Somewhat Interesting article on Woodford:
https://www.moneyobserver.com/…-woodford-patient-capital
Basically says that some big investors are buying in, as the fund is trading well below its Net Asset Value, ie you can get hold of their basket of shares for almost 20% cheaper than if you bought them all on an open market.
Also the point is made that: ‘It’s called Patient Capital, so quit your whining’.... Which is hard to argue with, really.
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And, in other news, I decided to completely reevaluate some recent contributions of one of our more ‘esteemed’ members - exploring the remote possibility that he might actually know what he’s talking about....
You and others might try reading why it is that IH's value appears to have increased. It is entirely meaningless and artifactual.
Inspired by the above quote, and following an evening hunched over a calculator, I have been able to revalue a company that I am director of, as being worth Several Million pounds! Yes, literally overnight!!!
Other shareholders weren’t to concerned about this - I assume - as they didn’t ask to see any audited accounts.
Or absolutely anything audited at all. Idiots. But then, it’s not like they are professionals with over 25 years of wealth management expertise. They love it, in fact, as they are now also rich, obviously.
Currently trying to decide on Ferrari versus Porsche GT, from the proceeds of my financial genius. Or maybe some exotic 2-stroke 500. Or maybe a Cypriot passport... Just to cover all eventualities. Potential prosecutions, whatever.
Thanks SOT!