Woodford Concerns

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

Scarpacci

To avoid any impression that Terry Smith and Nick Train get undue adulation around here while Neil Woodford is roundly pilloried, it might be worth noting that in September that the [gated] Woodford Equity Income Fund (-1.5%) fell less than both Fundsmith (-3.2%) and Lindsell Train Global (-2.9%).

Needless to say, a month isn't a very long time and it hardly makes up for WEIF's longer-term performance. Still, it's interesting to note the move in the market last month away the global growth stocks and defensives into less highly-valued areas. Exactly the sort of thing Neil Woodford has been waiting for.

But with the economic data out of Asia, Europe still weakening and now with poor manufacturing data in America, I personally can't see the attraction of the more cyclical stocks. But, for a month at least, people seemed keener on them.

talexuser

Questor share tipper in the Borisgraph today says sell Patient Capital, crystalising a 54% loss on their buy recommendation at 93p in 2017. It says some professional investors say they may fancy a punt if the price gets to 30p.

It says buy Syncona instead which has fallen a third from its high point.

iglad

Scarpacci wrote: »

To avoid any impression that Terry Smith and Nick Train get undue adulation around here while Neil Woodford is roundly pilloried, it might be worth noting that in September that the [gated] Woodford Equity Income Fund (-1.5%) fell less than both Fundsmith (-3.2%) and Lindsell Train Global (-2.9%).

Needless to say, a month isn't a very long time and it hardly makes up for WEIF's longer-term performance. Still, it's interesting to note the move in the market last month away the global growth stocks and defensives into less highly-valued areas. Exactly the sort of thing Neil Woodford has been waiting for.

But with the economic data out of Asia, Europe still weakening and now with poor manufacturing data in America, I personally can't see the attraction of the more cyclical stocks. But, for a month at least, people seemed keener on them.

It's not about adulation, it's about getting the job done which Terry, Nick and Michael have done handsomely in these volatile times.

iglad

coastline wrote: »

Buying the dips. LLOY, LGEN, RBS and BT, BATS recently. Low forward P/E values and some in single figures. Juicy dividends thrown in. Look at the charts in the links.

https://citywire.co.uk/funds-insider/news/woodford-buys-lloyds-rbs-and-legal-and-general-in-ftse-100-spree/a1275004

https://www.share.com/investments/shares/140/legal-and-general-share-price

https://www.share.com/investments/shares/203/royal-bank-of-scotland-share-price

https://www.share.com/investments/shares/183/lloyds-banking-share-price

Theses are shares he should have held onto however he's getting some bargain prices but it's not like they gain in value however the dividend will be decent. I don't think the Lloyds share price has changed in the past 10 years or so.

AnotherJoe

Whats the thinking behind buying more shares if he will have to sell again to raise money in December when the gate opens - unless of course theres no intention of opening in December and instead the plan is to strand people in WEIF for a much longer period and hope a rise in values by say mid next year means fewer will wish to bail out and he can brag he's turned the corner?



If he was opening in December its obvious they would need cash not shares and it makes no sense to hold shares for a few months when you need cash, they could fall in that time - oh they have.



Much of what he bought this summer (BAT, IAG, BT) must be down since then.

So, a very risky strategy.

Chtuzpah squared.