NG initial denials regarding their responsibility in Fridays power cuts could well lead to large compensations - it is clearly for NG to provide sufficient contracted spinning reserve and emergency generation from the UK and abroad to back up frequency falls with such a small loss of generation. The management of the current UK system is a fraction of the high power fluctuations from our previous high energy industrial base.
read the comprehensive ADVFN platform threads and do not take notice of this NAV compilation, undeclared devaluations in the pipeline. The whole Woodford trust and fund involvement looks a massive looming scandal. I moved from his funds over the last two years thankfully and invested much in the areas he was avoiding. I was looking to buy back in WPCT but even in a new manager the foundations and investments need renewing, beyond repairs IMO.
and he sold 3 weeks ago, he could have sold more by now but there is a large delay in information - simply he is not to be trusted just by delaying any RNS. So who did he sell to and is he running rings around the Board?
Still the NAV is no guide to the true value of the portfolio, where's the regulation! There's no grounds for an 81p NAV so don't just buy on the large discount. This is going to be difficult to sell or even find another fund manager to run for the WPCT Board.
Ben AI's potential devaluation will take another 4% off the WPCT NAV and most of the 90 odd investments are likely to be worth far less. In the weeks to come don't be surprised at a 50% fall in the NAV. There is much debate about the competence of Woodford IM team too. When is the next formal 6 monthly NAV? The best buying time is awaited. I believed in the trusts concept and even bought more at 109p based on the trust and competence of WIM., but not now as it is apparent that he has just splashed cash on a couple of horses and lots of donkies! Another financial scam and there's only one group of losers.
The NAV guestimates have always been daily and only formally reviewed every 6 months, time will tell what the true value was so remember this recent level of NAV's and compare to a probable drop in the months to come clean following valuations and Woodfords sales divulged fully.
and Woodford is in charge of selling stocks that will effect the WPCT NAV, what has he done in the last few weeks before the WPCT has required him to 'let them know'!!! With most of the current Board connected to Woodford this is still a gamble and I wonder how many will still buy when the NAV is adjusted when the fire sale prices are (if) released.
Good, reads as if Woody had no leash to WPCT. If the NAV is evaluated lower, quite likely imo, then the gearing will be far higher and a problem to wipe out in 12 months. So still a higher investment risk than anticipated for this IT.
At this level it has to be worth a punt with the possibility of Woodford IM being served notice so WPCT is nearly independent. The risk remains with three of the non execs having direct interests in the holdings (a Woody tactic) and the £150M overdraft facility that maybe drawn to the limit and could be called in? Lots of risks so going to have fun with a punt.
RE: FT Alphaville BenevolentAI article18 Jun 2019 10:14
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!
Circ £22M to Woodford plus all the other fees/ income from the Ltd Co. for LOSING other peoples money. There are far better and safer tracker funds, fund managers and advisers like this have demonstrated that most fail to outperform.
RE: BruceJamieson/Doubleheadedcoin17 Jun 2019 09:09
How come all the Woodford press articles are in the business sections - the sport section is far more apt! Kier never featured in the 97 Co's listed in WPCT but they could be heading for inclusion soon!