Woodford Patient Capital Share Discussion Threads

[cynicalbear2016] 03/3/2018 15:02

IQ - I’m not trying to make money just trying to highlight that Woodford has ripped off WPCT shareholders. I hope that when it all collapses around him, he’ll be forced to pay recompense.

[cynicalbear2016] 03/3/2018 14:59

There is less crossover than there used to be as when EIF was offloading unquoted stocks on to WPCT it took all of some of its quoted stocks positions in return such as IP Group and EVe Sleep for example

[the air marshall] 03/3/2018 14:42

You've let him off far too easily there solonic. The shares he mentions in the Equity Income fund add up to 12.68% not what he says. LOL

[solonic] 03/3/2018 14:16

Sorry, try again. There are well over 70 shares held in WPCT which are not in the other funds. Not much commonality then, is there? And besides there is no commonality of purpose. Why don’t you trolls read the bloody prospectuses for once?

[ltcm1] 03/3/2018 13:45

Oxford Nanoprone, Theravance Biopharma, Immunocore A and AJ Bell are cross held too so my 25% figure was way off.

I don't know the actual figure but it is very high.

[ltcm1] 03/3/2018 13:27

Solonic there is a lot of crossover. Purp, Prothena, Benevolent AI are all cross held and represent 25% of the fund.

It is important people understand the implications of cross holdings and the impact on markets of the size of these holdings across the Woodford group. None more so than Purp.

Anybody holding WPCT needs to understand how all the Woodford funds work because they have a big potential impact on WPCT.

[solonic] 03/3/2018 13:03

It's in your interests as a crypto-troll to do so but it's not at all logical. There are very few commonalities of investments, purpose or execution between WPCT and the others.

[ltcm1] 03/3/2018 12:58

I am sorry if there are those that are confused, it was not my intention. If posters would prefer it was just WPCT then I will stick to that in future.

However personally I do think it's relevant in two ways. One is that the Income fund is what he is known for, so it is good for investors to understand the reasons for his decisions. Secondly there have been
links between the funds.

Another issue is Neil's psychological state and the possible fallout on WPCT of running such an enormous income fund.

While there are those who may have no interest, I believe it is important to look at the whole Woodford picture.

[the air marshall] 03/3/2018 12:09

"On the economic front, I notice that those who claim the intellectual high ground here are seemingly unwilling to debate Mr Woodford's equity income fund rationale."

That's because none of us has the slightest interest in that fund. We came here to debate WPCT. Despite jonwig, trumpvest (I loved that name) and you doing your level best to confuse people by conflating all Woodford's funds you've had little success.

[ltcm1] 03/3/2018 11:59

I'm not interested in the money side of things, only the economic arguments and the personal interest side of the story.

On the economic front, I notice that those who claim the intellectual high ground here are seemingly unwilling to debate Mr Woodford's equity income fund rationale.

Can anyone give an argument as to why UK fundamentals are improving???

I find it odd that a man who, like some character from The Hitchhikers Guide to the Galaxy has travelled the investment universe, should conclude a doorstop sub prime lender in Bradford who can't even organize their staff properly, is the best investment out there.

Woody has been to infinity and beyond but the answer is not 42 - it's Provident Financial!!!

Am I the only one who finds this scary???!!!

[jonwig] 02/3/2018 20:14

FT, up-to-date on performance, redemptions, reputation:



Kerrisdale (who are shorting Prothena):

"Neil, you’ll lose money on your bad investments regardless of whether we write on them. But hopefully our work helps the widows and orphans who invest in your Patient Capital Trust recognise just how poor your diligence is on the stocks you pick,” it said.

[ltcm1] 02/3/2018 19:27

I see WPCT touched an all time low in early trade. Just run some chart analysis and if it plumbs the 75.1 the next support level is 60.

Woody must be a fan of the winter Olympics because the chart is looking like a chuffing ski slope.

WPCT - a downhill black run!!!

[ltcm1] 02/3/2018 18:44

Fundamentals - Well if the market is returning to fundamentals that is good for the income funds but hardly augers well for WPCT.

I find it hard to share the NW vision of UK improving fundamentals now we are leaving the single market and customs union.

Despite one good month, it is not yet clear productivity has turned the corner.

Also the lower pound has not translated into higher exports.

Where is the economic argument to back up Woodford's assertion???

Yet again it is sweeping statements and a BREXITEER like hope over economic reality.

[jonwig] 02/3/2018 16:40

A "new look" monthly commentary on all funds (may need to register):



Gives detailed thoughts on his recent investments. Can't fault his transparency.

[jonwig] 02/3/2018 11:42

@ hpcg - Marwyn makes a speciality of this. It formed a shell company to acquire BCA Marketplace.

Call it an RTO, a mgt buy-in, an IPO for the target, etc. It's fair to say the target company is already identified, aware and willing.

[hpcg] 02/3/2018 11:09

This is what I don't understand about shell companies: "It intends to initially acquire a platform trading business with an enterprise value in the region of £250 million and £1.5 billion".

a) That looks tricky when there is just £22.7m raised on admission.
b) Which management is better, the one which builds a trading company to a value of £0.25-1.5 billion or one which buys that company.

[my retirement fund] 01/3/2018 23:49

Post 2019 Andyj. Lol wishful thinking or should we say wishfall? Get is WISHFALL ?...FALL no ? Anyway hows that PFG holding doing in that income fund plenty of income then ?Shame Woodford hasn't got any business skill since he owns so much of that one he could take full control of it and install a hand picked team to head it up and make eyewatering mula like they do in the good old USA.Some really ought to buy him a investors chronicle subscription imo.

[topvest] 01/3/2018 19:56

Yep, not very cautious. There is no income from most of his recent fund investments. The fund is just not doing what it says on the tin! He seems to be too close to Cenkos as well. Must be their best customer. But for how much longer?

Investing in shell companies is more speculation than value investing!

[chinahere] 01/3/2018 19:55

When one invests, Diligence beats Pomposity by a wide margin.

lol.

[jonwig] 01/3/2018 19:49

@ topvest - I make it £8.5m. Some of Marwyn's vehicles are quite successful, but it could be a year before any income is seen.

[elmfield] 01/3/2018 19:45

Oh dear,
Some just love to loose their hard earned cash.
Pitifully poor people in a vehicle not suited to
the market in this mood.
I suppose some will eventually learn, some never.

[topvest] 01/3/2018 19:32

Another £5m blown in a shell company. Which "income" fund I wonder?