Woodford Concerns

bowlhead99

AnotherJoe wrote: »

BH, I think you are 180 degrees wrong but i respect your opinion.

I have no skin in this game (I'm not shorting it for example) so i wish you all the best.
I reckon you'll be lucky to get 20p back per share, so good luck.

Thanks - if I thought 20p back per share was an optimistic outcome I wouldn't have bought it. But it is of course a possibility, as is 40p+ or 50p+ over the longer term. I don't think for a minute that anyone could firesale the assets for 40p or 50p within the next six months, but 50% return from 33p over the coming few years could work.

I have had decent returns with some things 'priced for failure' over the years, and some losses of course.

Brian65

Best FT article I have ever seen published today; Neil Woodford: the inside story of his rise and dramatic fall
Stockpicking aside, Woodford comes across as the polar opposite of the mild-mannered Buffet. Stocky, foul-mouthed, cropped hair ex rugby player, using that to intmidate and bully, charging through doors busting the magnetic locks rather than use his security card at Invesco, when he flew into a rage after being thwarted from buying the stocks he wanted by their risk and compliance team.
No such problems when he got his own firm and could fire them.
The stockpicking seems to have come unstuck because he didn't have the audited accounts that were easily available for the big plc's he bought into at Invesco. Being outside London he wouldn't get to hear of so many investment opportunities. Rather, it seems to have appealed to his ego, going round the locality being treated like Royalty having the power to change people's fortunes by making a massive investment in their start up. Crucially, the valuations appear to be based on information supplied by the start ups themselves!! - and they are high-tech businesses a non-technical fund manager wouldn't really understand.
The other big difference is, as already stated on this thread, they need interminable rounds of fundraising before they may or more likely may not start making a profit.
Commentators were as sarcastic about Woodfords claim his sell out when the share price was in the 60's was 'to pay a tax bill', as they are of HL's claim that their 'Wealth 50' list does not constitute advice.
I'm afraid there was nothing to indicate WPCT is under-valued.

Novice_investor101

At least one insurance company got rid of the Woodford funds from its personal pension & Bond life funds about 18 months ago - clearly unhappy with where he was steering them...

itwasntme001

Novice_investor101 wrote: »

At least one insurance company got rid of the Woodford funds from its personal pension & Bond life funds about 18 months ago - clearly unhappy with where he was steering them...

About the same time as i sold

[Deleted User]

The fingerprints of Hargreaves Lansdown all over this fiasco.
Nearly 300,000 of their clients put into Woodford funds, if this link is credible

https://finance.yahoo.com/m/6f59694c-01bd-30f1-9314-d149a5105294/angry-investors-count-the.html

[Deleted User]

Just to add:

"Hargreaves Lansdown funds with exposure to Neil Woodford’s collapsed investment vehicle have bled a net £439m over the past four months, sparking fears that the liquidity crisis that engulfed the former stockpicker could spread to a new cohort of investors. Hargreaves, the UK’s largest fund supermarket, operates an £8bn own-brand multimanager portfolio range that invests in the Woodford Equity Income fund, which is suspended due to problems stemming from its exposure to hard-to-sell assets. A recent run of investor redemptions from the Hargreaves range is fuelling concern that as the multimanager reduces its position in other funds to pay the withdrawals, the Woodford fund will make up a larger proportion of the portfolios, endangering remaining investors."

https://finance.yahoo.com/m/ddbc4a5b-c3e0-3f58-b438-b0b257ceaa02/hargreaves-fund-outflows.html

bowlhead99

"In other news tonight: fueled by media speculation that investors diving for the exit could cause a run on the fund, investors dove for the exit, causing a run on the fund. We the media are appalled at this shocking event!"

talexuser

itwasntme001 wrote: »

About the same time as i sold

yep, me too.

Brian65

Panorama BBC1 Mon 21 Oct 8.30pm is about Fund Managers including Woodford.

redux

bowlhead99 wrote: »

"In other news tonight: fueled by media speculation that investors diving for the exit could cause a run on the fund, investors dove for the exit, causing a run on the fund. We the media are appalled at this shocking event!"

Same with fuel shortages and panic buying.