaller percentage anyway.

I think he's got a few dogs in there, AA. looks problematic to me and there are a few others but they are smaller percentages PURP I think the share price is crazy high but at least he's multi-bagged it regardless.

He's managed to avoid CLLN and IRV and gone for the housebuilders instead which I rate as a good trade.

Mostly I worry his team seem to be taken in by the management of these companies and the story and don't pay enough attention to the balance sheet.

[minerve] 26/2/2018 13:16

I have 3 housebuilders so I hope not. LOL

I actually think Woodford has some good companies in his portfolios and have some myself. The problem is, as someone has already pointed out, his fund's influences on the underlying stocks may cause problems as people exit the Woodford funds.

[jonwig] 26/2/2018 12:48

@ ltcm1 - actually, CRST would probably be my pick of the UK housebuilders if I were in the mood to buy one.

[ltcm1] 26/2/2018 12:37

Hehe Minerve I dare NW is chortling in his office as he reads this.

Does anyone thing a housing crash is imminent now Woody is loaded up with housebuilders and Purp???

Will the great contra indicator strike again???

[minerve] 26/2/2018 10:57

"PFG should merge with the AA. Then when customers breakdown they can stick them for a high interest loan right on the roadside."

Of course the AA are experts at debt! LOL