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https://www.s h a r e p r o p h e t s.com/views/34176/breaking-prothena-purplebricks-crashing-is-woodford-fund-now-in-breach-of-borrowing-unquoted-limits-rns-needed-asap (remove spaces from link) Article provides some possible reasons for the drop.
I obviously didn't make a clear argument in my previous post so here goes.... This is full of toxic rubbish that will be written down enormously when/as the market corrects, current NAV is illusory therefore discount to, equally so. If you want to lose money buy it
Thanks for your reply, still looking like an excessive drop to me, I'll be interested to see how much the nav has actually fallen.
Of a specific reason for such a large drop today. I'm assuming a particular stock has suffered a large fall?
Isnt having much luck at the moment.
This is so spectacularly out of favour that it seems to drop disproportionately. 76p !!
It isn't really immediately subject directly to market slippage per se because the vast majority of this is unquoted. They are, at best, speculative plays which have been ascribed valuations at the behest of interested parties. I would be looking at a discount to NAV of 40% before I went near it and of course that won't happen as it will have blown up with redemptions it can't settle, for the above reasons, by then. Not a buy imo
I sold this at just over �1 earlier this year.....whats happened guys and is it worth reinvesting or is this just part of everything sliding.
Always been a strong believe and follower of Neil's funds and share buys but I think he's lost it completely theses days. It seem the shares he values cheap and buys either drop heavily or don't return any value whilst other funds and flourishing with +10% per annum returns. I think anyone who invested with Neil in the last two years would be truly disappointed and have probably now found alternative funds to invest in. I myself have still holding in both WPCT and Equity Income funds but my faith has probably dropped from 100% to around 30%.
Sold half my holding in this & put it in First State Asia ,10K is too much for an average Joe to have in this risky start up trust imho. Woodford should not have been caught out with Capita, and RM2 in this trust- confidence in him now at an all time low for me.
meanwhile, poor woody's reputation taking a further hit from capita today, although nowt directly to do with wpct.
Good piece in CityWire about WPCT and Neil getting vocal and defending Prothena - great to see him hitting back at the hedge funds!! Also, note the so called Unicorns............very interesting. http://citywire.co.uk/wealth-manager/news/woodford-blasts-us-hedge-fund-selling-prothena-short/a1086911
Need a home for some E & P profits, so added again today. Never bought on inception at 100p, but building a fairly large holding in the sub 85p range. Discount I like and the cycle will turn eventually - I'm patient!!
Havent read this to be fair, but all other indications show that the Woodford aura of invincibity seems to be gone if it was ever there. He hasnt moved with the times in my opinion. Although Hargreaves Lansdown still worships the Earth he walks on still ! I was lucky in that I invested at the right time in his equity income fund to take some profit but I now only have a small holding in this together with a lump of this share that has festered in my portfolio for a couple of years now.
Dare I say it now becoming a buy..........in for another �5k next week. Prothena up 5% this evening which will help. GL
Share prophets, all one word.
are running a series on Woodford and it's beginning to make unpleasant reading, as much as I'm very cynical about anything they say. First there was a suggestion that Woodford is letting WPCT suffer to make his equity income fund look better. Now there is the suggestion that the new income focus fund bought Allied Minds, Prothena and Purplebricks from WPCT because the latter is desperate for money. In other words, Woodford is shuffling. It may well all be rubbish, but it makes perfect sense. DYOR of course, but I strongly suggest you read this stuff, if you can. It seems you don't have to be subscribed at the moment; www.*************.com/views/33435/woodford-patient-capital-trust-the-big-short-chapter-2-the-debt-and-liquidity-crisis
Thinking of buying in as long term when markets fall, which they will in q1 next year then this will look to be a sound investment. GLA
Prothena down 8% today. No relief in sight.
Does Woodford still have a holding here? If so, that's another disaster. I'm contemplating getting back in here, but I can't see many reasons as it seems everything Woodford has touched has turned to shite of late.
Good luck. I won't be putting another penny into this garbage unless it starts showing some promise.
Yes agreed - another £5k being free'd up to be plonked in here!
81p - good God, this is hurting me now