Woodford Concerns

Brian65

dividendhero wrote: »

Lions share of the money will be spent on management consultants , the likes of KPMG & McKinsey.

Its Jennifer Arcuri now

Sailtheworld

Thrugelmir wrote: »

You appear to overlooking reinvested income for the S&P 500.

No I haven't. I reckon the 30 odd percent gap between Buffett & the S&P 500 (minus tracker expenses - albeit not much) should cover it. Give or take he's outperformed the S&P for decades and tracked it for the last few years. As investment problems go that's one of the first World variety.

Buffett's other 'problem' is that with a market cap of $500bn he is the market.

I don't know how he sleeps.

dividendhero

LHW99 wrote: »

Fusion ('hot' fusion that is) has already produced verified results, but is not at a stage yet where energy out is commercially greater than energy in.

The Sun's been doing it for millions of years already

LHW99 wrote: »

you have to get over the problem that atoms are generally not happy to mix their protons / neutrons and give off energy..

Oh dear :eek:

Fusion is a nuclear reaction, NOT an atomic reaction. The barrier you speak of is called the "Coulomb barrier"

LHW99

Oh dear :eek:

Fusion is a nuclear reaction, NOT an atomic reaction. The barrier you speak of is called the "Coulomb barrier"

Indeed. You need to create a plasma by some appropriate means before this barrier can be overcome. However this is a money saving site rather than physics, so I assumed exact details could be over the top:)

AnotherJoe

What better example of [STRIKE]bare faced lying [/STRIKE]cognitive dissonance can you get than this statement from yesterday?

Neil Woodford, Portfolio Manager, Woodford Patient Capital Trust plc, says:

"Shareholders have endured an extremely disappointing six-month period, for which I am very sorry. While shareholders can be forgiven for thinking there are no positives, I continue to believe that the majority of the businesses we have invested in are making good progress, in line with our pre-agreed milestones."

Practically nothing he's invested in with his anti-Midas touch has "made good progress" and what has been is far more than outpaced by the long list of write offs of his investments, many to zero or as close as makes no difference.
The farce of Link slowly peeling off the "plaster of valuation" rather than ripping it off to reveal the gaping wounds continued last week with minor downgrades but still nothing on the utterly worthless IH which last time I looked was 10% of the whole NAV and perhaps is more now that many other companies have been written off or substantially down.

Sailtheworld

AnotherJoe wrote: »

What better example of [STRIKE]bare faced lying [/STRIKE]cognitive dissonance can you get than this statement from yesterday?

Ever heard a fund manager say now's a bad time to buy their fund?

It's always a good time to buy when you make a commission on sales.

cogito

Sailtheworld wrote: »

Ever heard a fund manager say now's a bad time to buy their fund?

It's always a good time to buy when you make a commission on sales.

This is about Woodford Patient Capital Trust where he doesn’t get paid unless the trust meets performance targets. When he said that shareholders have had a disappointing six months, he should have added 'on top of several other disappointing six months'

Linton

Sailtheworld wrote: »

Ever heard a fund manager say now's a bad time to buy their fund?

It's always a good time to buy when you make a commission on sales.

Investment Trust managers dont make a commission on sales. Once the share have been initally released subsequent investors get their shares by buying from people who want to sell.

AnotherJoe

Sailtheworld wrote: »

Ever heard a fund manager say now's a bad time to buy their fund?
.

I think both buffet and train have made statements along those lines in the past

Brian65

Linton wrote: »

Investment Trust managers dont make a commission on sales. Once the share have been initally released subsequent investors get their shares by buying from people who want to sell.

True - Woodford was just pumping and dumping his own shares