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Schroders will turn this around
…….'Its only a matter of time........before this becomes an AIM stock.
And we all know what happens to stocks when they get listed over there !!'
Looking to have a punt here when its down in single digits.
There you are Uncle and Anon , NAV gone UP 0.13p tonight from this mornings value, we,re in the money we,re in the money. lol Thank Goodness for FFWD, that has gone from 6p last week to 8p tonight to bail us out.
"Once they weed out all the dead wood this will fly."
Why think the dead wood will be weeded out? What they will sell be be the companies that have good prospects because why would anyone buy the dead wood "thats holding it back"? Who would buy it if its junk?
Much more likely they will instead be left with unsellable and cash, eg starting again. Its already in the news they are selling off most of the biotech (but not BenAI, eg "dead wood"
Would you buy IH?
If it will fly when the dead wood is all gone, wouldnt it be simpler to buy that from WPCT, put that into an existing or new Schroder fund, and shut the rest down?
That'll probably be another 20p off the NAV by then.
You're a braver man than me.
Just be patient. Once they weed out all the dead wood this will fly.
We are hoping that the selling is over done here and as we only a small investment in it and with the stock in an ISA we are just letting it run. If there is a turnaround with the new people then we will add again this ISA year if the ISA is not full.
We also have a small holding in SMT which we consider to be able to "plod" on nicely .
We certainly made an error buying in here. it is only 2.6% of our portfolio thank goodness . While FFWD is 12% We expect to add to other ITs, Namely TRG, BRFI BGS, FJV, IIT, PHI and a gamble on AAM Another AIM that has dropped a lot so just a small investment here.
We do keep telling ourselves that you only have to have one AIM company to take off and other losses are more than compensated for. Lets hope we have one that actually takes off.
The quicker Woodford has gone the better, we will all be better off with a new trusted name for the trust.
Puzzling?
Yes, I guess that's one word for it.
Some might think it should be called fraudulant.
Of course, I couldn't possibly comment.
Not sure I understand today's sell off. Everyone knows the value of IH is zero - or is the sell off because the the new team are stupid enough to leave ANY value remaining for the 'investment'?
The initial funding into IH (and subsequent revaluation...) is possibly the most puzzling investment I have ever seen - and by a multi-billion fund management company.....Made after a trip to review operations at some start-up cannabis companies in Canada perhaps???
A further write down of IH doesn’t change anything here, surely everyone has it valued at zero already. Why didn’t LFS write it down to zero in one go ?? Well I suspect they felt it would be an obvious admission that they shouldn’t have written it up in the first place - a series of progressive write-downs for different reasons might look like a gradual change in circumstances. I suspect that’s the plan but I very much doubt they are fooling anyone - apart from the regulator....
Otherwise, if it’s not zero already it will be soon.
I’m pretty sure the write up of the other asset will be justifiable - if it has subsequently funded then they can reasonably use that price to value it now (subject to normal rules) and LFS will no longer be influenced by Woodford - they will be more concerned by rebuilding their battered reputation.
Seems a share price for IH is to be found in Shergar's nose bag..... the internet took me to CityWire info from 5 months ago.
I now wonder if 5p is equal to a 100% write off.
Re Industrial Heat-
Woodford was apparently suckered into buying into IH and then he revalued his holding by +350 % in Sept 2018.
No evidence of any research facilities, research results etc for IH to justify that revaluation or any subsequent valuation put on IH.
Those responsible for the wpct RNS of 21.9.18 should be held to account as the increase in NAV lured investors with the apparent bargain SP discount to NAV
Skeletons and cupboards leap to mind. Lopping 5p off the value of Industrial Heat, tweaking another holding up so overall asset value is 4 3p less. More than 10% of our current market value.
Any one care to advise me what 5p off IH's value is in percentage terms?
Wonder why they don't kitchen sink it and haul out all the duds in one RNS? There could be many more mornings like this whilst Schroders rummage through these holdings.
I dont blame you. No doubt though you would have said the same about Woodford 3,2,1 years ago?
Or even a month ago (otherwise you'd have sold up?)
I wish you all the best, i have no dog in this hunt, whether it goes up or down wont affect my pocket.
It seems to be a day traders playground at the moment though. Very unpredictable.
would have given this good consideration before making their decision. I have more confidence in their decision than the opinion of Its Toast
zzzzzz - what a lot of waffe, toast; full of ifs buts and maybees, and then you categorically state "When Schroders revalue theres [sic] a big shock coming that's for sure". You simply cannot make statements like that and be correct at this time. You do not know and nor do I. You are making yourself look silly.
"Schroders know what they are doing"
Well, true, they have a small cap UK fund which has a good performance. Already presumably full of good companies, and with a believable NAV. So, why wouldn't you sell WPCT and buy the Schroder equivalent rather than wait for all the garbage in WPCT to be dealt with?
Sure, the NAV of WPCT *might* be worth more than its current price - but then again maybe its worth substantially less. When Shroders revalue theres certainly going to be a big shock coming thats for sure, so if you hold you'd better hope its well above the current price (not NAV). Flip of a coin you might say. I'd say they will be harsh so they can get an upside later. Harsh coudl easily be lower than current price.
Depends if you are an investor or a gambler i suppose. Good luck whatever you do.
ODONNELL, I suggest sell one share and buy a keyboard that isn't stuck in CAPS
OD, agree with you that Schroder will steady the boat but can you clarify the final sentence of your post so that we understand its meaning. Thanks.
THANK YOU.
HAVE ADDED A FEW MORE TO OUR HOLDING, (150% OF OUR CURRENT HOLDING) BUT PERHAPS OUR OLD AGE HAS MADE US GO-GA OR WE MAY BE LUCKY AND GET NEAR OUR AVERAGE COST WHICH IS WELL BELOW THE SO CALLED NAV. SCHRODERS MAY NOT BE AGGRESSIVE BUT PERHAPS EVEN HAVING THEM GET THE BOAT STEADY WOULD BE GOOD. WE WOULD HAVE BEEN BETTER OFF ADDING TO OUR FFWD HOLDING PROBABLY, WE MAY WELL DO THAT NEXT MONTH BUT NO MORE ON WPCT.
APPROACHING 80 WE WILL BE APPROACHING 90 BEFORE WE SEE A PROFIT ?
New ticker -
WTF
They still have the old stock, however they may get new investors by buying better quality and using their name and contacts once it is under their name. Then eventually the stock will rise under the Schroders name. Do we know what the new ticker will be?
What an appalling year for long term investers - both SXX and WPCT in tatters. Better stick to AIM O&G exploration companies, it seems.....