Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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ShareSoc Launches Woodford Campaign https://sharesoc.org/campaigns/woodford-campaign/
The first update of the campaign and our primary objectives can be seen here: https://sharesoc.org/sharesoc-news/sharesoc-launches-woodford-campaign/
I thought we are having a break from your depressing opinion , why don't stop for a few weeks and leave us to make our decision!
It would seem the only reason its up is that there are enough delusional people like you that believe that a change of ticker name means the underlying fundamentals have changed and are buying.
Let see if this holds or is another temporary blip as what happened when it was announced Shriders were taking control. Up 10 in a few days and then back down to where it started over the next week or two.
And I stand by my point, if you think they really replaced all the garbage unsellable shares in a few days, you are delusional. Do you really believe they sold IH? BenAI? etc?
SP now 35.3p but ticker code is now "SUPP". Up 22% since ItsToast called me delusional.
.....pls continue your rants about mid 50 book values, sub 30 share price and, according to that Friday RNS Schroders getting 15% of any gain above 77p, under the new ticker SUPP.
I'll be there, probably still fuming quietly as I read the posts. I only sold half my holding at 85p taking a painful 15% loss. Wish I'd dumped the whole lot. hindsight.
SP up 12% since you called me delusional ItsToast
So many classic quotes..
Everything has value, Benjamin Graham and the thrown away cigar with a couple of more puffs. There are reasons not to buy which is why people aren't. Schroders will be more than happy to down grade the investments, and blame Woodford. In this scenario there is very likely to to over selling and undervaluation. But picking the bottom is abit like picking a top... Not possible you have to start to step in and have b..ls of steel.
Though I have done this before the decision point is never easy. Experience tells me there isnt quite blood on the streets and there will be even more of capitulation yet.
YOU need to understand that the NAV is a fictitious number made up by Link. Every day there's a new disclosure and something is downrated or more dirt comes out and the "NAV" drops again. - mavic has now had its accounts not agreed for FOUR years in a row by the auditors, so who knows how much thats worth, could easily be nothing
IH is currently valued at something, which is clearly a lie. And so it goes on. If you invest in this on the basis of the NAV you are a mug.
SP down but NAV up.
at these discounts its on to keep watching... and maybe start buying.
Doug, if you really think "the dead wood has been weeded out" you are, and i choose the word carefully, delusional.
They haven't even had time to get rid of a few twigs and no one wants the trunk as its rotten.
Is the next target with a fall through this level down to 20p.
Nice.
I like your positivety Uncle Doug.
But there's no way the dead wood has been weeded out.
Not by a long chalk, imo.
But GL anyway.
Up 2.85% today. Up 3.2% yesterday. The dead wood has been weeded out and these are on a recovery. Down day for all indices but WPCT bucks the trend. All looking good for the future.
Someone else likes the discount, but I agree with other posters here, there are reasons that this may be even more over sold. I bought in, then saw the SP fall, bought more then sold on a bounce so at the moment I am about evens. At some stage this has all the hallmarks of a share that will be over sold on discount and probably underlying shares will be over sold; but I am not quite at the level that I'm going to "pull the trigger" and jump in.
Top of my winners today - up 3.2%. Lovely 47% discount to NAV. Onwards and upwards.
..is looking good now 30p has been broken on the downside.
Can only be a matter of time as I have said many times previously that once this becomes and AIM stock expect a single digit share price.
As for NAV, that's the biggest joke !
Tobin,
This has been estimated to have a true NAV of around 5p on a certain website.
I think that's overly harsh and see the proper NAV as around 25- 30p, but it's a guess.
Whatever, do not believe for one minute that this is trading at a discount, imho and be very careful.
"The Discount looks very attractive"
The discount to a fictional asset value? Seriously?
Discounts you'll see on most ITs are to a NAV that can be objectively measured by looking at the value of the underlying investments.
With WPCT, there's nothing but opinion about value, not facts, from a company with a staggeringly and proven bad ability to measure valuation. Valuations routinely rise and fall by a few hundred million or a billion at a stroke with little facts behind them.
Interesting that you have had success with turnarounds before. But every situation is different. What makes you think this will go up besides Schroders taking over? It seems like the portfolio is heavily reliant on a handful of companies for success. Really engrossing subject this one. Cheers
Im going to reply to myself .. it sound like there are still significant cross holdings with WEI. The NAV may go down more..
https://portfolio-adviser.com/projected-woodford-fund-losses-spell-trouble-for-wpct/
But how much is this priced in?/
One to watch if only for the learning experience...
The Discount looks very attractive. I have seen Investment trusts move to near 50% discounts on a couple of occasions and sometimes its is because the assets are over priced, but often it is because of over selling of a sector and fear sets in.
A couple of times I have bought at this sort of discount .. Russia IT, years ago and Pantheon International in 2008-9, that both did well, and Pantheon I still hold.
The NAV keeps getting written down still. Is this because there continues to be re-rating of holdings, or is it a double sell effect that shares associated with woodford are becoming no go areas?
If we are getting to the pointed of 50% discounts on already over sold shares the bounce could be very significant.
I have seen it before, and done well out of it; but contrarian investing is very hard on the sleep...
But of course the way under priced FFWD which we add to weekly and still mid 8ps may be a better bet.
Actually you are not far out with this statement. We only have a few left in this fund and may them and add to the SLS, ASL SCP.
"Schroders will turn this around"
Why not buy the Shroders small cap UK fund then? Decent performance and you wont have to wait you'll get immediate results, with no need to wait for more bad news here.Because its clear there's no good news (although 80p in the Pound on current biotech stocks is a pretty good deal but that knocks maybe 10-15% off the current (overstated) NAV.