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Woodford Concerns
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I still have more than I would like in Woodford. At least the price won't dive any further during the suspension :-)0
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Noticed they have closed the comments on the Woodford official site as well.0
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Oh dear.
RIP Woodford.0 -
The legacy is gone for Woodford but the bank account remains.0
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Let this be a warning to people that think funds are safe versus a portfolio quality stocks.0
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inflationbuster wrote: »Let this be a warning to people that think funds are safe versus a portfolio quality stocks.
And you think shares are exempt from losses?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
inflationbuster wrote: »Let this be a warning to people that think funds are safe versus a portfolio quality stocks.
Woodford probably thought his fund was a portfolio of quality stocks... he convinced plenty others it was, too.
Now he will be known as a stone cold loser.0 -
"Hargreaves Lansdown head of research Mark Dampier told Citywire the fund would be removed from the broker's Wealth 50 buy list."
Too little too late for all those investors who got whipped up in their hype of his "legendary status" and "solid investment philosophy".
If anything, it's a lesson to investors, especially those in drawdown, that you need to have a sufficient cash holding to ride these kind of situations out. It's not just to protect your income stream from poor market conditions (which will catch a lot of people out in the next big downturn, especially when a large number of funds will freeze trading to "protect investors"), but to protect it from fund manager lunacy also!0 -
I still have more than I would like in Woodford. At least the price won't dive any further during the suspension :-)
Surely the suspension does not affect the prices of the shares in which this fund invests, and so they could still go up (or down).
I hope this will not affect his Patient Capital trust.0 -
Voyager2002 wrote: »I hope this will not affect his Patient Capital trust.
Not much action there to speak of today. (When I read the news, I did wonder if the discount would widen as a panic - but no; or not yet.)0
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