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read the comprehensive ADVFN platform threads and do not take notice of this NAV compilation, undeclared devaluations in the pipeline.
The whole Woodford trust and fund involvement looks a massive looming scandal. I moved from his funds over the last two years thankfully and invested much in the areas he was avoiding. I was looking to buy back in WPCT but even in a new manager the foundations and investments need renewing, beyond repairs IMO.
Being more a contrarian investor, what are people’s thoughts here. 90p down to 50p over last 6 months - over-reaction to Woodford’s problems elsewhere? NAV reasonably higher then current price. Possible new (and better) managers coming in.
Considering whether to invest a little (speculation and understand risk).
All responses appreciated. SR
if you clink the link you have to register with ft alphaville. but if you cut and paste the link into google search, the ft article should open
Warnings about IH have been in the media for years. This is from 2016.
https://ftalphaville.ft.com/2016/11/25/2180322/so-neil-woodford-invested-in-a-cold-fusion-company/#comments
If he really does have all his personal wealth in Woodford funds then that would breach part one, page one of semsible investing - spread your risk. That includes not having everything with one management company!
I suspect he's in the process of bailing because he knows he's going to be sacked, given the fact that the board are talking to other managers.
his scatter gun approach to investing without due diligence is obvious for all to see now, cant believe the pennies only just dropped how poor his investments are, and to start cashing in now , Sold mine 4 weeks ago at near 45% loss, can only hope he loses a far greater percentage of his wealth ,not that it will have any impact on his lifestyle
Agreed, he could have easily got the cash elsewhere. I'd be incredibly surprised if he didn't have another way to pay the tax bill
horses / bikes / porsche?
dressage arenas?
weekend house in devon?
expensive 2nd wife?
- plenty of other ways he could have raised cash.
& remarkably poor that he took 3 weeks to notify.
Neil has stated many times all his personal wealth is invested in his funds. Equity income is gated so he can’t sell any units he holds there and he’s not taking any dividend or wages from WIM so selling some of his wpct shares is not a sign he doesn’t believe in the trust.
and he sold 3 weeks ago, he could have sold more by now but there is a large delay in information - simply he is not to be trusted just by delaying any RNS. So who did he sell to and is he running rings around the Board?
.....so Neil has a tax bill to pay and needs to get a pint of milk for the fridge. So, of all the shares and investments he has, he decides to off load more than half his holding here. Hmmm....
Wish I had done the same a couple of years ago on all of my holding.
Does this indicate that NW thinks the management resoonsibilities are fairly likely to move elsewhere? Or just all his other (non Woodford) shares are better investments than this?
Somewhat patronising is it not?
WIM are selling off many of the better assets at discounts so WIM are in a worse position than thought, don't rely just on LSE threads, look at what's happenng.
Still the NAV is no guide to the true value of the portfolio, where's the regulation! There's no grounds for an 81p NAV so don't just buy on the large discount.
This is going to be difficult to sell or even find another fund manager to run for the WPCT Board.
It is not the done thing to recommend other investments but as I assume you're American I'll refrain from insulting you - shame your President is nowhere near being such a gentleman.
My suggestion is that this fund is renamed
Woodford Venture Trust to reflect its propensity
to invest in unlisted startups.
https://citywire.co.uk/wealth-manager/news/woodford-patient-s-limits-loom-as-proton-stake-balloons/a1247401?re=66013&ea=1067544&utm_source=BulkEmail_WM_Weekly&utm_medium=BulkEmail_WM_Weekly&utm_campaign=BulkEmail_WM_Weekly
Here we go, the top 3 investments could be 50% of the value of WPCT following a call by Proton for up to £45M further funding which looks currently overvalued. Big effect on the fair NAV, there is little hedged risk in this.
It also appears the current NAV's are based on the last results OS Capital, far less today.
I do hope NW has been taking the contraceptive gel that he has investors money in so the likes of him don't breed further!!
Lots to come out of the woodwork yet with WIM (and HL).
Woodford is manipulating the rules. Outrageous. Not up to him to move the domicile of a holding. He is so clever will try anything to bend the rules
Don't buy whilst the fund hold Industrial Heat.
Ben AI's potential devaluation will take another 4% off the WPCT NAV and most of the 90 odd investments are likely to be worth far less. In the weeks to come don't be surprised at a 50% fall in the NAV. There is much debate about the competence of Woodford IM team too. When is the next formal 6 monthly NAV?
The best buying time is awaited.
I believed in the trusts concept and even bought more at 109p based on the trust and competence of WIM., but not now as it is apparent that he has just splashed cash on a couple of horses and lots of donkies!
Another financial scam and there's only one group of losers.
Marty the daily NAV has been a standard published report since the start of the venture .It got nothing to do with FCA regulations as far as I am aware
I assume the more formal daily nav calculation will be at the behest of the FCA.
The NAV guestimates have always been daily and only formally reviewed every 6 months, time will tell what the true value was so remember this recent level of NAV's and compare to a probable drop in the months to come clean following valuations and Woodfords sales divulged fully.
The NAV process and the related checks and safeguards were outlined in the RNS dated 28 June. I'm sure the auditors will check it all very carefully at the next reporting date