Neil Woodford makes a comeback

Money_Grabber13579

Surely with such a tarnished reputation, he'll struggle to attract investors, even if it is limited to professional investors only?
https://www.bbc.co.uk/news/business-56060960

masonic

He well and truly had the wool pulled over his eyes with respect to several of his holdings. I don't know how someone with so much experience could have been so niave, so yes I think he'll struggle to find investors that are willing to trust him in his next venture.

[Deleted User]

https://www.moneymarketing.co.uk/news/woodford-to-return-to-fund-management/
See he's trying to shift the blame to Link; as if Link didn't give him enough rope as it was; as if Link (as Capita) didn't have form for this kind of debacle; as if its soft-touch wasn't the reason Link was appointed in 2014. 

 

DoctorStrange

Folk are greedy, and they'll ignore the risks in the hope of outperformeance.

Won't be as big as before,  obviously,  but he'll make money

jamei305

No acknowledgement from him that he did anything wrong, just mentions "a period of under-performance" and then blames others for shutting him down to quickly.

No apology about straying from "equity income", investing so much unlisted low-income growth shares, using Guernsey listings as a dodge etc.. Instead, apparently he's "hurt" about accusations oabout the working culture at his firm.

Moe_The_Bartender

Remember Link selling a bunch of Woodford's unlisted investments to Acacia at a knock down price which Acacia promptly sold on at a massive profit? Guess who was advising Acacia on the purchase? No prizes.

That will really wind up his investors who lost money and encourage Leigh Day who are running a class action against Link.

[Deleted User]

Professional Investors only. That still means individual investors could end up with Woodford via funds under a different name, as happened with so many Hargreaves Lansdown investors.

[Deleted User]

Ah yes, the Guernsey dodge. Listing companies on the tiny Guernsey stock exchange in order to skirt inside EU regulations. Wasn't Steve Lansdown deputy chairman of the Guernsey Stock Exchange at the time? Surprised he didn't raise concerns

IvanOpinion

The bit that many will remember was Woodford still collecting fees as those who trusted him were losing money hand over fist.

LHW99

Thought they said this new vehicle will be Jersey registered - so totally different

Money_Grabber13579

Moe_The_Bartender said:

Remember Link selling a bunch of Woodford's unlisted investments to Acacia at a knock down price which Acacia promptly sold on at a massive profit? Guess who was advising Acacia on the purchase? No prizes.

That will really wind up his investors who lost money and encourage Leigh Day who are running a class action against Link.

I wonder will all this prompt the FCA to be tougher in the outcome of their investigation of what went wrong at Woodford, to try and detract from the heat which is being pointed in their direction over claimed failures in regulating other investment firms?