Posts by Alan Smith

Frank Acland at ECW has also agreed to support this project - members here who wish to are encouraged to make positive comments there.

https://e-catworld.com/2019/06…p-ruby-carat-go-to-italy/

https://coldfusionnow.org/fundraiser-for-ruby-carat/

I've made this a sticky for a little while. Frank Acland has also agreed to put up a little piece I wrote about our fundraiser on ECW.

Back to Woodford.

Comment by market watchers and regulators suggest that the capital resilience of other Investment funds need examining 'they have been taking too many risks'...some say another bear market is signalled, since the closure of a fund to withdrawals against the backdrop of a bouyant market is unprecedented.

Quote from RobertBryant

For the CNZ the zirconium may contain trace elements.. Hafnium, Yttrium Yb... which the zircon ore is rich in.

As Russ says,'Nature doesn't do things in pure systems, one element at a time.'

I'm happy to help Ruby, she is a treasure and a great reporter.

Max Nozin

Bob Greenyer arrived at the Ohmasa lab in Japan yesterday, and is making videos/podcasts about the whole business. It starts here:-

For those that are interested, these are the current holdings in the Woodford Patient Capital Trust -well, the 'top ten' anyways.

Top 10 Holdings

Benevolent AI 8.53%

Autolus 8.14%

Oxford Nanopore 7.23%

Atom Bank 7.01%

Proton Partners International6.38%

Industrial Heat A2 Pref 5.74%

Immunocore A 4.90%

Oxford Science Innovations 4.0%

Industrial Heat A1 Pref 2.54%

Prothena Corp PLC 2.34%

And -selected quotes taken from 'Investment Trust Insider' - gathered at a fund managers annual dinner in London a couple of nights ago...

........ the serious topic that dominated conversations all evening. (was) what the hell is going to happen to Woodford Patient Capital Trust (WPCT) ??

On the one hand the suspension of the £3.7 billion Woodford Equity Income fund –while a shocking and worrying move for its many investors

gives investment trust folk an open goal in terms of highlighting the advantages of their ‘closed-end’ structures over their more numerous ‘open-ended’ fund

rivals. With their fixed pools of capital, investment trust managers are never forced to offload investments just because a lot of investors are selling their

shares, they proudly proclaimed.... And yet the same week has seen Patient Capital, a former flagship turned embarrassment for the sector, sink ever further

below its flotation price four years ago. This has left its mostly private investors nursing losses of nearly 40% if – like me – they bought the shares at 100p in the initial
public offer.

It seems a very long time ago now but in a much-hyped launch in 2015, Woodford raised what was then a record £800 million from his loyal army of
investors. The former star fund manager enthused his followers with a pledge to only charge a fee if he made them more than 10% a year from
backing Great British start-ups.
This week the already depressed shares shed another fifth of their value, tumbling nearly 21% from 77.5p to 61.5p. This leaves them standing at a
devastating 26% discount below their supposed net asset value....
...Bluntly, Patient Capital could be engulfed by a wave of selling by Woodford, if he is forced into a fire-sale of everything of value in his Equity Income
fund, smashing the prices of shares held by the investment trust in the process...Naturally, much of the talk between the City pros last night was

whether Patient Capital in its distressed state was a buying opportunity. One or two experienced investors I talked to believed the trust’s battering

was overdone and there might be more value in the portfolio than people gloomily assumed.

Overall, however, the mood was grim: the expectation was that the shares were likely to fall further and would probably need to be on an even bigger
discount to net asset value to be attractive. Such is the scale of the ‘haircuts’ many expect Woodford to take as he endeavours to sell big stakes in
early-stage companies such as Benevolent AI and Industrial Heat

https://scitechsyndicate.com/b…ws/what-is-nuclear-fusion

A new 'garage science in the community' project is launched.

This system is absolutely no good for cars- it is however ok for a truck and perfect for filling stations able to offer both hydrogen and electric re-fuelling. A ton of Aluminium 'fluff' ($200-300) and a ton of water produce the energy equivalent of 440 US gallons of gasoline as hydrogen energy, plus the equivalent of another 350 gallons as process heat. Around 8MWh total.

Quote from ZenoOfElea

Or failing that actually offer some for sale on the Guernsey International Stock Exchange, assuming anyone would be interested.

The brave thing would be for IH to buy them back at close to par, or if they can, persuade somebody else to buy them. That would prevent Woodford dumping them for a low price and thus devaluing the rest of the shares IH and family hold, after all, right now all they have is 'hope value'. And Hope is like Lady Luck, a fickle jade.

Back to Woodford.

Comment by market watchers and regulators suggest that the capital resilience of other Investment funds need examining 'they have been taking too many risks'...some say another bear market is signalled, since the closure of a fund to withdrawals against the backdrop of a bouyant market is unprecedented.

Quote from RobertBryant

I don't know whether the 1 nanometer separation is too far for this magnetic transfer to operate

Well, @wyttenbach's theory shows the magnetic fields- though at atomic scale to be extraordinarily powerful - so one nM or even more is not too far.

I agree. It's too early to say 'game over'. I suspect that this is a break while the players change ends.

More like 'Cold Fusion Then' I think this video of Ernest Rutherford in the 1930's a rather wonderful reminder of 'how things were'.

Then practise it in the pub.

Quote from Bruce__H

It must be a short memory. How would I know?

Just ask Matron.

Thanks Jed. Bruce knew that - or perhaps he has a short memory.

https://www.zerohedge.com/news…woodford-devastating-blow

'The shocking blocking of redemptions from Neil Woodford's, £3.7bn Woodford Equity Income Fund - after serial underperformance led to an investor exodus - is still sending shockwaves across the US asset management arena two days after it was first reported.

"I can’t remember anything quite like this" said Peter Walls, veteran manager of the Unicorn Mastertrust fund, after trading in Woodford's fund was suspended. "I mean going back over decades really, there were quite a few funds that just didn’t pick up the telephone and suspended dealing in the dark days of the crash of '87 and black Monday and all that but this is quite big stuff," he said in an interview with CityWire.'

Things nobody knew about hydrogen....

https://www.nature.com/articles/nature02910

,,,,,,,,,,,,,,,,,at high (but experimentally accessible) pressures, compressed hydrogen will adopt a liquid state, even at low temperatures. In reaching this phase, hydrogen is also projected to pass through an insulator-to-metal transition. This raises the possibility of new state of matter: a near ground-state liquid metal, and its ordered states in the quantum domain.,,,,,,,,,,,,,