Woodford Warning16 Oct 2019 17:46
How many of you posters follow Tom Winnifrith and his colleagues on *************? If you had, you could have exited WPCT a year or more ago, without loss, as I did. Obviously, I knew when investing that Neil Woodford was investing in Biotech start-ups and he admitted some would fail, but others, he argued would succeed spectacularly and make the losses insignificant. Woodford 'balanced' the illiquid stocks with listed stocks and what did it for me, prompted by Tom, was looking at one of these, Purplebricks. Woodford believed this estate agency had a business model that would 'disrupt' the market and he bought in big, at up to 27% of the equity at one point. Well, I'm older than Neil and found I could not believe this spiel and thus agreed with Tom that Purplebricks was itself far too speculative to balance anything and sure enough, it fell like a stone, as the 'disruption' failed to materialise. I had bought in to WPCT at around 91p and got out showing a tiny gain, but am I glad I did. Thank you, Tom and you deserve many many more readers and no detractors,because what you do is a public service to investors. Panorama, next Monday, I believe..