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The increased valuation of IH and resulting NAV increase to 99p of wpct in the 21 Sept 2018 RNS following the upward revaluation of its holding in IH by 357% is the torpedo which will sink Wpct.
Wpct was subsequently the most widely bought trust in July 2019 on the Interactive Investor platform.
Anyone buying wpct after the rns of 21.9.18 should claim compensation as the NAV is based partly on the spurious valuation of IH.
Mentioned I have been looking at this since IPO waiting for a buying opterunity. And right now it must be time to stop following this unless I short. I don't do short so I must walk away. Buying some more Lindsell Train on Tuesday, but if anyone is looking for a genuine reversal of a bomed out stock then possibly... possibly... then *risk* some money on The AA PLC to turn around and could provide 100 percent upside within 2 years... or not, nobody can predict with certainty but WPCT has even more pain to come.
The companys are valued "independently" fwiw
Ind Heat has no website and apparently no factory/research facility that I could find. Its address is an office at 111 East Hargett Street Suite 300 Raleigh, NC 27601 - also the address of Cherokee, the co of Tom Darden, director of IH.
According to E-cat world 21.9.18:
"Industrial Heat has been providing funding to other researchers working in the LENR field. As far as I know there is no published document available listing exactly who Industrial Heat is supporting in the LENR field. "
Does anyone know if IH has factory/research premises or who its research partners are?
How does Woodford justify the increased valuation of IH in Sept 2018?
How did a so called professional end up taking huge positions in illiquid stocks which cannot be sold without trashing the SP? It's difficult enough for the average PI to sell a couple of £'000 holding in a small cap.
Also, it's a recipe for disaster to borrow short term and lend long term in banking. Woody is in a similar situation with short term borrowings and stocks that cannot be quickly sold without value destruction.
Oh, he apparently paid 140-160 for ESL too.
Hmm
Woodford held 22.89% of ESL as of 2nd August, mytton.
Whatever anyone thinks, he's having an awful run, by anybody's standards.
It's just disaster after disaster.
The problem is that the NAV is not a true reflection and is being adjusted by Link reacting after events. A current pro active valuation would probably be too much of a shock and we may well see a gradual decline in the NAV as Link see fit.
I got out with a 30% loss and won't be rejoining this one with or without Woodford.
Maybe they are not all worthless but many are illiquid to say the least. Actual disposal price may be at significant discount.
Compare to overdraft repayable within one year - how much is that now? It was £149m in last accounts!!
When I commented of 3 companies.
They are not all worthless. Read my latest report.
How low can it go? Remember same question being ask at 60p with the same reason for a rise being given.
Horse trader: You may be correct, and Woodford was only guessing at the potential of some of his later purchases, rather than be patient and only buy those with very good potential. On the other hand perhaps these purchases do have potential which has not been realised yet. To be honest it is all a bit of a gamble , but those he bought recently, was it at a low price? what is their value now? with the SP so low and the estimated NAV is very high there is a range for error, which would at least give us back our investment at 41p. We either get out (which we should have been done when a stock falls 10%) or buy more to even out your average if you feel it is under-priced.
We buy a large range of investments and we know 50% will not be very good or just doddle along, unfortunately we do not know which 50% they are!!! some surprise some disappoint.
The blood is running in the gutters because Woodford has seemingly invested With a scattergun approach into a pile of worthless companies.
It beggars belief that so many of his investment decisions are so poor.
Regardless of the 3.4p reduction in NAV it is still about 75% above share price. We are looking to add to this when it has settled,. Possible just under 40p but expect to have to pay just over 40p once the panicking has stopped and the buyers return. We hold a big lump of FFWD another which it's SP is nearly half of its NAV and also adding to that. WPCT has only dropped because Woodfords problems in a separate fund. Once people realise this then it will begin to rise again. buying at this price could show a hefty profit in the end. After all just how low can this go.
Remember, BUY when the blood is running in the gutters and SELL when everyone is clambering to buy when a share is at its top.
PSDL, FFWD, SLS, ASL, WPCT, IIT, TRG, AFMC, along with a gamble in AAM to mention a few (yes we do hold them and buying more) will all hopefully pay dividends in the end, when they rise to their correct price. How many times have we looked at a share at its high and seen it has jumped 50% or more from its low and said "We really should have bought in then" Never buy at the top, buy only when a share is at a low SP and its value is high.
When an authority stop this man destroying people life saving, is there no body to protect us , old pensioners !!!!!
Things go from bad to worse. Difficult to see how his reputation can recover and must be time to replace him as manager. Confidence seems totally destroyed.
IH cold fusion not working?
ESL suspended - does woody still hold 22.8% ?
Lucky Baxter, mine’s down 62% and I keep hoping it’ll improve. Painful!
I'm out of this with a 25% loss, it's a sinking ship Woodford is old news
Woodford has exited Ultrahaoties and sold to Mayfair Equity Partners. He has apparently made a considerable profit Next up is Oxford Nanapore There is another holding of London Healthcare Firm BenevolentAL
You mean like clinigen and gvc both became a great success
....before this becomes an AIM stock.
And we all know what happens to stocks when they get listed over there !!
Read my message about Burford just below yours.
Quite a lot of buying activity, is it just that that has resulted in near 9.5% rise?