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Bought in at 21.5p seems to have found the bottom around this price. Tim Creed and Ben Wicks take a different view from you as managers. The annual financial report is well worth a read.
This will make out OK.
...thought Id pop in after being away .:-) .... still in the 20's is remarkable, should be half that >>at best<< in these times, hard enough to value junk when the market is rising let alone when its tanking.
Only hope for anyone holding is that one of the unlisted biotechs in it has a C19 cure, and I sincerely hope they do.
But I strongly suspect they dont.
Facinating to see that this is still in the 20's.
Good luck if you're still holding it.
... no idea why
I've just seen the NAV is 52p!
Hah, that's just laughable and I don't know how they've got the nerve to put that up.
So the NAV is down another 4% and the fund is going to quarterly reporting.
All part of the plan and anyone who buys this is a total mug.
Just my opinion :-)
I totally agree, sbhedges.
As "itstoast" says, this is toast!
It'll be played around with, but it's only going one way long term, imo.
No doubt Schroders made good money selling the good bits off and that'll cover the losses on the rubbish.
All in my opinion and good luck to those of you who still hold.
I don't hold wpct /supp but I am a holder of woodfords major fund weif now lf equity income - unfortunately.
I would view with extreme scepticism the daily navs for supp being published, in view of the fact that after the weif fund was re opened it was quoted at 60p and holders got a big markdown based on the 70 percent that was sold comprising the good/liquid part of the fund.
as soon as the payment was made the remaining 30 percent comprising the illiquid holdings was then re valued at 20p - this part of the fund is still gated and link are only giving navs weekly or so due to the difficulties in valuing such unsaleable stocks. No time frame has been given to when this bad portfolio will be sold off but I don't expect it to be soon give the good stocks took 7 months to be sold.
Given that wpct / supp is presumably almost all of the illiquid / **** stuff that woodford bought, I would draw my own conclusion as to the published navs. I would also say that the weif fund was valued at over 80p and on settlement day came down to 60p, and you got a proportion of that as representing the good fund at a rate depending if you held acc or income units, so I wouldn't even take the 20p price as gospel.
These figures show on my hl holding of weif - as you can't trade this sock you won't see this elsewhere, but I figured supp investors may be interested. as usual IMHO and dyor.
If thats a clear buy goodness knows what a sell would be.
Looks like after the initial (IM unwarranted) optimism, reality is setting in as the NAV continues its relentless decline.
Either the NAV is correct in which case why hasn't some big city firm just taken it over and asset stripped it, or Shroders just sold off parts to get the 52p, whereas its actually at least double and maybe triple what its really worth and you'd still do best to get out. Good luck anyone holding this.
is IH still being valued at > 0 ? If so that speaks volumes for the quality of the rest of the valuations
All those who held on in teh high 30's and were crowing are probably wondering why they didnt sell
I think the reported nav is still far too high. There are a lot of unquoted investments which have yet to be written down to their true value , i.e. zero. I expect the share price to continue to fall.
Some very wishful thinking, it seems to me, but each to their own, I guess.
Meanwhile it seems the NAV is still falling slowly and the SP even faster.
I'm still watching.
Yesterdays incredible volume was clearly a buy.
I am seeing this more and more that any dip in price is a buying opportunity .
It seems the market makers drive down the price when they want to accumulate
Even if the valuation are 505 out the price is at a massive discount.
Furthermore Schroders are more astute at what they are doing and to take over and supply a daily price that is not correct would simply not be in their interest .
I believe happy days are yet to come
Something's going on. Massive volume today. 8.5M already - daily avg 264K. That's 32 times the daily avg !!!
6% off today. That’s annoying.
I'd suggest it wouldn't be a good idea to massacre the Nav to it's proper level either, as what would it do to the SP if they did?
I always note the word "unaudited", although how you put a value on illiquid stocks where Woodford was by far the major investor, having paid well over the top is beyond me.
I'd expect the Nav to be lowered slowly over time, personally, but we'll no doubt see.
For clarity, I don't hold, but watch out of interest.
Also - this one probably has the exact opposite of hype surrounding it. Very few voices championing it’s investment merits at this time.....
Why not anon? The NAV is now Schroder’s own. They have no incentive to inflate it right at the beginning of their tenure. The more future NAV growth that can attributed to their own efforts, they better look.
Or in this case, the NAV.
But I guess some of you will, in which case, each to their own.
There's still plenty to be written down, imo, but it will find a bottom somewhere, where it'll be a decent, much more realistic buy.
6ssk - Hard to imagine a manager who has ever received more (rightly deserved) negative publicity. And re WPCT / SUPP specifically, there are some eye-poppingly bad holdings such as Industrial Heat. And question marks remain about the true valuation of some of these. But as Sir John Templeton said, "the time to buy is when others are dispondently selling". I now hold 10% of my entire portfolio here. Very pleasing to see recent gains. More to come for those willing to wait....
ps. sorry for the spelling above, was typing too fast!
jut took a potion here. Have price targets of 50 or there abouts. Still seems cheap. Not many sell today. Whats your views guy?
cheers
Hi ItsToast - since you called me 'delusional' 3 weeks ago its up 29%. Care to comment?
Good job I didn't sell on your advice. I guess the team at SUPP reckon there must be a few winners in the portfolio as they've got their own skin in the game.
Good to see the Team at SUPP are buying. They must have confidence in the future.
If they are winners, they will be winners irrespective of government action.
Government action wont change a fraud into a company that "can break the laws of physics" , an overhyped AI company into one with real prospects, or single product drug companies whose product failed trials, magically work.