Woodford Patient Capital Share Discussion Threads

[minerve] 19/3/2018 16:22

Bill and Ben the Flowerpot Men

Two identical Flowerpot men who came out of their flowerpots to play with their sunflower mate ➡️ Weed ⬅️ in the garden when the gardener went for his dinner.

Elmfield? We have found him! 😎

[toffeeman] 19/3/2018 15:55

Nav 85
SP 73

discount 16%

When NAV = 75 and discount is 20% share price will be 60........................

[elmfield] 19/3/2018 13:39

Wrong fund for the wrong time,
That is the reason. Good post MF,

[mad foetus] 19/3/2018 13:32

From my memory I've never lied on this thread. I bought WPCT at launch and sold some at around £1 and the rest a few months ago. I posted when I sold so can't remember the exact price but think it was mid-low 90s. So I held for 2/3 years and didn't make a profit.As I have posted before, I wish WPCT well. I like the concept, I like the fee structure, I like the distribution through platforms that allowed PIs the same access as institutions.I just don't think the execution was great in the choice of initial stocks and now it seems Woodford is in a bit of a hole. I don't want anyone to lose money, but it does seem fair that those who are determined to not look at evidence should be the biggest losers. You may, however, find that you learn some valuable lessons in the process.

[jonwig] 19/3/2018 13:10

cynical bear - sorry - I just looked at the 2016 AR. Should have realised they were still throwing money at him!

[minerve] 19/3/2018 12:43

Hi Essential

I haven't been following BT.A recently, sorry. :(

Are you holding ATM?

I might revist them soon.

[cynicalbear2016] 19/3/2018 12:41

Jonwig - the facility is now a £150m one and debt was over £140m at end-Jan

[essentialinvestor] 19/3/2018 12:34

M, any view on BT.A if you are about?, thanks.

[jonwig] 19/3/2018 12:21

Discount seems to be widening quickly - now 16.5%. I do think selling at this point in the tax year is a factor: buying VCTs before the deadline and crystallising a cgt loss.

MRF - there's just the one creditor, Northern Trust Co. with a £75m facility, repayable on demand (£74,600,000 drawn at 31/12/16).

The 2017 results are imminent. Doubtless the company will reassure its investors that all is going according to plan.

[minerve] 19/3/2018 11:56

So, the bears here are getting proven right everyday! Everyday!

A bit of respect for me and others who told you so would be nice. ;)

My quick reversal was genius.

[my retirement fund] 19/3/2018 11:51

Unlikely to ever be a good entry point here imo as any recovery in daily share price can only be limited and then you have the NAV valuation problem. One of these days there will have to be some sort of rationalisation of all those pe holdings and that ain't going to be a pretty picture. Granted they may be able to delay such an event but does it really not only takes one of the bank creditors to force the issue ?

[orinocor] 19/3/2018 11:45

tanking.

what's a good entry price?

[18bt] 19/3/2018 08:08

I understand that the sale of the Gigaclear stake was highly profitable and also logical for WPCT as Gigaclear will want more cpital from investors to continue its rollout.

[ltcm1] 18/3/2018 09:51

Imagine Woodford with a small tache and a pair of metal rimmed retro pilot glasses. Then you get Walter White from Breaking Bad when he had his head shaved.

Does anyone think Woodford got his idea of leaving a big chunk for his family by making huge profits out of pharma from the now legendary series???

Is Neil Woodford an investment fund manager version of Walter White???

The question is this - as WPCT gets in ever more peril will Neil start getting more reckless like Walt did???

[pediment] 17/3/2018 10:00

Still short, dull trade but very little risk to the upside

[jonwig] 17/3/2018 08:50

FT:

Philip Hammond eyes new patient capital EIS funds

Wealthy investors could offset tax bills against investments in some of the UK’s riskiest early-stage companies in the future, following the launch of a consultation at the Spring Statement this week amid soaring popularity for tax-efficient investments.

In his speech, Philip Hammond, the chancellor, mooted a new kind of higher-risk Enterprise Investment Scheme (EIS) fund that could allow investors to write off chunks of a capital gains tax (CGT) bill or even offset old income tax liabilities, as long as they invested in the highest-risk start-ups, known as knowledge-intensive companies.



So you can invest in the kind of thing WPCT claims to be doing, and offset CGT/inc tax from elsewhere! Minimum investments in EIS are usually £10,000 but it could be made lower (VCTs are £3,000 to £5,000 minimum).

The article also says that investment in new VCTs is running at record levels. Has this been a cause of selling out of WPCT, and will the new EIS accelerate this?

[rackers1] 17/3/2018 08:30

Terry Smith is the man now.

[ltcm1] 16/3/2018 23:09

Woody's in the river - I hear ya JL9!!!

'The market is in a bubble' is a card that can only be played once.

Maybe it's Woody's head which is in the bubble yo.

Seems like The Air Marshall's been grounded after I clipped his wings last week!!!

[jl9] 16/3/2018 22:45

The guy's obviously lost it but has no choice but to remain in denial. That's got to be worrying.

[ltcm1] 16/3/2018 19:33

Does anyone here worry about the man himself and what state he might be in???

Three years ago when Woodford launched these funds the guy was buffed, taut and lean. Now I see the belly has expanded, the muscle has dropped off plus there is flab around the neck. It's like Neil has been spending too much time grazing at Byron's and other comfort food joints. I know that sounds a bit cruel but it is our job to scrutinize.

Could it be that the huge stress of running such a big operation is starting to take its toll???

It can't be healthy being the sole face of Woodford Investments when things have not gone well these last two years. Despite a few mocking posts on my part I do feel for Woodford as there is much to admire about what he set out to do.

However will his apparent isolation at the top and the lack of a team ethos at Woodford be something investors come to regret???