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You are right with your comments, i am not invested here but my wife is via her pension, she is 60% down and i cant see the point in selling given that anything that might go up by 60% could go down by that much just as quickly.
In my opinion i think this will move forward once they appoint a new manager & team to look after things, by how much is anybody's guess, surely if this was as bad as some are stating on here then they would have suspended trading by now, maybe they will who knows?
Although i would like my wife to buy more she wont, i think it is worth a punt at these prices, like as been said although Woodford as messed up to say the least there has got to be some decent investments in here somewhere. The drop is overdone in my opinion as nobody really knows the true value.
I'd like to think so Peggy, trying to incite extra fear when people are already at breaking point is a simply disgusting!!
Denial is not a river in Egypt.
"anything that might go up by 60% could go down by that much just as quickly."
i guess you meant that the other way round as justification for hanging on, but it doesn't work that way.
"i think this will move forward once they appoint a new manager"
The manager is not the issue any more. The people doing the valuation and the people who chose the shares are the problem. A new manager wont make Woodfords selection of rubbish companies turn golden overnight, or ever.
"if this was as bad as some are stating on here then they would have suspended trading by now"
Its an IT not a fund, it cant just be suspended it would require (as i understand) a shareholders vote first.
"Although i would like my wife to buy more"
Why dont you buy some, with your own money?
" there has got to be some decent investments in here somewhere."
Why? Seriously, why must there? And to the point, why must there be enough to make it profitable. If they can be duped to buy shares in a worthless venture for £32M (IH) what else can they be duped by? Plus theres' £110M in loans waiting to be called in. Where's that coming from?
Some posters have been warning for years to get out. Dont blame the messenger.
I bought in on the woodford name like most, but if the NAV report is an, thats the big question here like accurate this is not in too much danger, thats really the big question here.
I am not such a fan of investment trusts although I have a few in my portfolio. The reason being is that an IT can be trading at a huge discount to NAV and still perform poorly if there is no trading volume. The market is littered with examples, however not many are trading at the stated level of discount as this one.
WCPT is at a well publicised and significant discout to NAV.
- Theres very little reason to believe the NAV is correct.
A lot of that discount will be attributed to being associated with Woodford.
- No, the discount is attributed to the fact theres very little reason to believe the NAV is correct or in fact anywhere near its actual value.
who has now resigned as fund manager. It is the best thing that could have happened for enabling a partial recovery in the interim.
- That is like saying that now the captain of the Titanic has jumped overboard, everything is golden.
- I suggest you check into Capita who were fined £66M for criminally negligent valuations. Capita became Link. Now look at who is providing the NAV valuations.
- As an aside, ironically, below the "post message" button here is a generic warning from the FCA saying that "posting info that is false or misleading may constitute market abuse".
Yet the FCA has been sat on its big fat lardy **** for a couple of years whilst Link (who have track record in this area) provided info, in the form of the NAV, that was provably false and misleading. False in the case of IH for example and misleading in the case of companies listed on the Guernsey stock exchange to provide fake values for the worth of various companies.
-Those here who attack the messengers and stay invested, or invest more based on believing the NAV "must be roughly right" only have themselves to blame for not fact checking the naysayers here.
Were Capita who became Link fined £66M for negligent valuations?
Is IH an impossible company based on a convicted fraudster ?
What does the fact that Woodford spent £32M on a fraud say about his competence in checking other companies
What does the fact that Link uprated IH by 3.5x say about their competence?
How does Woodford leaving change the value of the companies he bought and has left in WPCT?
The most likely action for the board now, given this company is not profitable since it has no income is to start to wind it up and gradually sell the contents (a fire sale woudl surely mean it would realise nothing after costs)
Anyone who doesn't like this, do you think you can respond on the facts not with playground level insults? Or are you so psychologically tied into your purchase you dare not face the facts? Even though at a sale price of 33p theres still currently some value there you can take?