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And precisely how are ALL the non quoted stocks to be sold. Never going to happen. Actually some have been realised at a profit recently. Dangerous to generalise about the NAV and valuation. I am a holder and hanging on.
I do like a good discount. And pushing 30% is rare. Woodford track record is also rare; and though 99% of “active managers” don’t beat the market, some do. Warren Buffett for one, and we all know his advise.. fearful when all are greedy, greedy when all are fearful..And investment trusts can just hang on in there till times change. I quite like his investments. Clearly risky, but with clear upside.
It’s always tempting to try and pick the bottom but difficult to do. I think this is attractive for an old bottom feeder like me to start to accumulate.
share for me, for now at least.
Woodford is going to sell all of his non-listed companies in the EIF and these make quite a high percentage of WPCT, so surely they'll be affected?
As for the NAV, I don't believe it for one second.
Maybe the Board don't see a conflict of interest but Woodford will be putting out (or at least trying) other more pressing fires and not reviewing this portfolio objectively.
He doesn't earn any fees from this fund.
Just hope he doesn't sell what liquid shares he has here to buy at inflated prices more junk held in his gated fund.
An independent and new manager to review objectively the way ahead would be helpful as the reported NAV is meaningless.
Patient is now the most-shorted trust in the FTSE 350 with 4.4% of shares on loan.
https://www.standard.co.uk/business/woodford-in-stocks-blackout-as-he-fends-off-shortsellers-a4163576.html
and Woodford's devious moves to circumnavigate the FCA's meaning of hitting 10% unquoted stock targets via Guernsey and being open to investors in the WEIF promotional aims will not help his reputation now.
What else is going on now to rescue the situation 'for investors' could be after protecting his interests first?
Late and vacuumous, it's in the Portfolio Manager's hands?
https://www.hl.co.uk/shares/shares-search-results/w/woodford-patient-capital-trust-ord-gbp0.01
Interested in bottom feeding here but....look at the HL graph and NAV here is about 80p a share while its trading at 60p. How can anyone trust a NAV figure when the fund is invested in non quoted or il liquid small biotechs. It is highly speculative, not in itself a problem but the press coverage of Woodford killing the sp.
So watchjng but not buying for now.
The cross contamination may well effect the values of most of the 90 odd companies in here so it could be a long decline. Woodford's credibility is being dented by HIS decisions and the lack of support by past and present investors and press.
Exactly my thoughts beardozer. Some shares are oversold on bad news and being quick to buy back in can be a good policy. But here the bad news is going to be drawn out as it is part of an unwinding process. It is difficult to see how it wont end up going lower as this plays out and then at some stage it might be investable again.
"just his investments are not yet performing" - which at the end of the day is all that matters.
WPCT and the closed to retrieving your cash Equity Income Fund share many investments. Why Woodford thought an open-ended fund was a suitable vehicle to invest in highly illiquid assets is a mystery. But as he's forced to liquidate the assets to meet redemptions in the Equity Income Fund the identical assets in WPCT will suffer even more. Strong sell until the bottom is reached.
I m not going to say he's done everything right he hasn't but He will have large overheads offices staff they don't get paid on goodwill!!
"I am looking ten years ..." 10 years? Maybe see how the next ten days go. Some real Woodford fans here.
Time will tell, alarm bells started for myself when his transparent fee structure was not and had to amend. He is making a fortune from failures and he is not alone.
It’s a joke comparing Woodford and green. Woodford is honourable just his investments are not yet performing he’s done nothing to justifying whether or not he’s honourable
It may well turn out to be a ridiculous NAV value, really.
I like the Money Podcast today where Neil Woodford and Sir Phillip Greens photo's were side by side. Spot any differences!
https://www.dailymail.co.uk/money/investing/article-7062597/Why-buying-Woodford-Patient-Capital-Wise-Funds-Tony-Yarrow.html
Ridiculous discount to NAV
Feeks I agree but at this point nothings a certainty I am looking ten years though so just going to wait and see!!
100% Bruce don't understand the mindset to many sheep investing give hime time I m sure he will reward!!
100% Bruce don't understand the mindset to many sheep investing give hime time I m sure he will reward!!
Very sorry I misread the RNS got it wrong way round!
Grippa there is going to he a bit of cross contamination from all the down selling. It is not a death spiral but I can only see downward pressure for now. I will wait and see
WPCT did pay a divi....once (0.16p...!)...and it was a one off. Perhaps that's why the RNS reports both cum and ex divi even though a divi is no longer being paid.
It's a punt IMHO, but then it was a punt before WEIF liquidity issues and any potential fallout. It is definitely not a bet the farm investment.
I saw the BlackRock announcement on the 5th when they reduced their holding from 11.07% to 10.76% followed by the NAV statement on the 6th June. Cant see any other RNS'.
Good news Black Rock have increased their stake.??? Which RNS are you looking at?