Eadwig
25 May 2018
Re: Premium too high savenierres [ 17-11-15 ], "Eadwig you're so moneysupermarket don't you sometimes frighten yourself with your investment genius? "savenierres,Still urging people to wait 5 years and being sarcastic to anyone who sold on a >15% premium and describing a strategy approach in good faith?Such a strategy would have given the chance to take profits and re-invest later at the IPO price (as I was pointing out when you posted the above response). You could do it now at 75% of the original price, unfortunately.Genius? No, just a common-sense approach as I, and others, described at the time because the premium couldn't last. Perhaps more listening and less sarcasm would serve you better in future.Does anyone still think this is a good long-term play, even at this price, I wonder? I'm verging on taking it off my watch list because I feel Woodford has probably moved on to concentrate more on other funds in reality after concentrating far too much of the fund in just a few picks - as I also posted a warning about.3 years in, even at the estimated 10% p.a. return many spoke of, IPO holders are still looking at another 3 years just to break even if the comeback starts now.
Davala
25 May 2018
Re: Have had enough .... I think Woodford has a contrary approach. in his income funds he is concentrating now on out of favour British companies. he came to his fore after the Internet crash, when he avoided the bubble and of course had not invested in the Banks, or had sold them ( he is back in with Lloyds now).So, in a way,I am hoping that when the market turns, as it always does, perhaps again, Woodford investments might be in fashion again.I invested at the start but averaged down ( i know its not right but it worked for me with Aviva) so my average price is now 86- not so much below current NAV. Also my entire Woodford investments are about 7% of my total, so important but nowhere near what i have in Lloyds or BP
badinvestment
24 May 2018
Re: Have had enough .... Hi Davala,Thanks for the reminder. Personally, I got into banks during the crash, 51p for Barclays being my absolute best share buy ever. 
On WPCT, I am far from certain about ever getting decent returns though. The rock bottom expectation for any fund manager, Woodford being not the least of them as you say, is to at least preserve the capital they are trusted with. If good calibre investment staff can get massive bonuses elsewhere, while those working on WPCT now have to fill a sizeable hole in this funds finances before they can even think of charging us the fee that would pay these bonuses, then anyone of any stature must long ago have moved on or perhaps thought of it. What level of talent remains with Woodford is unknown to me, but given his recent performance, surely he must have lost some of his best people? If that is the case, poor performance could snowball. This is just a guess of course, but in a competitive industry like this………..Woodford needs to produce some evidence of capability sooner rather than later.
Davala
24 May 2018
Re: Have had enough .... he asked for 5 years, give another twoSo far its been all bad news. if one or two work out this could quickly turn aroundThis is the man who avoided the internet bubble and got out of banks
badinvestment
24 May 2018
Re: Have had enough .... Hello to Sage and Axel,Only the brave can admit their mistakes and move on. Good luck to you both on making up the losses that WPCT has inflicted.Now I have to face my own demons, and make a decision on whether to cut and run, or stick it out here for a while more. 
sage in the hills
24 May 2018
Have had enough .... Sold out this morning .IPO does the same job as this fund claims it has to do, but IPO has grown 40 % over the last 6 months.My proceeds from WPCT have gone into Plus500 which announced this morning it is applying to move from AIM to main market.SAGE
Carefully Does It
24 May 2018
Re: be patient I don't know where that BUY flag came from. It's not a BUY.
axel27
24 May 2018
Re: be patient Bad investment,Good morning, and let me say that I agree with your points. With ISA money, I am a ruthless short term buy and sell merchant. It works. Mr Woodford is attempting to provide stable capital for earlier stage companies (I think) who need access to lower cost capital to grow.Being quoted therefore is a risk ? Woodford has thousands of folks valuing his (?VC) investments. Today they're at 24p discount. I do wonder at his risk profile compared to say a Downing VCT and time will tell.But hey, I'm sure Woodford's company still charging for their services, although I hope he is personally looking at some loses on it. I am. A, about to be ruthless with WPCT
Carefully Does It
23 May 2018
Re: be patient This should only be a very small percentage of any portfolio. In fact so small it may not be worth holding.When liquidity issues hit the first thing that is sold is that which has a market and for which a price can be commanded. One of the Woodford funds has been selling down GROW. It's precisely the type of holding to not let go, so why has it been? Probably because cash is needed.I'm quite patient, have some holdings for 10 years, don't trade, like to support small UK growth companies. However, have to question the managers execution in this fund. After holding for a long while I decided on a different approach. Something doesn't add up here.
badinvestment
23 May 2018
Re: be patient I know patience is a virtue and all that, but in investment terms, there is an opportunity cost to indulging this virtue. While our cash is losing value here, it could be better used elsewhere. Then, should WPCT ever show signs that it has not actually expired, reinvestment would be possible.The point is that while anyone's 'patient' capital can put up with marking time, or with small returns, destruction of our hard earned, as has happened here is a real problem.
axel27
22 May 2018
Re: be patient My IFA has attended his audience with Mr Woodford...Afraid my ISA stock picks outperforming the professionals Woodford and my IFA consistently. Keeps the brain active and my IFA calls it "the betting shop".Woodford has gone out on a limb, and I quickly reviewed his 5 top companies to see there were no obvious bananas. I liked the buy of exposure at 25% discount to launch....Summer sale.But....I'm being patient, it could be years before it turns around and there may be further summer sales. Good luck all.A,
riverside red
22 May 2018
Re: be patient A financial advisor I know is attending a meeting with Woodford next week. A charm offensive?
cudntpikmynose
22 May 2018
Re: be patient Dunno what to do about this, down 20 odd percent. Basically he has wiped out my gains on my own picks. His other fund is dragging its feet. if you read his blog , the chap who replies to questions is a right smarmy g*t
sauloman
22 May 2018
be patient That what we were asked to do at the start of the fund. Since then its lost quarter of its value and the share price seems to drift slowly downwards. No information from managers of where we are now or the future. Sorry Neil not good enough!
badinvestment
21 May 2018
Re: Big Turnover Hi Riverside,I have to agree with you on losing patience. When I bought a stake here, I did so because I was trying to play safe, and assumed that Woodford and his research crew were bound to know more, and have better access to market knowledge than me. Fortunately, I hedged my bets by splitting my cash, half into WPCT, and half among 4 others (APH, ARL, HDD and SXX). Of these, only ARL is doing badly at the moment so at least overall I am in profit. However, doubling my stake in those 4 would have seen me in a much better position. Isn't hindsight a wonderful thing?
