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Read this online.
Scary and reminds me of Quindell.
And we're expected to believe the NAV here?
I know woodford is a one trick pony it seems now, but given the high profile why would we not believe the NAV here - surely wouldnt liying about this be a bridge too far ???
mrcautious, you need to read that article we're discussing.
Wodfood's words at the time were "we've valued it at the price of the last placing" or similar.
Which involved very close parties and was as bent as a nine bob note, imo
Why do you think some people are suggesting Woodford should be imprisoned for fraud?
I wouldn't go quite that far, but then I've read an article about cold fusion;
https://en.wikipedia.org/wiki/Cold_fusion
And it doesn't make for good reading.
At the very least, it seems to me Woodford had too much money to invest and just punted it, on some absolute rubbish.
Someone at Cavendish Lab, Cambridge likened cold fusion to spoon bending .
That article was impossible to follow.
Sone knowledge of physics helps to understand that there is no theoretical basis for low energy nuclear fusion.
Note also that there has been no peer reviewed publication supporting the claim and ALL attempts at reproducing the experiment has failed.
Woodford is also dealing behind closed doors now across his funds and it is difficult to see what is going on. With borrowed funds in WPCT at 16 to 20% what is really going on, the NAV is purely plucked from guess work!
Yes I dont disagree - placings like this are in the circle of mates and at mates rates - I dont think in any way Woodford should be shown any leniency..Given recent events and failures of so many financial organisations such as London Capital Finance to name one, there seems to be a culture of fraud across the whole financial community.