Another Babcock warning, Another vindication for bear raider Boatman but does PR cock still taste good round at the Sunday Times?

Published 11 days ago

It started in October 2018. Boatman Capital published its first bear dossier on Babcock International (BAB) with the shares at 672p. After yet another dire warning today, the stock trades at just 215p and still looks overvalued.

Breaking: Ex fund manager Mark Denning wants ShareProphets to ensure you folks do not know about him - fascist lawyer's letter arrives!

Published 27 days ago

And so a fascist email from a lawyer arrives addressed to ShareProphets requesting that we remove content from our website. The email comes from a Spanish firm called Eliminalia which boasts that it is “dedicated to erasing the past. Our team deletes all the links that exist about your person or business one-by-one, if necessary, initiating legal action to achieve your desired results, thanks to our team of in-house attorneys.”. Orwell would love these bastards. The person paying Eliminalia to bully companies such as ShareProphets is former fund manager Mark Denning. Well Mark we will publish this correspondence in full so that more folks know about you. And to Eliminalia we will “see you in court bitchez!” So who is Denning?

2020 Tip Review: Tern plc (as a SELL)

Published 34 days ago

As we approach the end of 2020, it is time to take a look back at my Tips of the Year in the ShareProphets Christmas 2019 Tipfest. AIM-listed investment company Tern plc (TERN) was my first tip – as a sell, at 9.25p. So how have I done?

Former WPCT, Schroder UK Public Private Trust writes down £14m Ombu Investment to just £4m following transfer

Published 36 days ago

Oh dear, oh dear. Neil Woodford’s former Woodford Patient Capital Trust (WPCT) now under new management as Schroder UK Public Private Trust (SUPP) has announced this morning a 71% hit to its investment in Ombu, knocking £10 million off NAV. This follows the acquisition of Ombu by HP Environmental Technologies Fund (HPET), in which SUPP now has a stake.

Tom Winnifrith Bearcast: On this day of all days Sarah Willingham is 'avin' a Turkish! And who should star in my Christmas carol 2020?

Published 43 days ago

On Joshua’s Advent calender the shepherds go to Bethlehem. That is almost true, well a bit true as I discuss. In prior years I have penned a three part Christmas carol featuring a villain of the year: Rob Terry, Neil Woodford and Chris Oil have starred. So please nominate your villain of 2020 for this year’s opus magnus below. In the podcast I discuss the IPO of Sarah Willingham’s company Nightcap on a day when most of its bars go into tier 3. She is ‘avin’ a giraffe. There are other red flags and questions to ask. Then I look at Jubilee Metals (JLP) and Bahamas Petroleum (BPC) asking if, on AIM, anyone gives a toss about the law of the land. Finally I look at Dignity (DTY) where i retain grave concerns.

Intuitive Investments IPO – City pigs jump on the Covid and Healthcare bandwagon: smell the greed

Published 43 days ago

The time to invest in a sector is when everyone loathes it. Think oil earlier this year. The time to avoid it like the plague is when it gets so hot that crony capitalists float investment companies hoping that mug punters will overpay for shares in their vehicles which will then overpay for shares in actual companies. Meanwhile its snouts in the trough all round for the board and City advisers.

Hargreaves Lansdown: Either liars or incompetents

Published 47 days ago

A reader of this website who I have known for many years and who is a truthful and honest man is a client of Hargreaves Lansdown (HL).  Poor man. He was advised, falsely, by Hargreaves that if he wished to convert Golden Prospect subscription shares (GPS) into Golden Prospect ordinafries (GPM), he had to notify the company by 31 October.  Hargreaves then claimed, again falsely, that this date had been extended.

Rutherford Health (ex-Proton Partners, Woodford fave) – Interim Results…..oh dear!

Published 57 days ago

Aquis-listed Rutherford Health (RUTH), the former Proton Partners that Neil Woodford so merrily put his former fundholders on the hook to fund at a ludicrous price, has published its Interims to August 31 this morning. What a shambles!

Xeros Technology – Woodford dog argues “an important step” order. Is it?...

Published 62 days ago

A couple of announcements today from one of the many AIM dogs of Neil Woodford, Xeros Technology Group (XSG) – and the shares currently continuing something of a recent recovery…

Nanny State FCA bans certain Crypto investments, Good Germans at Hargreaves Lansdown accelerate ban

Published 67 days ago

A reader has been contacted by Hargreaves Lansdown (HL) about what is in his acount. No not units in Neil Woodford funds bought on the advice of Hargreaves as its own funds were selling out but certain funds invested in crypto currencies. The letter reads:

Stobart Group – its cheerio Aer Lingus

Published 71 days ago

Fully-listed former Woodford-favourite Stobart Group (STOB) has announced that Aer Lingus has not plumped for Stobart Air as preferred supplier for a new commercial agreement starting in January 2023. In other words, Stobart Air has lost the contract – hardly a helpful  development for Stobart Group as it seeks to offload its airline!

Time to Buy BP on a Biden Win?

Published 84 days ago

In a recent MoneyWeek article, entitled “Bargain Britain”, its writer Max King asserts:

Before the flood...is the AA the most embarrassingly prolonged takeover of 2020?

Published 86 days ago

So hello to a new lockdown in England from Thursday. I know technically it is a ‘lockdown lite’ but you can guess the likely impact on the more cyclical and lockdown impacted sectors come tomorrow’s markets.  But that is the markets for you.  We all know the voting machine investor is everything in the shorter-term…so I look forward to battling with opportunities and threats and considering whether to get greedier as others get more fearful. To be honest, I cannot see gold being displaced as my largest sector allocation.  

Tom Winnifrith Bearcast - breaking the border and back in house arrest Wales

Published 92 days ago

I did what 3 million Welsh residents could not do today and had a pub lunch. But I’ve broken the border and am back at the Welsh Hovel. I discuss my day, why I think Nigel is wrong on investing in residential property and ask why Link is being sued over Neil Woodford’s crimes yet he seems able to escape scot free.

Tern – the slide continues

Published 99 days ago

Evil Knievil always used to say that the best time to kick a man is when he is down. And so I return to AIM-listed jam-tomorrow, next year, never investment company Tern plc (TERN) where I see that the shares are once again down.

HL’s departing Mark Dampier sets the clock on the Gold Bull peak

Published 129 days ago

In some ways I feel a little sorry for Mark Dampier, as he sets sail into retirement from fully-listed Hargreaves Lansdown (HL.), his copy book indelibly blotted by exceptionally poor calls over Neil Woodford and, as Tom noted today, value crushing Tom Dobell of M&G. But it is not just Neil Woodford where I would have issues with HL’s recommendations, and that brings me to Gold.

Quindell-loving clown Tom Dobell “resigned” by M&G – another disastrous call by Hargreaves Lansdown

Published 129 days ago

To be fair to Tom Dobell, his first ten years running the M&G Recovery Fund were pretty spectacular. That was partly because the market tanked as he arrived and then bounced back. Corks, waves etc but still his record was impressive. Today that all seems a long time ago with news that he is being resigned at Christmas.

Eve Sleep – Interims from former Woodford dog pointing to a brighter future?

Published 133 days ago

Former cash-hungry Woodford dog, AIM-listed Eve Sleep (EVE) has released its interims this morning. On the face of it there is plenty to cheer but a deeper look still offers plenty to worry about for shareholders.

Comedy Central on the Tern BBs! Does this win Bulletin Board Moron of the Year?

Published 142 days ago

With a hat-tip to Temptress on our own highly intelligent comments board, you just couldn’t make this up! Last week the principal investee of AIM-listed POS investment company Tern (TERN), Device Authority (DA), filed documents at Companies House taking away B-share rights of what appear to be former employees. It seems that these former employees left the building some time ago, but DA’s paperwork has been such a shambles that it is only catching up now. So the BBMs decided it was a tidying up exercise and that therefore DA is about to be sold……£s, not pence.

Tom Winnifrith Bearcast: the stink of corrupt journalism and Jeff Prestridge and the shocking scandal at R4E

Published 156 days ago

Yes, it is corrupt to claim that with 60 articles a year you are chasing Neil Woodford when you were for two decades his greatest cheerleader on Fleet Street. Jeff Prestidge ignored ALL the warnings and kept on urging Mail on Sunday readers to average down on Woodford funds. He should hold his head in shame. He demands transparency over Woodford while I demand transparency from him so I have 4 questions the loathsome reptile will not answer. I also look at bent PR-led journalism at the Sunday Times ref BT (BT.) Then it is onto Reach4Entertainment (R4E) where the FCA and AIM Regulation should be all over the company, its CEO Marc Boyan, and chairman Lord Grade.

The AA & oh-so-clever hedge fund-style shareholders v. oh-so-clever private equity potential business purchasers...

Published 169 days ago

I have never owned or – to the best of my knowledge – written about AA plc (AA.). Briefly last decade I was a member before an alternative breakdown service was bundled into my bank account but I remember thinking it was a bit of a rip-off back then. Obviously some people (Neil Woodford) did not think it was a rip-off and built up a large double-digit percentage stake before having to admit it was yet another mistake…

Sensyne Health – “settles employment tribunal claim”, Red flags bingo?...

Published 169 days ago

A “settles employment tribunal claim” announcement from “clinical AI technology company”, Sensyne Health (SENS) including “as previously announced, Lorimer Headley, left the Board and the business on 2 March 2020. He made allegations against the CEO, Lord Drayson. The Board arranged for these allegations to be investigated by an independent law firm and they found that the allegations were not supported by the evidence”. So a favourable settlement for Lord Drayson and Sensyne then, surely?…

Itaconix – the latest bark from this Woodford dog...

Published 188 days ago

Self-styled “a leading innovator in sustainable specialty polymers”, Itaconix (ITX) has updated emphasising “Itaconix Grows Revenues 80% in First Half 2020”. But to what? And what about the bottom-line?...

Would you Adam’n’Eve it? Eve Sleep turns cashflow positive, so shares a buy, right?

Published 188 days ago

Ex-Neil Woodford dog, AIM-listed Eve Sleep (EVE), has this morning updated the market with a first half trading update for this year – the highlight being that it has been trading ahead of expectations and generated a first positive cashflow. So all’s well – time to pile in? Not so fast……

Tern – yet another fundraise, £1.5 million at 8.5p (21% discount)

Published 190 days ago

Well blow me down! AIM-listed jam-tomorrow POS Tern plc (TERN) has announced yet another fundraise, this time to raise £1.5 million at 8.5p. Given that the announcement came at 9am and the price just beforehand was 10.75p, that’s a 21% discount. Ouch.

The strangest beast on AIM that you’ve never heard of

Published 194 days ago

A Hat-tip to B for alerting me to a company I have never heard of. The strangest beast on AIM is not a beast at all; it’s a wounded animal that went into the COVID-19 crisis leveraged long emerging market currencies and equities. It’s a wounded animal that you’ve probably never heard of: APQ Global Limited (APQ).

Tern – an unhappy day at the office for Sith Lord Zak Mir

Published 198 days ago

I commented back on June 20^th on Zak Mir’s squiggles in the sand when he gave AIM-listed jam-tomorrow investment company Tern (TERN) the kiss of death, suggesting it could make it up to 18p per share. This, of course, was based on his charting analysis and not fundamentals. So how has he done?

Questions for EY (formerly Ernst & Young) ref Airbus

Published 209 days ago

EY - better known as Ernst & Young - is auditor to a few outfits covered here on ShareProphets. It ha had a bit of a run - think Wirecard, NMC Health, Finablr and so on. Some people might view the audit profession as the enabler of fraud, but surely these guys are only human and in that vein I offer up some questions in an open letter with regard to Airbus (EPA: AIR) 'cos I'm just a nice guy. Naturally, there will be hghly satisfactory answers to the questions raised and there is nothing wrong at all, but let's ask them anyway.

Crony capitalism in action: Pity the poor British taxpayer bailing out Versarien as Chinese walk

Published 209 days ago

It was in April last year that oily Neill Ricketts first announced that Chinese Investors were going to buy new shares giving them 15% of Versarien (VRS). The shares roofed it and he dumped vast amounts at 137p - today the shares are 42p. First it was BIGT, the CIGIU and finally YG, a newly established Hong Kong entity set up to source funds working with those other companies that had no websites or offices or phone numbers. Quelle surprise! Guess what?

Itaconix – I having previously warned, including of funding concerns...

Published 216 days ago

Previously writing on Itaconix (ITX), last month I noted with the shares at 1.55p Woodford dog updates including “increasing demand”, BUT... noting the context of “revenues for the first four months of 2020… an increase of 42% over the same period in 2019”, to… $0.6 million! and funding still only possibly until the end of August and concluding avoid / sell. Now…

Tern: Zak Mir wants a shorting article - how can I refuse!

Published 220 days ago

Squiggles-in-the-sand specialist and all round Good German, the Sith Lord Zak Mir, noted yesterday that his bullish comments on POSs on the AIM Casino tend to trigger bear articles on this fine website in his lead-up to comments on AIM-listed Tern plc (TERN). Well I don’t want to disappoint him….after all, as you all know, I’m all heart.

Criticism of Woodford fund sales: is it justified?

Published 222 days ago

The sale of a bunch of biotech assets by Link from the Neil Woodford portfolio which used to be known at his Equity Income fund has received criticism as the buyer immediately offloaded some of it at a massive profit. Surely that means those assets were sold too cheaply……or does it?

Notes from Underground - Most read articles for the week ending 13 June 2020

Published 226 days ago

The most read non-Tom article this week is Commercial property update: Intu's on standby, Workspace believes by Chris Bailey is at a thrilling number three or number nine including Bearcasts and Tom's new shareshow.

….And the good news is: Woodford biotech dogs sold

Published 233 days ago

Of course, the bad news is that the worst of them haven’t been sold and the buyer, Acacia Research, got a thumping discount. The news of the discount should come as no surprise to ShareProphets readers, as Tom Winnifrith, Cynical Bear and I have all warned of as much. And with the absolute dogs left over, there is surely more pain to come for Neil Woodford's motley crew of hard-up former investors into hs Equity Income Fund.

Stobart Group – Placing (as predicted) at 40p to raise £100m and FY results at no-one-is-watching o’clock

Published 234 days ago

Last time I wrote about former Woodford favourite Stobart Group (STOB), on April 6^th, I predicted a placing…..and so it came to pass that on Thursday night it did indeed pass the hat around – time for an Ouzo, methinks! And the discount? Well, the stock closed Thursday (at 4.30pm) at 69.2p, having traded as high as 74.1p and the bookbuilding exercise was announced at seven minutes past six in the evening. On the closing price, the discount was a whopping 42%. Ouch.

Forterra – “well positioned to take advantage of the attractive long-term market fundamentals”?

Published 237 days ago

Forterra (FORT) has updated including “since our announcement of 28 April 2020, we have been encouraged by a gradual increase in despatches as our customers reopened their operations” and that it “does not have any present intention to draw upon” the Covid Corporate Financing Facility for which it has been confirmed as eligible – and the shares have currently responded to 220p, 5.5% higher...

Purplebricks – Woodford overhang hitting the market: another reason to SELL.

Published 241 days ago

It was announced yesterday afternoon that Link Fund Solutions sold 0.52% of AIM-listed Purplebricks (PURP) on Wednesday. Why is this significant? Well, this is the stock overhang from the ex-Woodford Equity Income Fund (WEIF) and there is still 11.93% to go.

Time Out Group – I having noted scepticism as the company ‘reviewed its funding’…

Published 248 days ago

Previously writing on Time Out Group (TMO), in March I noted after placing only in October, former Woodford pick “will review its funding and ability to manage its cost base” – concluding with the shares a further more than 20% lower in response, at around 65p, still avoid / sell. Now a 4:06pm “Results of Placing and Notice of General Meeting”…

SUPP (former WPCT): Former Woodford Equity Income Fund dumps entire stake

Published 248 days ago

In its FY19 report and accounts, Schroder UK Public Private Trust (SUPP) – the former Woodford Patient Capital (WPCT) announced a NAV per share of 49.46p per share. With a hotchpotch of cash-guzzling investments, no income and an almighty overdraft, even before the impact of Covid-19 it was clear there would be casualties to come, and it largest holding was the joke that is Rutherford Health (RUTH) whose valuation is clearly absurd and only supported by Neil Woodford’s policy of overpaying, it was clear to us at ShareProphets that the stated NAV was a total fiction. Now the former Woodford Equity Income Fund (WEIF) has dumped its entire stake.

Tissue Regenix – I having warned of still a required fundraising ahoy...

Published 249 days ago

I first warned on shares in Tissue Regenix (TRX) in October as they fell below 3p and most recently above 1p earlier this month, noting still a required fundraising ahoy. Today an announcement; “Confirmation of successful fundraising”...

FREE Podcast: ShareProphets Radio Edition 29 with Tom Winnifrith - my Bidstack smearer will be getting letters regarding a legal claim for damages from 8 Parties

Published 250 days ago

I have no guests in this week's show which is sponsored by Open Orphan PLC (ORPH) where things look increasinly promising. Check out its new corporate presentation HERE. I start with events at Bidstack (BIDS) detailed in free to read articles HERE and HERE where one gender fluid shareholder will, I can reveal in this podcast, shortly be served by eight parties he defamed. That is 8 seperate libel cases he must fight. It should be ruinous. But why is Bidstack lying? I discuss. Then it is onto why shares in general are racing higher. Is that justified? I discuss the forthcoming Shareprophets Shares show on May 9 with its quite amazing speaker line-up. Book your ticket for 70 hours of amazing video content for just £9.99 HERE.  Then I look at why Versarien (VRS) also tried to bamboozle investors over the nature of its dealings with Rolls Royce (RR). If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast and enjoy our cracking writen exposes and analysis every day HERE.

Itaconix – Woodford dog updates including “increasing demand”, BUT...

Published 252 days ago

An announcement from Itaconix (ITX) including “as we continue to experience increasing demand for our detergent polymers, this funding will assist us with staffing levels to support growth in customer volumes” – and the shares currently higher at 1.55p...

Tissue Regenix – “New collaboration” announcement from this Woodford pick ramptastic?...

Published 260 days ago

An announcement from ‘regenerative medicine medical devices company’ Tissue Regenix (TRX) – and the shares currently above 1p, more than 55% higher. Though “New collaboration with leading healthcare company” ramptastic?...

Shares take a TERN for the worse as FY numbers are released

Published 266 days ago

AIM-listed jam-tomorrow Internet of Things investment company Tern plc (TERN) finally got around to releasing its FY19 numbers this morning, at 8.15am. To me, the numbers were dire – and the market’s reaction was to mark the stock heavily down: they are off by 25% as I write.

Itaconix – Woodford dog emphasises “Strong Revenue Momentum and Extended Funding”… but what’s the detail?...

Published 266 days ago

The previous update from Itaconix (ITX) was “Company Update on Funding and Business Plan”, on which the shares further slumped and I summarised Woodford dog in need of funding (natch) says “there can be no assurance” & considers AIM de-listing. Today from the company a different approach, with an announcement; “Strong Revenue Momentum and Extended Funding”...

Ouzo for Gabriel Grego & Tom Winnifrith as Akazoo (InternetQ as was) admits its a fraud - Martin Hughes at Tosca, I'm coming for you!

Published 269 days ago

Back in 2015 I demonstrated, without any doubt, that AIM listed InternetQ (INTQ) was a fraud. I doorstepped it in Athens. I crawled all over its bogus websites in Greece.  The Greek management and fund manager Martin Hughes of Tosca - a shareholder PA as well as via his fund - responded by taking it private. They then rebranded it as Akazoo and listed it on Nasdaq, Earlier this week Gabriel Grego again exposed it as a fraud. On Friday, the shares were suspended, the CEO fired and investors warned that ALL historic financials may be fiction. The SEC filing below is damning.

SUPPing at the cup of failure - former WPCT releases results

Published 270 days ago

Schroder UK Public Private Trust (SUPP) - formerly disgraced Neil Woodford’s Patient Capital Trust (WPCT) - has released its FY19 numbers and the report is truly a dog’s breakfast. It is a shambles: the manager has gone but the board should be sacked at once.

I kid you not Schroders thinks the former WPCT medium risk although it admits investors are CERTAIN to lose money!

Published 272 days ago

This is an amaingly honest yet utterly dishonest admission from Schroders which managesthe  Schroders UK Public Private Trust (SUPP), the dog formerly known as the Woodford Patient Capital Trust (WPCT).  It is also a damning indictment of the disgraced Neil Woodford. Schroders has published a new Key Information Document, a KID.

FREE Podcast: ShareProphets Radio Edition 28 with Tom Winnifrith a Coronavirus & stockmarket special

Published 272 days ago

I have no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). Instead it is just me discussing all things Coronavirus. My own views on the pandemic and on the Government's disastrous, GroupThink driven, response are well documented in a series of podcasts and a couple of articles on my own website HERE. my views are not the issue it is the economic and stockmarket fallout. I discuss the bubble led by stocks like Novacyt (NCYT) and why it MUST burst but also stocks to buy and why I am nervous of the market rally. If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast and enjoy our cracking writen exposes and analysis every day HERE.

Xeros gets funding away, the Covid bandwagon…...Should Bulls celebrate or Bears prepare the table?

Published 275 days ago

I take my hat off to Woodford dog, revolutionary washing machine maker (geddit?) Xeros (XSG). It closed Friday with a market capitalisation of about £6 million, according to ADVFN, and has just raised another £6 million without totally crashing the share price. In the current environment, that is quite an achievement – especially since the company has been a cash-burning dog all through its life. What might we learn?

Tom Winnifrith: Is Bidstack PLC involved with latest smear campaign against me? I report myself to FCA

Published 276 days ago

I have today reported myself to the FCA, on the basis of a smear campaign initiated by someone who appears to be close to Bidstack PLC (BIDS). I have asked the FCA to investigate in full the, demonstrably untrue accusations made against me, and also the extent, if any, of the involvement of Bidstack and its officers in this poorly constructed hit job.

Gold riding the crest of a wave – and there’s plenty more to come, as Hargreaves Lansdown misses another trick

Published 276 days ago

I see that our favourite technical analyst, Jordan Roy-Byrne of TheDailyGold.com is getting ever more bullish. Although he is a gold-bull, he is often rather dour in his opinions shorter term but it seems that the flood-gates have opened – not just with reference to his charts but with reference to anything to do with gold. More importantly, it seems that the big institutional money has finally started to arrive. Bank of America has slapped at $3000 target on the price of an ounce of gold over the coming eighteen months, well up on its previous forecast of $2000.

Want exposure to a Neil Woodford AIM dog? Today’s Primary Bid Offer closes at 3.30 PM but Cheryl Cole shows the way

Published 277 days ago

With other folks cash, Neil Woodford was a big fan. The company has missed all its targets to date. Even now, having belatedly slashed costs, Xeros (XSG), the company founded to disrupt the world of washing machines, does not expect break even until Q2 2022. What could possibly go wrong? I reckon there is more chance of me shagging Cheryl Cole by Q2 2022 than of this company reaching breakeven by 2022 but we shall see. Anyhow if you are tempted, not by Cheryl – that is a given - but by Xeros here is your chance.

Covid-19 will be the pin that pops the car and student loan bubble

Published 280 days ago

Another sub-prime lending crisis has been brewing in the US - and in terms of cars in the UK too -  in recent years, and it seems likely that Covid-19 will be the pin that finally pops the bubble.

Tern – rinse and repeat….again! Surely it is Placing Ahoy once more

Published 281 days ago

AIM-listed Internet of Things jam-tomorrow play Tern (TERN) has seen  its shares miraculously rise from a low point of just under 4p last month to (last seen) today’s mark of 8.5p. So has Tern offered up a big contract from one of its investees? Er……no! I do know Tern still needs more cash, and that the BBs are full of a progress update from investee Wyld suggesting big things. But of course, there has been no RNS from Tern – something we have seen before ahead of placings which I would argue were on the back of wild speculation which remained uncorrected by Tern. Is it happening again?

The Corrupt Deadwood Press: The Sunday Times on NMC and backing Easyjet’s board

Published 282 days ago

I have flagged up the corrupt nature of the deadwood press, and the Sunday Times in particular, numerous times on this website. The way it blew off Neil Woodford in return for “scoops" and again and again backs boards, who by dint of underperformance, are quite rightly under fire with dirty attacks on their critics is shameful. Babcock (BAB) is a case in point. Today the paper shows its true colours again with its coverage of NMC Health (NMC) and more especially, and shamefully, of EasyJet (EZJ).

BREAKING: Reabold Resources – Time for the Authorities to seek answers, letter to FCA

Published 283 days ago

I commented previously about Reabold (RBD) and the undisclosed recipient of 420 million shares handed over as consideration for the acquisition of Gaelic Resources Ltd and the large share transactions on 31^st January. Yesterday’s TR1 confirmed that Miton was not the seller. So that only appears to leave one option – the recipient of the 420 million shares. With no appropriate disclosures it’s time to write to the FCA – so I have.

Kerboom - Expose: Gervais Williams is doing a double Woodford, surely his ACD need to stop this

Published 283 days ago

Given the abject performance of the Miton Smaller Companies Fund managed by Gervais Williams, driven by a combination of utterly dire stock picking and mass redemptions, I have more than once suggested that Mr Williams has the potential to be the new Neil Woodford. But today I can reveal that Williams is performing a trick used by Woodford and it is one that his ACD and the FCA should be investigating with some urgency.

FREE Podcast: ShareProphets Radio Edition 27 with Tom Winnifrith, Cathal Friel of Open Orphan and 11 stocks to go to zero

Published 286 days ago

I have I guest in this week's show which is sponsored by Open Orphan PLC (ORPH) and it is the company's chairman Cathal Friel. I think I gave him a hard time on certain matters but I came away a very happy shareholder. I discuss Coronavirus and the market crash and why I would now be a selective buyer of blue chips right now. But i accept facts have changed and in that light I also cover 11 stocks which could well be zeros and I explain why. If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast and enjoy our cracking writen exposes and analysis every day HERE.

Stobart Group – Covid-19 update reeks of a placing in store: a bargepole on steroids

Published 295 days ago

Since Cynical Bear’s coverage of the Tinkler vs Rest the Board fiasco back in 2018 (when Tinkler and Neil Woodford lost), shares in Stobart Group (STOB) initially trod water and then went into a bit of a tailspin, closing 2019 at a shade over £1 a pop. But then Covid-19 struck: bearing in mind one of its two prime assets is an airport, it has been bad news ever since and the shares are currently just 50p. So what of today’s announcement?

BREAKING: The Gervais Williams Miton Small cap fund hurtles closer to precipice in March despite outperformance

Published 296 days ago

Every dog has its day. Even the Miton Smaller Companies Fund run by the new Neil Woodford, Mr Gervais Williams. In March it managed to lose just under 12% in value whereas the small cap unit Trust sector saw an average loss of c25%. So Gervais, for almost the first time in five years, beat his peers. But the absolute losses were compounded by yet more redemptions and, thus, the precipice of an FCA driven gating, draws ever closer.

Tissue Regenix – I having questioned what about the balance sheet of this Woodford pick?...

Published 302 days ago

‘Regenerative medicine’ medical devices company Tissue Regenix (TRX) has updated including that currently “the San Antonio facility remains fully operational” and the company “has not experienced any material reduction in net revenues versus expectations”. However, the shares have currently responded to below 0.40p, circa 35% lower…

SUPPing from Woodford’s cup as Link draws the hatchet again

Published 306 days ago

The dog’s breakfast that is Schroder UK Public Private Trust (SUPP) – formerly Neil Woodford’’s Patient Capital Trust (WPCT) has announced that Link is taking the hatchet to the portfolio net asset value once again. Oh dear……

Eve Sleep FY numbers: who would buy a bed now?!

Published 308 days ago

AIM-listed Neil Woodford dog Eve Sleep (EVE) released FY19 results this morning. My immediate thought is who would buy a bed right now, amid fears of Coronavirus, job losses and with the UK in near total lockdown? But these are last year’s numbers, before the invisible invader was around and it looks to me as though Eve will need even more cash, despite its laudy claims that the latest rebuild strategy has left the company operationally profitable. Let’s take a look at what that actually means……

Itaconix – Woodford dog in need of funding (natch) says “there can be no assurance” & considers AIM de-listing…

Published 315 days ago

I’ve consistently warned on Woodford “leading innovator” Itaconix (ITX) – most recently concluding earlier this month, with the shares then up to 1.70p, the latest ‘news’ conveniently timely? However, still facing the noted financing situation from a £4.6 million market cap, natch still avoid / sell. Today “Company Update on Funding and Business Plan”…

Time Out Group – after placing only in October, former Woodford pick “will review its funding and ability to manage its cost base”…

Published 316 days ago

Time Out Group (TMO) has updated including that “it is only in very recent days that we have observed any change in footfall to the Time Out Markets and delays to advertising campaigns”. Though now also…

When does Purplebricks go bust? Some maths for y'all

Published 316 days ago

We have warned about this Neil Woodford dog so many times.  Now, you may find this tasteless but I suggest that no-one in their right mind would actually buy a house right now as the grim Coronavirus reaper stalks this land. Do you want to have to sell your place with all sorts of strangers wandering around touching door handles, or more likely no-one wandering around? And why buy now when the grim reaper may well be freeing up a stack of houses and flats to come onto the market as a glut from anytime soon? Who has enough income security to take on a mortgage these days? This begs the question of when exactly will Purplebricks (PURP) go bust. Here is the maths.

As Finablr heads for zero, NMC now says it has found evidence leading to suspected fraud – and still the FCA won’t suspend Finablr!

Published 320 days ago

This morning saw a first partial ‘fess-up by Finablr (FIN) and the shares, as covered by Tom Winnifrith, duly collapsed yet again. But on good day to bury bad news, NMC Health (NMC) ‘fessed up yet again, saying that evidence leading to suspected fraudulent behaviour has now been found. Well quelle surprise, given that we were told two days ago that it appeared that some proceeds from undisclosed £2.7 billion of borrowing may have been utilised for non-Group purposes. In other words, it had been stolen!

FREE Podcast: ShareProphets Radio Edition 26 with Tom Winnifrith, bear raider Lucian Miers and the Versarien whistleblower

Published 320 days ago

I have two  guests in this week's show which is sponsored by Open Orphan PLC (ORPH) .I also discuss Coronavirus and the markets an d my own experiences as a (failed) whistleblower. My first guest is Petrick Abbott, formerly head of Versarien's US operations who sets the record straight on why he left and spills the beans on what is really happening, or not, at his old employer. Then I chat to Lucian Miers about the markets, his top 3 US shorts, Apple, NMC Health (NMC), De La Rue (DLAR), IQE (IQE), Tullow (TLW), Telit (TCM) and Versarien (VRS). I am walking 34 miles for Woodlarks with Lucian and others this June 13 and I  ask you to sponsor we rogue bloggers HERE.  If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast and enjoy our cracking writen exposes and analysis every day HERE.

The Biggest Neil Woodford folly: Rutherford Health Plc – the looming cash crisis

Published 323 days ago

This one company represents almost 20% of the gross assets of what was formerly WPCT and is now the Schroders run SUPP. It was a folly from the start and 1 big reason why Neil Woodford should be chucked out of financial services, now Rutherford International (RUTH), is, just a year after its IPO, fast running out of cash. I am not sure folks realise just how fast.

Tom Winnifrith Bearcast - oil price and coronavirus disasters ahead

Published 324 days ago

In today's podcast brought to you from Shipston I look at the oil price and what it means for a range of oil shares from the majors down to shitty little oil explorers on AIM. I then return to the coronavirus ex oil and with especial reference to Telit (TCM), Cineworld (CINE) and The Restaurant Group (RTN).. Finally I look at the proposed comeback of disgraced Neil Woodford.

Former WPCT, now Schroder UK Public Private Trust January update: gearing down (just) but at what cost as investors await another round of Red Pen

Published 326 days ago

Neil Woodford’s former Patient Capital Fund, now in the hands of Schroder under its new name (but not new performance!) Schroder UK Public Private Trust (SUPP) has released the January month-end update. Not as delayed at the 2019 year-end update which took almost two full months to appear), this is still remarkably late and it is easy to see why.

More dire news for beleaguered fund manager Gervais Williams (the new Woodford) – February data out

Published 326 days ago

Here is a question for you and the answer is not Neil Woodford although it could be. Who said recently that: “easy, positive trends for markets have lulled our clients into a false sense of security”. Hmmm might it be a fund manager whose flagship Smaller Companies Fund is down by 16.2% over three years while his peer group shows average gains of 22%? Yes indeed, it is the clownish Gervais Williams and data just out on his fund is, again, shockingly bad.

Woodford’s last gamble, Kier, releases interims

Published 327 days ago

I said many times that Kier Group (KIE) would be Neil Woodford’s last gamble and so it proved. Having been a heavy buyer all the way down from around £10 he threw every last penny he could muster as he always knew best. But he did not know best and this morning’s interims statement shows that even with new management on board there is a very long way to go before investors see anything like real profits and dividends again.

Itaconix – Woodford pick with “New Collaboration in Biodegradable Packaging”… so its potential financial impact?...

Published 328 days ago

Itaconix (ITX) “is pleased to announce… an important step for us to assess the commercial potential of our initial BIO*Asterix™ additives” – and the “New Collaboration in Biodegradable Packaging” titled-RNS has currently helped the shares to 1.70p, approaching 10% higher on the day…

KERBOOM: Tern – what about that tax credit to Device Authority?

Published 331 days ago

AIM-listed Tern plc (TERN) was one of my two tips of the year – as a sell – at 9.25p (mid). The shares are now just 7.25p  - down by 22% so I’m off to a very good start. But I want to ask a question of Tern regarding its ongoing loans and payments to jewel-in-the-crown investee Device Authority.

Notes from Underground - Most read articles for the week ending 1 March 2020

Published 331 days ago

Excluding ShareProphets Radio 26, the most read non-Tom article this week is Is it Better To be Short A Stock Promotion Or A Total Fraud? by, um,  TweetingCEO. No, I don't know who that is, either. He or she is in 7th place, or number 15 if you include Bearcasts.

NMC Health – the specialists in locking stable door after horse has bolted have stepped in

Published 333 days ago

Scandal after scandal, suspension, sacking the CEO, the CFO on extended sick  leave, a whole bunch of boardroom resignations, the admission that Muddy Waters was on the money but it is far worse and finally the chocolate teapots have woken up to the fact that there was something wrong at NMC Health (NMC).

FREE Podcast: ShareProphets Radio Edition 25 with Tom Winnifrith & Flip Flop Ben Turney

Published 334 days ago

My guest in this week's show which is sponsored by Open Orphan PLC (ORPH) is a former editor of this website Flip Flop Ben Turney. We discuss the problems with AIM, New World Oil & Gas, Nostra Terra (NTOG), touching on the mud being slung at Ben by some folks but on the real issues that company faces, on Touchstone Exploration, Big Sofa (BST) and many other matters, notably AIM PLC director expenses. I also discuss companies who switch Nomads too often. Yes that includes Versarien (VRS) and its forced change of today. If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Itaconix – Woodford pick again “pleased to announce”… I again wonder why…

Published 336 days ago

Itaconix (ITX) “is pleased to announce that it has received its first order from a second European customer for its Itaconix® CHT™ 122 bio-based detergent ingredient” – with the announcement currently helping the shares more than 4% higher…

Woodford Patient Capital Trust as was, year end data finally out and its diabolical & unreal

Published 337 days ago

For all the chatter from certain City folks with degrees in Chemistry, and others, about how a new name and a new management team would transform the fortunes of the Woodford Patient Capital Trust (WPCT), the belated release of the December 31 2019 factsheet shows what a diabolical mess the vehicle now known as the Schroders UK Public Private Trust (SUPP) is in. Is it beyond redemption? Have the City establishment stopped pretending yet?

B.P. Marsh and Partners – a buy

Published 339 days ago

“The latest published Net Asset Value was £130m, or 360.9p per share, as at 31 July 2019, which represented a 3% increase, or a 4.3% increase including the dividend paid in July 2019, for the six months ended on that date. From its inception in 1990 until 31 July 2019 the group has maintained an average annual compound increase in NAV of 11.7%. The group is expected to report a positive performance for the financial year ended 31 January 2020.” What price for this track-record, current performance and ‘focussed on taking actions to reduce discount to net asset value’?... Presently, a 268p offer price and thus…

Wellesley Finance - yet more mini bond red flags, it’s May Day at the Kremlin again!

Published 340 days ago

I last published an update about Wellesley Finance Plc on 7 January 2020 discussing the dire results for the year ended 31 December 2018.  The results of the Wellesley Group Investors Limited, the ultimate parent, for the year ended 31 December 2018 are now 4 and half months overdue so we cant evaluate how the whole group is performing. But there are yet more red flags now fluttering. the only thing we cannot say is when the car crash will happen.

FREE Podcast: ShareProphets Radio Edition 24 with Tom Winnifrith and the Dark Destroyer Matt Earl

Published 345 days ago

My guest in this week's show which is sponsored by Open Orphan PLC (ORPH) is my old pal, the Dark Destroyer Matt Earl. We discuss how a bear can make money in this market, Tesla (TSLA), NMC Health (NMC), Finablr (FIN), Burford (BUR), IQE (IQE) and in real detail Mark Slater, Sam Antar and Future (FUTR) in the wake of Matt's bombshell dossier of last week. If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Notes from Underground - Most read articles for the week ending 16 February 2020

Published 345 days ago

Excluding ShareProphets Radio 24, the most read non-Tom article this week is ITM Power – a great 5 bagging share tip... but where’s the share price going now? by Peter Brailey for the second week. He's off the leaderboard at #11 or #18 if you include Bearcasts. 

Itaconix – Woodford pick with financial woes with another “pleased to announce” RNS...

Published 349 days ago

I previously wrote on an announcement from self-styled “leading innovator (and thus, natch, a Woodford pick) in sustainable specialty polymers”, Itaconix (ITX) less than a month ago. However, it has already since announced “Introduction of New Detergent Polymer”, “New BIO*AsterixT Product Line” and today “New Supply and License Agreements with New Wave” – the latter currently seeing the shares at 1.50p, up more than 7% on the day…

BREAKING: Panic stations for Gervais Williams, Miton Small cap deluged by redemptions in January

Published 351 days ago

No wonder Premier Miton has been so tardy in updating the market. It has emerged today that the Gervais Williams Smaller Companies Fund was deluged with redemptions in January on a scale which must beg the question of whether it will, Neil Woodford style, need to be gated.

Tom Winnifrith Bearcast: the nature of fraud, the answer to fraud and Neil Woodford's latest woes

Published 352 days ago

I write by a candle. I have no power here in Wales and am using my mobile to access the internet and it is dying. So I must be brief, it is Neil Woodford and fraud on the agenda today.

Tissue Regenix – a “pleased to confirm” re. cyber security incident, but still what about the balance sheet of this Woodford pick?

Published 357 days ago

Shares in ‘regenerative medical devices’ group Tissue Regenix (TRX) are currently approaching 20% higher on the day, at around 1.20p, on the back of an update including “it is anticipated that delayed orders will be dispatched over the coming weeks… All processing in the company's United States facility has also resumed with immediate effect”…

FREE Podcast: ShareProphets Radio Edition 23 with Tom Winnifrith and Lucian Miers

Published 359 days ago

My guest in this week's show which is sponsored by Open Orphan PLC (ORPH) is my old pal, the Godfather of my son, the Bard of the Boleyn, Mr Lucian Miers. We discuss how a bear can make money in this market, Tesla (TSLA), Versarien (VRS), NMC Health (NMC), Rogue Bloggers for Woodlarks (please do sponsor us HERE), AFC Energy (AFC), Vast Resources (VAST), Finablr (FIN) and much more including a few of Lucian's top US shorts.  I also have a question about those who invest in frauds and who harass me and my family. If you are such a troll maybe you can enlighten me? If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Tern – portfolio update: but what about the Elephant in the room, Device Authority?

Published 363 days ago

AIM-listed jam-tomorrow (or never…) investment company Tern plc (TERN) has updated the market with a portfolio review. The news seems good (a big contract for one investee and a fair investment for another) but the elephant in the room is its investment in Device Authority Limited – on which we learn precisely nothing. Worse still, apparently Tern now has a genuinely diversified portfolio of…. companies, with each……having a disruptive technology in a global market. Oh dear: it's that word again, 'disruptive' – has the board not heard of what happened to Neil Woodford?!

Tissue Regenix – from bad to worse for Woodford investors here…

Published 364 days ago

An announcement from Tissue Regenix (TRX), a Woodford pick (uh oh), at an intra-day 10:02am (uh oh); “Notice of cyber security incident”. Oh dear! – and particularly considering the company’s previous announcement included that it only “believes that the available cash runway will continue to support the working capital requirement of the company until the end of April 2020”!...

Funding Circle – CFO “to step down” (& why the omission of company performance data?)

Published 365 days ago

Its shares already down from a 440p 2018 IPO price to little more than 80p, now a “Directorate Change” announcement from SME loans platform company Funding Circle (FCH) – and the shares further down, towards 78p…

FREE Podcast: ShareProphets Radio Edition 22 with Tom Winnifrith on the subject of lying from the Daily Mail to five cited CEOs

Published 366 days ago

There are no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). It is just me once again sitting in the Welsh Hovel. As I note in the podcast the reason why I think Open Orphan is such a good company with undervalued shares is explained HERE. In part one I look at corporate lying citing a number of different examples and why some lies matter more than others, some are red flags but not killers others are investment case killers.  Then I offer up a number of macro reasons to be very cautious on all asset classes this year. Do not believe the idea that Bojo will usher in the roaring twenties. He got my vote but that is tosh..If you like this podcast and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Link in the frame as the shadow of Neil Woodford still looms over his old Patient Capital fund

Published 366 days ago

The shadow of disgraced fund manager Neil Woodford still overhangs the Woodford Patient Capital Trust (WPCT), now renamed Schroder UK Public Private Trust (SUPP), as a line in the sand approaches fast. Of course, the same applies to Link which still seems to be the formal fund manager which appears to have been happy to sign off on any old rubbish to bolster the fund’s official NAV.

Notes from Underground - Most read articles from the page week and I rant pointlessly about Craft Beer

Published 366 days ago

Chris Bailey's article Has Fevertree (FEVR) completely lost its fizz? by Chris Bailey (spoiler alert: it's the top non-Tom story) made me think about the wider drinks industry.

Tissue Regenix – “Trading Update” from this former Woodford pick, so natch…

Published 370 days ago

A “Trading Update” from Woodford stock Tissue Regenix (TRX) – and the shares currently around 1.40p, down (natch!) approaching 20%...

Eve Sleep Trading statement - still bargepole material

Published 371 days ago

AIM-listed former Neil Woodford doggie favourite Eve Sleep (EVE) has offered up a trading statement. On the face of it the news appears favourable, with cashburn slashed by 51%, the EBITDA (bullshit earnings) loss heavily reduced by 43% and £7.8 million of cash in the bank at year-end. We are also told that the company reached break-even at an operating level in the last four months of the year. All good, but is there yet another fundraise around the corner?

Terry Smith slates Neil Woodford & Hargreaves

Published 373 days ago

Terry Smith's funds were not recommended to its clients by Hargreaves Lansdown (HL). Those of Neil Woodford were. Of course, that was noting to do with the fees Hargreaves received from the two forms. No, not at all. In his annual newsletter the great Smith has slated Woodford. There is nothing that should surprise ShareProphets readers but it is all good stuff. Smith opines:

Itaconix – Woodford “leading innovator” considers “a healthy sign of an effective collaboration is”… termination!

Published 375 days ago

Updating on Woodford “leading innovator” Itaconix (ITX) last week as the shares fell further to 1.55p, I concluded with the cash crunch ahoy funding situation also now from a market cap heading towards £4 million, natch still currently avoid / sell. Now “Termination of Chelates Agreement”…

The 10 most followed stocks on ADVFN – proof of where the morons roam

Published 378 days ago

The only shock here is that Versarien (VRS) and Bidstack (BIDS) don’t make the list. But I kind of bet they are in the top 20. However the top 10 are in order:

Former Woodford favourite Mereo Biopharma: they marched it up to the top of the hill……

Published 378 days ago

……And they marched it down again. Woodford dog-pick extraordinaire, Aim- and Nasdaq- listed  Mereo Biopharma (AIM: MPH, Nasdaq: MREO) announced what appeared to be good news yesterday, sending the AIM-listed shares up from 33p as high as 45.5p before they fell back down to 38p at the close yesterday. Meanwhile the Nasdaq stock put on around 48% at the peak, before giving up almost the entire gain to close up just 7%. The news was not so good after all!...

Notes from Underground: The most-read articles and Bearcasts this week, and those Telegrams are a sign of trouble

Published 380 days ago

Oh dear, ShareProphets has exposed Versarien rampers getting all excited in private chatrooms. I suspect that this is going to be something we get to mine for quite awhile until the deadwood press catches on. 

Itaconix – “Trading Update”… but why doesn’t it detail the loss & cash burn from this Woodford “leading innovator”?

Published 383 days ago

Itaconix (ITX) states it is “pleased to announce” a trading update for the 2019 calendar year and CEO John R. Shaw that “the acceleration in our revenue growth reflects growing commercial validation and consistent progress with customer projects across all of our products and application areas… our pipeline continues to strengthen as we maintain our focus on accelerating key revenue opportunities in the first half of 2020”. The shares have currently responded to 1.55p – er, 6% lower…

Itaconix – argues significant milestones… but beware of what’s another of Neil Woodford’s ‘leading innovators’…

Published 384 days ago

Former Woodford pick, Itaconix (ITX) has followed a “First order to Croda for new odour control polymer” announcement yesterday with a now “New patent issued for detergent compositions” and these have helped the shares up from a prior 1.525p to currently around 1.7p – although down (natch, for a recent years Woodford pick), for example, from more than 4p at the commencement of 2019 and approaching 16p at the commencement of 2018…

Tom Winnifrith Bearcast: smiley face, smiley face, smiley face - the new form of RNS from Versarien

Published 385 days ago

In today's podcast I look at mini-bond scandal house Wellesley Finance and why it once again shames new Bank of England Governor Andrew "asleep at the wheel" bailey and the shitheads round at the FCA. I comment on another of its failings in light of today's Neil Woodford News. I comment on Big Dish (DISH), have a theory about Angloa African Oil & Gas (AAOG), comment on Optibiotix (OPTI), Versarien (VRS) and ask how long its Nomad will tolerate Neill Ricketts and finally on Aston Martin Lagonda (AML).

Woodford Investment Management files accounts… £14 million reward for failure

Published 385 days ago

What does not stink in the annual accounts for Woodford Investment Management which surfaced at Companies House yesterday? The £14 million dividend paid to Neil and his business partner Craig Newman surely is top of the list but then there are the dates…. Let me explain.

AIM Market – another year of decline: fewer companies in total but more bad ones among them, the real data...

Published 386 days ago

The statistics for AIM for December 2019 show that the market contracted to 863 companies its lowest number since 2003.  The real concern for the LSE should be the shockingly low number of new listings a derisory 23, the lowest number of new issues ever since the market as formed in 1995.  The quantum of new monies raised was also very low by historic standards at £489 million and this figure is not adjusted for the impact of inflation.

Oxford Nanopore – anyone for a haircut, Neil Woodford?

Published 388 days ago

Last week saw the announcement of a fundraise by former Woodford investee Oxford Nanopore. The headlines were that £110 million had been raised but in fact only £29.3 million will go to the company. The rest was share sales by existing holders – including the former Woodford funds and IP Group, but the details so far seem to be shrouded in mystery. However, the maths for the former Woodford funds looks awful – which may explain the lack of detail offered up so far. Meanwhile, Oxford Nanopore’s cut of £29 million won’t last it very long and I suggest another funding round must be on the cards before the summer.

2019 performance update: start of year shorted AIM shares

Published 390 days ago

Early in 2019 we showed the Shorted AIM shares at the start of 2019. How did they perform? (those in bold remain from 2018)...

The ShareProphets share tips of the year 2020 - No 19 a buy from Tom Winnifrith

Published 390 days ago

During the first seven days of Christmas each of the team will serve up two share tips (buys or sells). I will serve up 4. That makes 20 in total. Enjoy our share tips of the year 2020. Nineteenth up is a BUY from myself, Tom Winnifrith. I  own shares in the company below.

FREE Podcast: ShareProphets Radio Edition TWENTY ONE with Tom Winnifrith - what does it mean to generate cash, fake & real claims

Published 391 days ago

There are no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). It is just me once again sitting in the Welsh Hovel as the flood waters rise. I start with a red flags special on Iconic Labs (ICON). The company is an irrelevant and wofrthless POS but the red flags are interesting. Then it is onto a company where I demonstyrated compelling red flags six years ago but I've had to be patient. Finally, using Fulham, Shore (FUL) as a case study I look in real detail at why claims that company's generate positive operating cashflow can be so misleading and why this is so important.If you like this and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

The fifty most-read articles and fifty most-listened-to Bearcasts of 2019

Published 391 days ago

This is quite possibly the most successful year for ShareProphets sccops and stories. Julie Meyer, Neil Woodford, those wacky wonderkids at Burford—didn't we all have a fun year? Here are the stories and Bearcasts that moved your fellow ShareProphets members. Of course some folks think it is not worth £5.99 to catch all these market moving articles and exposes...

ShareProphets readers tips for 2019 competition results... And the winner is...

Published 391 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like), the following is the final results (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM casino and the stocks not to have been suspended at the commencement of 2019 – as is similar for this year’s competition HERE). For 2019, the winner is...

The ShareProphets share tips of the year 2020 - No 16 a sell from Lucian Miers

Published 392 days ago

During the first seven days of Christmas each of the team will serve up two share tips (buys or sells). I will serve up 4. That makes 20 in total. Enjoy our share tips of the year 2020. Sixteenth up is a SELL from Lucian Miers who is short of the shares in the company below.

Notes from Underground: The most-read articles and Bearcasts this week, plus the major stock markets compared against the US

Published 393 days ago

Before we get to the most-read articles and listen-to Bearcasts of the week, let's look at how the worlds indexes did againts the S & P. Oh, dear.

The ShareProphets share tips of the year 2020 - No 7 a sell from Nigel Somerville

Published 396 days ago

During the first seven days of Christmas each of the team will serve up two share tips (buys or sells). I will serve up 4. That makes 20 in total. Enjoy our share tips of the year 2020. Seventh up is a SELL from Nigel Somerville who has no position in the company below.

2019 Christmas Eve "Bury Bad News" Sweepstake result

Published 397 days ago

Having been visited by the Ghost from Christmas Past I got a bit confused and befuddled over the deadline for this year’s ShareProphets Bury Bad News Christmas Sweepstake. Since then, of course, I’ve seen a few more ghosts, including the one for Christmas Present and the bury bad news sweepstake certainly threw up a good few of those (for non-shareholders). So who won?

A final £15 million Christmas kick in the bollocks from Neil Woodford to unit holders

Published 398 days ago

Merry Christmas Neil Woodford. Having made c£100 million from Woodford Investment Management you are planning a new Chinese venture as those Brits who backed you lick their wounds and count their losses. You are a crook, a spiv and should be in jail and facing a lifetime ban from financial services. If folks were not angry enough already, at 11.41 AM on Christmas Eve came another £15 million kick in the gonads. Cheers Neil, seasons greetings to you, your wife and your array of show jumping ponies.

Another Gotcha for the Sheriff of AIM: Anglo African Oil & Gas forced to ‘fess up

Published 399 days ago

Following my article yesterday morning HERE, Anglo African Oil & Gas (AAOG) was forced by its Nomad into a full ‘fess up. And the admissions are damning.

Gervais Williams & the Miton Smaller Company Fund – what was he thinking?

Published 399 days ago

The fact that the Miton Smaller Companies Fund has collapsed in value by around two thirds since the start of 2018 is pretty remarkable. It must be a real embarrassment to City grandee Gervais Williams who runs the fund.  But his real shame should be in how the money was lost.

BREAKING: Anglo African Oil & Gas from Bad to Worse but a sack the board GM call on the way

Published 400 days ago

Having parted company with toxic David Sefton and Lyin’ James Berwick could things get any worse for Anglo African Oil & Gas (AAOG). With cash very tight and the Fat Lady already gargling in the wings surely not? Well actually yes.

Tom Winnifrith Bonus Bearcast: Link cover up for Neil Woodford, The Sunday Times sucks PR (Bab) Cock again & is Miton Small Cap in deep merde?

Published 400 days ago

Almost entirely recovered from illness, this bonus Bearcast covers the latest shocking news in the great establishment cover up for disgraced Neil Woodford, The Sunday Times sucking PR (Bab) Cock as the man behind Boatman is revealed and the Miton Smaller Companies Fund of Gervais Williams. Its performance is dire and redemptions are vast, is it in really deep merde or just very serious trouble?

Dividend Munchers – December update

Published 401 days ago

So Boris romped home in the General Election and the markets had a Boris Bounce. But how has my little portfolio of Dividend Munchers done?

So It’s Goodbye to Mark Carney, Hello Andrew Bailey of the scandal-hit FCA

Published 403 days ago

Andrew Bailey, head of the scandal-ridden FCA, has been named as the new Guv’nor of the Bank of England, replacing Mark Carney of ‘Project Fear’ infamy from next March. Apparently he is steady under fire, which I suppose is a good attribute although given that he has been steady under fire over at the FCA in the face of scandal after scandal essentially because the FCA was asleep at the wheel with regard to Neil Woodford, the mini-bond scandal and a host of other slippages (not to mention sloppages) it would perhaps be better to appointment someone who does not offer a history of self-inflicted wounds.

Thursday Caption Contest: Neil Woodford wants to make China rich edition

Published 404 days ago

Following news that disgraced and shamed Neil Woodford, wants to open up a new business in fraud ridden China I invite you all to supply a suitable caption for the pic below in the comments section. The deadline for entries is midnight tonight.

Tom Winnifrith Bearcast: hat tip to Jim Mellon & Henry Freeman gets a blast for his Godless nonsense

Published 404 days ago

FFS it is not Season's Greetings but Happy Christmas. Please do not wind me up with any more Godless messages. Thanks to Jim for flagging up what should be a parody, but sadly is not, Neil Woodford's next business venmture. The I look at Bidstack (BIDS), NMC Health (NMC) and Circassia (CIR), two of which are surely good bets for bankruptcy in 2020. 

Verseon: Another Woodford Dog goes to the great kennel in the sky

Published 404 days ago

This morning yet another AIM cancellation was announced: that of Neil Woodford uber-dog Verseon (VERS). Having failed to raise cash from a placing, failed in its bid to jump on the crypto-currency bandwagon and having failed with its fatally flawed proposal to do a sale-and-leaseback of its headquarters because that would have left the company with no cash, no income and no assets, shareholders voted through its AIM cancellation as from 7am this morning.

Neil Woodford Dog RM2 to be fork-lifted off the AIM Casino at last

Published 405 days ago

There is no doubt in my mind that disgraced Neil Woodford’s revolutionary pallet company RM2 (RM2) should never have got anywhere near the AIM Casino and through keep-the-lights-on refinancings (largely paid for by Neil Woodford with other peoples’ money) it should have been removed a long time ago. But Neil needed the listing as he tried (and failed) to keep within his 10% proportion of investments  unlisted limit so despite protestations from within, the AIM listing continued. Well, this morning it is all over bar the shouting.

FREE Podcast: ShareProphets Radio Edition TWENTY with Tom Winnifrith: Fake valuations, sectors thare are dead or all hot air, Versarien & more

Published 408 days ago

There are no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). It is just me sitting in the Greek Hovel. I start with the Election, move on to the odd events at Versarien (VRS), sectors deemed to be scorching hot and others where death is not yet discounted. I look at fake IPO valuations and consider a possible case of securities fraud on AIM. If you like this and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Bury bad News on Election results day: Woodford Patient Capital changes name and extension of bank facility

Published 409 days ago

Friday lunchtime is hardly a time to issue news for people to notice and doing it on election results day suggests that there is bad news being buried. And so Woodford Patient Capital (WPCT) announced it was changing its name to Schroder UK Public Private Trust (SUPP) as of Monday to reflect the appointment of Schroders at manager, replacing the disgraced Neil Woodford who is off to count his piles of cash from running the Woodford funds into the ground. The company also announced an extended banking facility – and it is here that the bad news lies.

Woodford favourite Allied Minds: some change, but enough?

Published 411 days ago

Neil Woodford thought his investments into Allied Minds (ALM) would do wonders for his reputation…..it is just that the wonders weren’t quite in line with his expectations – they were more in line with ours! Yesterday morning Allied served up the departure of co-CEO Mike Turner as of March next year and the Chairman, Jeff Rohr, the following June. Rats, sinking ship anyone?...

Tom Winnifrith Bearcast: win 1/2 litre of Greek Hovel olive oil on election day & a personal challenge to Justin the Clown

Published 415 days ago

On today's podcast I discuss Brokerman Dan, the Tory canvasser and the half way house for heroin addicts. I issue a podcast challenge to Justin the Clown as I discuss the joke Vox IPO, I look at a pathetic deadwood press ramp for Woodford Patient Capital Trust (WPCT) and offer up another reason to shut down all open ended property funds. And i have a prize contest for election day, deadline to enter is Monday midnight.

Time Out Group – former Woodford pick argues trading ‘encouragement’… but it’s an EBITDA warning…

Published 418 days ago

Time Out Group (TMO) commences a trading update with that it “is encouraged by the early trading of the five sites opened in 2019” and concludes that it “remains on track to reach the key milestone of profitability in 2020”. The shares are though currently below 125p – a few percent lower on the back of today’s update…

November performance update: start of 2019 shorted AIM shares

Published 419 days ago

Early this year we showed the Shorted AIM shares at the start of 2019. How's the performance at the end of November? (those in bold remain from 2018)...

FREE Podcast: ShareProphets Radio Edition NINETEEN with Tom Winnifrith on how housebuilders can collapse, the three top AIM overpromotes and the Appbox scam

Published 420 days ago

There are no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). It is just me and I start with the idea of it's too good to be true at Intu (INTU) and that leads me on to look in some detail at the compelling bear case against all the housebuilders and what that means for other sectors and for you and me. Then I look at the 3 most overpromoted stocks on AIM, Bidstack (BIDS), Versarien (VRS) and AFC Energy (AFC), the common themes and why shares in all three will eventually collapse. But there is a warning for the bears too. Then it is onto the up to £15 million Appbox Media, One True View scandal I exposed this week HERE. If you like this and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Woodford Dog Eddie Stobart Logistics – DBAY updates proposals as Woodford funds sell

Published 421 days ago

It was reported at the weekend that Neil Woodford’s funds' previous holding in AIM-listed Eddie Stobart Logistics (ESL) was sold at just 6p per share – as against the 70p suspension price. That should give a measure of the trouble Stobart is in, and also a measure of Woodford’s failure here. This morning DBAY updated on its proposals, presumably in response to noises from the competing Tinkler camp, as it tries to take control and rescue the outfit, and Tinkler has responded...

Tom Winnifrith Bearcast: Happy Advent, Jeff Prestridge you are a charlatan and should be fired

Published 422 days ago

In today's bearcast I reflect on the start of Advent which I miss in Wales and on its start here in Kambos Greece. I look at pay at the big accountants and what it says about the sanctions against such folk when they screw up. Then it is onto Neil Woodford's biggest cheerleader in the press until recently, Jeff Prestridge of the Mail on Sunday and his demands for action against the guilty parties in this scandal. Jeff misses out two of the guilty parties and misses the point on the rest.

ShareProphets readers tips for 2019 competition – end November update

Published 423 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is an update on performance as this year’s competition enters its final month (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

Eddie Stobart Logistics – Tinkler’s alternative refinancing gains momentum: will the board respond?

Published 424 days ago

For all his past history at Stobart Group (STOB), having come second in a battle for its boardroom, Andrew Tinkler’s proposed refinancing of Stobart’s former subsidiary and now AIM-listed Eddie Stobart Logistics (ESL) seems to be gathering momentum. Yesterday it was announced that he already seems to have the proposed £70 million rescue funds in the bag – although the board of Eddie Stobart seems a tad reticent...

ShareProphets Election coverage: Vote Labour says Woodlarks walker & Fleet Street Legend Brian Basham

Published 425 days ago

Over the next week or so we will run articles by supporters of the three main parties in Britain urging you to vote for their party. If you are some SNP supporting sheep molester or cottage burning Taffy and want to bleat about not having your say, tough. This is about parties that are serious across the UK ....and also the Lib Dems. Our first contributor is my old pal Brian Basham, a lifelong Labour supporter who writes:

FCA bolts mini bonds stable door months after horse bolts with hundreds of millions of pounds of investors money

Published 426 days ago

Whatever next will the ever proactive FCA think of? Perhaps it might warn folks about the dangers of investing in Neil Woodford managed funds. I suppose better late than never. Very late in the day, the chocolate teapots are acting on mini-bonds.

Woodford dog Eddie Stobart: former boss Andrew Tinkler offers up a lorry-load of (other peoples’) cash

Published 427 days ago

Yesterday came bad news for shareholders in AIM-listed Eddie Stobart Logistics (ESL) in that Wincanton pulled out of making a rescue offer. Today we learn that the former boss of Eddie Stobart Limited is offering an alternative rescue plan to the one from DBAY which would surely leave the existing equity almost worthless. Apparently the Tinkler deal is considerably more advantageous to ESL's shareholders and also its lenders and that his company, TVFB, believes that operating margins and growth as per the levels when Tinkler stepped down as CEO can be restored. So that’s alright then!

Tom Winnifrith Bearcast: Hey Citigate you journalist smearing mothers, it's your fave journalist calling from Greece

Published 427 days ago

I have now arrived at the Greek Hovel, photos here. In today's podcast I discuss the pitiful way Sam Smith of FinnCrap (FCAP) blames Neil Woodford for the state of AIM. For once I defend the disgraced fund manager. I look at Eurasia Mining (EUA), I3 Energy (I3E) and also at Fastjet (FJET), a company that uses journalist smearing Citigate to polish its turds. The Eurasia podcast I refer to which should now be looked at by AIM Regulation is HERE

Tom Winnifrith Bearcast: On a PE of 3 the shares are cheap says the Sunday Times. Bollocks

Published 429 days ago

On my last bearcast before I flee to the Greek Hovel (cue calls from Bulletin Board Morons that I live in a hovel as I am a peasant and that I am evading justice for some crime or another), I discuss today's chapter of retail-aggedon (Clarkes), the Neil Woodford Rutherford International (RUTH) £32.5 million black hole and why Amigo (AMGO) is almost certainly not on a PE of 3 and almost certainly not cheap.

74% of readers reckon I've got a chance with Cheryl and West Ham can win the Premiership

Published 430 days ago

Or maybe I am just misreading the data?

FREE Podcast: ShareProphets Radio Edition EIGHTEEN with Tom Winnifrith: stick another bird on the board to cover up that fraud

Published 431 days ago

There are no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). It is just me and I start with the tale of Lyin' Chris Cleverley, the lying fraudster cousin of Tory Party chairman James. Lyin' Chris runs listed companies and there is no doubt he is a liar and a fraudster so why has the FCA not acted? Then it is onto PureCircle (PURE) a billion dollar fraud, where after six years, myself and Lucian Miers are utterly vindicated. I invite you to read its 2018 annual report and despair at the woke world of best practice in corporate governance. If you like this and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Reader Poll on FCA & SFO (in) action – which will happen first?

Published 431 days ago

It is quite clear that regulators in this white collar crime infested land are useless. Yesterday I flagged up a £12 million and increasing boiler room operation in the City of London that the authorities will do nothing about. So just for fun which of the following will happen first:

Time Out Group – former Woodford pick argues new Markets opening follow early “success”. Hmmm…

Published 431 days ago

Time Out Group (TMO) “is pleased to announce that Time Out Market Chicago opens”, a week after being “pleased to announce that Time Out Market Montréal opens”. These, and Miami and New York (May) and Boston (June) before them, are noted to be “following… success… Time Out Market opened in 2014 in Lisbon” – and the shares have recovered to a now 126.5p. Was Woodford - albeit eventually, for the wrong reason and at a lower price - still correct to sell?...

Tom Winnifrith Bearcast: Michael Infante of One Media insults the 106 other genders, what a fecking dinosaur

Published 433 days ago

In today's podcast I must on another call from a spiv urging me to invest in medicinal cannabis. I look again at AFC Energy (AFC) and its joke valuation and at One Media (OMP), its strategic review and its CEO with his shocking views on gender and I discuss how Verseon (VERS) shows, again, the greed and folly of Neil Woodford.

Xeros Technology – this Neil Woodford dog completes fundraising… for less than it wanted & with pitiful director participation…

Published 433 days ago

Xeros Technology (XSG) has updated commencing; “Following completion today of the placing and open offer announced on 31 October 2019 in which certain members of the board participated at a price of 1p per ordinary share, the company provides the following update regarding the holdings of the directors:” – and the shares have currently responded higher, back above 1p…

Vindication 2, Verseon – Neil Woodford dog to leave AIM, his investors losing 99%+ in 10 months, announces bonkers plans – are the directors on Acid?

Published 433 days ago

`Curiouser and curiouser!' cried Alice (she was so much surprised, that for the moment she quite forgot how to speak good English); `now I'm opening out like the largest telescope that ever was! Good-bye, feet!' (for when she looked down at her feet, they seemed to be almost out of sight, they were getting so far off). `Oh, my poor little feet, I wonder who will put on your shoes and stockings for you now, dears? I'm sure I shan't be able! I shall be a great deal too far off to trouble myself about you: you must manage the best way you can; --but I must be kind to them,' thought Alice, `or perhaps they won't walk the way I want to go! Let me see: I'll give them a new pair of boots every Christmas.'

After whacky placing, is AFC Energy the biggest short on AIM? It must be close…

Published 434 days ago

I want to get in there before my colleagues and flag up that the valuation of the ramp du jour AFC Energy (AFC) is absurd and that the company is drowning in red flags. Reading some of the Bulletin Board posts this smells just like Cloudtag although obviously it is not a Norfolk. Natch. I want to makle that clear.

Tom Winnifrith Bearcast: Plutus Powergen commits market abuse AGAIN as it goes down the pan

Published 434 days ago

In today's podcast I look at the British Journalism Awards and Neil Woodford ( no shocks here folks), Union Jack Oil (UJO) and that planned placing, Tissue Regenix (TRX) as the FD walks, FastForward Innovations (FFWD), and at Plutus Powergen (PPG) , dire news and surely looming insolvency and yet more evidence of not gviving a flying wotsit about stockmarket rules.

Xeros Technology – open offer a near bust; another Neil Woodford pick heading for ‘washout’?

Published 434 days ago

Having listed on AIM in March 2014 at 123p per share, Xeros Technology (XSG) recently announced it “proposes to raise approximately £5.0 million before fees and expenses by a placing... an open offer to raise up to £2 million before expenses… at an issue price of 1 pence per share”! As Nigel Somerville noted, it another rescue bailout fundraising for what had been styled as a ‘revolutionary’ (this time in the world of washing machines) – and thus, natch, Neil Woodford was a major investor. Now “Results of Open Offer”…

Tom Winnifrith Bearcast: I apologise you might not be morons you might be criminals instead

Published 435 days ago

In today's podcast I look at Brady (BRY), Westminster Group (WSG) the dog run by disgraced former Tory MP Tony Baldry of 3DM infamy, Inspirit (INSP), Koovs (KOOV), Neil Woodford dog Verseon VERS) where it must surely be almost lights out time and at IQE (IQE).

Notes from Underground: Last week's most popular stories and a horrifying chart on the world's debt

Published 436 days ago

This chart, from Visual Capitalist, visualises the debt the countries of the world hold. Now, I'd be the first to say that if you issue your own currency, then so what? But you may beg to differ. 

Always back the debt markets over equity markets

Published 437 days ago

The value of any asset traded in any volume is determined by the price at which buyers and sellers are prepared to transact. So for some surprisingly large companies where the liquidity ( lack of) or some other reason means there are no institutional investors, or trades, the share price is thus largely determined by private investors, many of them untrained in analysis and some of them full blown Bulletin Board Morons.

FREE Podcast: ShareProphets Radio Edition SEVENTEEN with Tom Winnifrith: why only mugs invest in junior mining & oil stocks

Published 438 days ago

There are no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). It is just me and I start with a phone call from a young man urging me to buy a cannabis stock. Then I look at why you are bound to lose money in junior mining and hydrocarbon plays. Finally I discuss the Golden Rule of Investing: Don't buy shares that are almost certain to go down. If you like this and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Neil Woodford Disaster of the day 3: Kier – trading in-line (i.e. grim) and the rats are leaving the sinking ship

Published 438 days ago

Today’s AGM at Kier (KIE) will not be a jolly affair. There is no update on planned disposals. The ghost in the room is the absence of Mr Neil Woodford the expert catcher of falling knives and the shares now trade at less than 90p, down from 800p a year ago and 1400p three years ago.

Tom Winnifrith Bearcast: Lucky Lord Lucan don't bludgeon the Angus share price to death, it's time to 'fess up

Published 438 days ago

In today's podcast I look at two utterly absurd proposals from Labour on broadband and on Inheritance Tax. Insanity. I also warn No Gold that he better get his £50 ready for me on December 13. Then I look at Angus Energy (ANGS), Optibiotix (OPTI), Neil Woodford disasters Kier (KIE), Eddie Stobart Logistics (ESL) and Non-Standard Finance (NSF). Then at Veltyco (VLTY) which is clearly insolvent. 95p to 1.5p in two years, thank God it had a female CEO to demonstrate the benefits of boardroom diversity for some of that period. Incidentally that CEO Ms. Blau earned 220,000 Euro for just seven months work so did a great job of closing the #GenderPayGap.  Rejoice! Rejoice!

Neil Woodford disaster of the day 2: Non-Standard Finance “moderating” targets & warning on profits. Ouch!

Published 438 days ago

In August Nigel Somerville noted that Neil Woodford will be reading the half-year results of Non-Standard Finance (NSF) – which he put his weight behind in its takeover battle with the rather larger Provident Financial (PFG), which he also owns. But NSF lost that battle and this morning Neil learns that the whole exercise cost it £12.7 million. Those results at least though also emphasised “whilst macroeconomic uncertainties remain, the group remains resilient and well-placed to meet its objectives”. Today a “Trading Update”…

Neil Woodford disaster of the day 1: Eddie Stobart refinancing via 25% interest rate loan, equity almost worthless

Published 438 days ago

Eddie Stobart Holdings (ESL) still sees its shares suspended as the company can still not get its half year accounts bottomed out and published but a rescue plan today may well see the shares slung off AIM and the nature of the mega high interest loan injection makes it clear the equity is almost worthless. Well done Neil – this was a major holding in the Income Focus and Equity Income Funds.

Tissue Regenix – “very pleased” lender has “shown their support for the company”. Really?!...

Published 439 days ago

Earlier this week I noted on Tissue Regenix (TRX) a further nightmare for shareholders including (natch) Neil Woodford investors – that with the company set to fail a financial covenant test and thus having to discuss with a weak hand - with also its latest results having shown it heavily loss-making with net cash down to £4.3 million - with loan facility provider MidCap Financial Trust. Now though Executive Chairman John Samuel reckons he’s “very pleased that Midcap have shown their support for the company by entering this revised agreement” – and the shares have responded further higher above 1p…

Silence Therapeutics – how’s “transformational deal” partner? Red flags really fluttering?

Published 440 days ago

Having as recently as June been sub 50p, shares in self-styled “a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases” Silence Therapeutics (SLN) spiked above 100p in July on the back of announcements of a collaboration with, and investment from, Mallinckrodt (NYSE - MNK). The shares have in the last month sparked significantly further – to a current near 400p, giving a more than £300 million market cap. However…

The curse of Neil Woodford: Eddie Stobart Logistics – tentative rescue offer from Dbay suggests 80%+ wipeout for shareholders

Published 440 days ago

A media leak has forced Eddie Stobart Logistics (ESL) to admit that it has received a tentative refinancing proposal and it is one that suggests an 80%+ wipeout for shareholders, notably lucky holders of funds formerly managed by disgraced Neil Woodford.

FCA Staff engaged in theft and shitting on floor as investors get hit by scandal after scandal

Published 441 days ago

The Evening Standard has got hold of a shocking memo from the Financial Conduct Authority's chief operating officer Georgina Philippou in which she said she was “appalled about the incidents of bad behaviour towards our building and colleagues.” It gets better...

Tom Winnifrith – the 10 most overvalued stocks on AIM

Published 441 days ago

Yesterday Waseem Shakoor’s top six stocks from the AIM Cesspit which he thought set to crash were revealed HERE. That seems to have annoyed a fair few folks on the Bulletin Boards so, on that basis, I thought I’d offer my top ten stocks to crash. In no particular order:

Tissue Regenix – a further nightmare for shareholders including (natch) Neil Woodford investors…

Published 442 days ago

Last month I noted on Tissue Regenix (TRX), the nightmare continues for Neil Woodford investors! – that with the company updating “revenue for 2019 will be below current market consensus by approximately 15% to 20%, with a corresponding reduction in margin impacting EBITDA” and I noting the recent results showed it heavily loss-making with net cash down to £4.3 million and near the top of the shareholders list was Woodford Investment Management (before stock transfer as it goes to toast – the latest notification showing Link Fund Solutions with 19.98%)! Now “Update in relation to loan facility”…

BREAKING Analysis Neil Woodford AIM dog Mereo Pharma, another body blow – insolvent by end January

Published 442 days ago

For some reason, Britain’s most disgraced fund manager held this AIM dog in his Equity Income Fund though the chances of it paying a dividend made my chances of getting lucky with Cheryl Cole look like a nailed down sure fire certainty.  Today there is another body blow, clinical failure, but the real issue, if you do the maths, is looming insolvency.

Tom Winnifrith Bearcast: Is Darren a drug crazed fiend? Jeff Prestridge sinks to a new low as he shames journalism ( as does the Sunday Times) over Woodford

Published 443 days ago

I start the podcast discussing legalisng cannabis, I cover the idea of investing in it HERE. Then I look at coverage of disgraced Neil Woodford in the Sunday Times and in the Mail on Sunday c/o Jeff Prestridge. Mr Presstrip has sunk to a new all time low and both papers cast a stain on an entire profession.

Notes from Underground: Last week's most popular stories and I respond to a reader about cannabis

Published 443 days ago

Last week, ShareProphets reader Mark Smith tore a strip off of me for my blasé attitude towards cannabis stocks and drug legalisation. I mean, read that comment: Mr Smith thinks I'm basically Pablo Escobar with a laptop. 

FREE Podcast: ShareProphets Radio Edition SIXTEEN with Tom Winnifrith: 5 companies that have lied to or misled investors & on a repented sinner, what was he to do?

Published 445 days ago

There are no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). It is just me and I start with yet more repentance from me. Sorry if this is boring and repetitive but some folks just dont seem to get it. Then onto what the General Election means for investors. Finally a look at 5 companies which have lied/misled by act or ommission or just committed plain fraud and the common thread that links them all, well nearly all. If you like this and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

So how would Ed Croft & Stockopedia rate mystery Business A

Published 445 days ago

Having called the mega fraud Quindell (QPP) out as one of the 10 cheapest stocks on AIM and rated the fraud that was Globo as a 92/100 mega buy, the Stockopedia system of Ed Croft is obviously brilliant. Right now Ed is claiming his system predicted the Neil Woodford collapse. Of course it did not but after the event it should have/could have/might have. It is not quite the same as I explained HERE. So here is a clincher for Ed - how would his system assess the worth of mystery company A?

eve Sleep: Woodford dog “Change of Auditor” – why? (still less than 30 months after listing)

Published 446 days ago

Eve Sleep (EVE) has announced “following a competitive audit tender process carried out by the company, the board has approved the appointment of Smith & Williamson LLP as the company's auditor for the financial year ending 31 December 2019”. The shares have currently responded slightly further lower to 2.75p – ‘further lower’ as they were approaching 14p early this year, 66p as recently as the end of June 2018 and 101p per share on May 2017 AIM listing! Almost natch, with such a record, this is also a Woodford dog...

October performance update: start of 2019 shorted AIM shares

Published 446 days ago

Early this year we showed the Shorted AIM shares at the start of 2019. How's the performance at the end of October? (those in bold remain from 2018)...

Rutherford International – the £100m scale of the Neil Woodford catastrophe emerges

Published 447 days ago

Rutherford International (RUTH) formerly Proton Partners has today published interim results showing a £51 million black hole and the scale of this Neil Woodford disaster which will eventually cost his investors c£100 million.

Tom Winnifrith Bearcast: Hey Ed what scandal are you going to "predict" next? Bernie Madoff? Enron?

Published 448 days ago

I start and end with a request that each Bearcast listener backs the Woodlarks Christmas appeal. Even £2 each and we'd be there. So go on donate now HERE. Then it is onto reports that the stricken Woodford empire may be selling £500 million of healthcare stocks. But at what price? Then it is onto how Ed Croft of Stockopedia, the company that flagged up mega fraud Quindell as one of the top 10 AIM stocks to buy, is claiming to have "predicted" the Neil Woodford scandal. Of course it did not but no doubt this persuades more folks to sign up to Ed's flawed system.  Then I crow as I discuss Nanoco (NANO) which I called out as long ago as 2015 and discuss where next for Bahamas Petroleum (BPC) as its open offer flops.

Tom Winnifrith Bearcast - Forgive me while I point out how fecking clever I am - ref Defenx

Published 449 days ago

On today's podcast I look at Defenx (DFX), Big Dish (DISH), ask whether Mothercare (MTC) is heading for 0p, comment on  Versarien (VRS), Kier (KIE), Petra Diamonds (PDL), Egdon Resources and other UK onshore oilers, frackers or not and at Woodford Patient Capital Trust (WPCT)

Woodford Patient Capital Trust breaches bank covenants after another huge asset write-down

Published 449 days ago

After a massive writedown in the carrying value of Industrial Heat was imposed on Woodford Patient Capital Trust (WPCT) today, the company is almost certainly more than 20% geared and thus technically in default on its bank loans. It has hyet to 'fess up but you can do the math...

Tom Winnifrith Bearcast: Bruce Dickinson is not the heir to Wordsworth but does not deserve to lose £45m

Published 450 days ago

I start with the tale of the lead singer of Iron Maiden and the UK's crazy divorce laws, then a few words on the shrinking Tory poll lead and what that means. Then two things that really alarm me about Micro Focus (MCRO) and then onto the Neil Woodford blame game and the damage being done by those trying to deflect from their failings in this scandal.

Kier debt on offer at 70%? What does that tell you about the shares?

Published 450 days ago

According to the Sunday Telegraph, debt in, drowning in debt and liabilities Neil Woodfird favourite, Kier (KIE) is now being touted around for sale at 70 pence in the pound. So what does that tell shareholders? In short: panic!

Notes from Underground: Should ShareProphets go global?

Published 450 days ago

After you have looked at the most-read articles and listened-to Bearcasts this week, answer me this question. How much foreign market companies would you like to see ShareProphets cover, in particular US, Europe, Oz, etc?

Legal Vultures circle at Hargreaves over the Neil Woodford scandal - Roger Lawson nails it, dont throw good money after bad

Published 451 days ago

Roger Lawson of ShareSoc is bang on the money with his comments on plans to sue Hargreaves Lansdown over its shocking behaviour in pushing clients into Neil Woodford's funds.  In essence his conclusion is to be wary of throwing good money after bad.

ShareProphets readers tips for 2019 competition – end October update

Published 452 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

Tom Winnifrith Bearcast: ref the photo below, questions, questions & more questions for Versarien

Published 452 days ago

In today's podcast I look at the news for Neil Woodford dog Xeros (XSG) and what it says about the company, its new Nomad and Broker FinnCap (FCAP) and about the hapless auditors at Grant Thornton Leeds. Then with reference to the photo below it is questions, questions, questions for shameless share ramper Neill Ricketts and Versarien (VRS)

Xeros - revolutionary washing machine rinses Woodford away: placing at just 1p but shares down to 0.93p. Grim Reaper time.

Published 452 days ago

Neil Woodford Uber-dog Xeros Technology (XSG), the great man’s revolutionary washing machine outfit, announced a rescue bailout placing at just 1p at almost lights-out yesterday – 3.46pm, just two minutes after announcing the appointment of FinnCrap as its Nomad and Sole Broker. Times must be really tough for FinnCrap, I guess any retainer will do when you have bills to pay. But forget's Finncap's abandonment of claims that it only acts for quality companies, the real story here is that the losses for Neil Woodford’s former investors at WEIF and WPCT are staggering – and now look set to hit 100% as the stock is trading below the placing price.

Crest Nicholson – another Neil Woodford disaster, but there is good news from The Ghost from Christmas Past

Published 453 days ago

An RNS this morning of a Strategic and Trading Update from fully-listed Crest Nicholson (CRST) brought bad news for investors: a volatile trading environment has seen full year earnings guidance chopped and although we are promised the 33p dividend is still expected to be met, it is only for the current financial year – and then only if trading conditions do not further deteriorate significantly. But there is good news for Woodford investors - well the former ones, at any rate.

Aussie poltroon ambulance chasers Slater & Gordon to take on Hargreaves over Woodford

Published 453 days ago

There are some contests where you want everyone to lose: The FSA vs ISIS vs Hezbollah in Syria, the Democratic primary once Tulsi Gabbard pulls out, a tournament involving the English rugby team and the German and Argie soccer teams. You get my drift. And that brings me to Aussie ambulance chasing lawyers Slater & Gordon (SGH) of Quindell infamy. I have a word of advice for S&G.

FREE Podcast: ShareProphets Radio Edition FIFTEEN with Tom Winnifrith: 4 things Panorama missed on Woodford and 4 massive red flags at Bidstack

Published 454 days ago

There are  no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). It is just me and I start with the 4 massive misses in this week's Panorama on Neil Woodford. Then, bracing myself for massive trolling, I explain to shareholders in Bidstack (BIDS) how broker research actually works and why they should sell all their shares NOW! If you like this and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

Tom Winnifrith Bearcast: a PE of 3 and some Brexit bollocks, don't be fooled

Published 454 days ago

In today's podcast I look at the looming General Election, at a pathetic excuse from Hargreaves Lansdowne (HL.) for not commenting on Neil Woodford, at Sound Energy (SOU), the ramp du jour Euraisia Mining (EUA), at the scandals at Tern (TERN) and Big Dish (DISH) and what they say about the institutionally useless FCA and AIM Regulation and at the profits warning from Empressaria (EMR). 

Tom Winnifrith Bearcast: More on that Big Dish "rollout" as St James customer scams exposed

Published 457 days ago

In today's bearcast I take forward yesterday's work on the Big Dish (DISH) "rollout" with some comments on its operations in Bristol. I look at Mothdercare (MTC) and Addison Lee, two firms whose time has gone. I look at attacks on fund managers who underperformed Neil Woodford and ask if those attacks are fair and at new ways St James Place (SJP) is shown to be ripping off its customers and what that means for shareholders in this unethical enterprise. 

Notes from Underground - Thanks for the pageviews, Panorama

Published 457 days ago

It's pretty gratifying that Will Panorama credit the folk who exposed Neil Woodford on Monday: here are our top 50 exposes since 20 is the number one story this week. The Panorama effect has been slow, but real, in increasing readership to ShareProphets. 

BREAKING: Big Dish – the real numbers on rollout are shocking

Published 458 days ago

Anyone buying shares in Big Dish (DISH) is off their rocker at two levels, notwithstanding the appointment of my good friend, the Sith Lord Zak Mir as the company’s PR man. Firstly, as I discussed here, is the fact that it is prepared to tell manifest industrial scale lies to investors. Secondly…

Tom Winnifrith Bearcast: to that bimbo at Walbrook PR who objects to me calling her (not by name) a bimbo, well you are one darling

Published 459 days ago

I start by explaining why this bimbo who complained about me in public last night really is a bimbo and why her firm is in no position to complain. Then I look at why Rathbones let down my Aunt Lucy by giving her Woodford exposure - chaps you really need to sign up to a certain website. Then a look at how to value IP Group (IPO) and Woodford Patient Capital Trust (WPCT) and changing manager changes little. Finally I look at the mad woke world of Synthomer (SYNT) as it served up a warning today.

Buy2LetCars.Com – another high yield investment accident regulated by the FCA waiting to happen

Published 459 days ago

After mini bonds & Neil Woodford where do we think that the chocolate teapots at the FCA financial watchdog will be asleep at the wheel next?

EXCLUSIVE: Damning New report IP Group at 62p, true NAV 40p, target price 28p ahead of bailout placing

Published 459 days ago

Neil Woodford may have dumped his shares in IP Group (IPO) at 53p a few weeks ago but he collaborated closely with the company and its fortunes are in many ways tied into the scandal involving the man the Mail on Sunday, until recently, called Britain’s Buffett about once a fortnight. IP shares now trade at 62p but what are they worth? I commissioned resting fund manager “The Badger” who previously explained why, irrespective of who manages it, WPCT is worth only 3p a share, to produce a report. His  work is below.

Itaconix – Woodford dog ‘showing the potential and value of using smart partnering’? Er…

Published 459 days ago

Having only on Wednesday announced “Introduction of New Odour Control Product Line”, ‘sustainable specialty polymers “leading innovator”’ (so - despite that description self-styled - natch Neil Woodford was a key investor) Itaconix (ITX) has now also announced “Expansion of Croda Supply and Joint Marketing Agreement”…

EXCLUSIVE SHOCKER: Disgraced Neil Woodford and his latest £25 million windfall that he will try to hide: Here's how

Published 459 days ago

How much more shame can disgraced ex fund manager Neil Woodford cope with? As investors consider losses of billions we believe the man the Mail on Sunday lauded for years as Britain's Buffett is working to cover up another £25 million windfall for himself and business partner Craig Newman.

Neil Woodford uber dog Verseon – uh oh, comedy shit show

Published 460 days ago

Yesterday Neil Woodford backed AIM listed uber dog Verseon (VERS) announced the sale and leaseback of its HQ in Fremont California, bringing in a net $9.5 million which would still have left it insolvent. Today, uh oh the deal is off. This is a shit show of the highest order.

WPCT to become Schroder UK Public Private Trust as Susan Searle plays the patriotic card and Neil leaves the building

Published 460 days ago

Shareholders in Woodford Patient Capital Trust (WPCT) were this morning invited to celebrate as Susan Searle announced the appointment of Schroders to replace the disgraced Neil Woodford as manager.  There will thus be no need for Neil to work out his notice period following his "trresignation" last week.

Tom Winnifrith's Bearcast: From Nigel Somerville's Big Sofa it is au revoir to an emigrating Darren + Woodford's secret £25m windfall

Published 460 days ago

A day of travel adventures. I recount my breakdown last night, an angelic lorry driver and how I ended up on Nigel Somerville's sofa. Meanwhile Darren Atwater is leaving the UK but not ShareProphets. Then I look at utter lunacy from a "woke" FRC and inept Business Secretary Andrea Loathsome. Then it is onto Neil's sacking from Woodford Patient Capital Trust (WPCT), what it means for the Trust and how it will help him hide another £25 million personal windfall gain. I cover Tesla (TSLA) as the bears are squeezed by book cooking. Finally a look at the murky death spiral announced by Vast Resources (VAST).

Tom Winnifrith Bearcast: the greed, folly and borderline criminality of Neil Woodford exposed again

Published 461 days ago

I start by re-explaining to a monkey why the dogs he lies down with really are covered in fleas, then it is onto Big Dish (DISH) and why it is just 100% uninvestable. Finally it is Verseon (VERS) which has today shown itself a case study in how Neil Woodford put his interests ahead of those of his unit holders with a most disatrous call. PS target price for its shares is 0p by Christmas.

BREAKING: AIM-listed Neil Woodford Dog Verseon – polishes calamitous news but it looks like toast

Published 461 days ago

AIM-listed Woodford dog and wannabee computer-generated drugs developer Verseon (VERS) has announced the sale and leaseback of its headquarters in Fremont, California. It says the sale will provide working capital but in case the $34.7 million price tag looks like good news, it is most certainly not. This is a calamity and by my calculations Verseon could be technically insolvent even upon completion.

Itaconix – a new product line… but beware it’s another of Neil Woodford’s ‘leading innovators’!

Published 461 days ago

Itaconix (ITX), ‘a sustainable specialty polymers “leading innovator”’ (so, despite that description self-styled, natch Neil Woodford was a key investor), has announced a new product line – emphasising “our rapid response and development show both our customer focus and the strength of our proprietary technology platform”. Hmmm…

Forterra – “Trading update” from this former Neil Woodford pick – so take a guess…

Published 462 days ago

A “Trading update” from bricks and other masonry products manufacturer Forterra (FORT). This was a recent years Neil Woodford pick – and so take a guess of how trading’s going…

FREE Podcast: ShareProphets Radio Edition FOURTEEN with Tom Winnifrith: The A to Z of the Rise and fall of Neil Woodford

Published 462 days ago

There are  no guests in this  week's show which is sponsored by Open Orphan PLC (ORPH). it is just me, at the end of a momentous day in the world of financial services. First up I discuss Thomas Cook (TCG) and grandstanding by limp dick MPs, executive greed, the failings of NEDs and fund managers and the heroin that is debt. Then the vast bulk of the show is devoted to Neil Woodford. What went right and what went wrong and why? Why the FCA is cuplable and why Woodford should go to jail. What were the warning signs everyone bar this website ignored? Who else is to blame? Why Hargreaves Lansdown (HL.) must be broken up. What will happen to each of the 3 vehicles Woodford was fired from or quit yesterday and how much cash investors wil get back.If you like this and can't wait seven days for more of the same  and are tired of being a cheapskate you should listen to my Bearcast every day.

One chart that shows the true failure of Neil Woodford CBE better than any other

Published 462 days ago

This one chart shows the true failure of Neil Woodford better than any other.

After the Woodford scandal...how is the house of Hargreaves Lansdown looking?

Published 462 days ago

I have written recently about St James's Place (STJ) and its toxic culture but it is time to think about a company with potentially even bigger problems...and that is Hargreaves Lansdown (HL.)...

Tom Winnifrith Photo Bearcast: Bonkers Chris Frazer of Sirius at it again, reflections on Panorama, UKOG and Cheryl Cole

Published 462 days ago

As you can see below, Joshua watched Panorama on Neil Woodford avidly. He liked seeing me but had a major gripe. I reflect on the show. I look at the bonkers boss of you cannot be Sirius Minerals (SXX) and at his company and then on to the latest "news" on Horse Hill from UK Oil & Gas (UKOG) and, yes, Britain's most talented chanteuse is relevant.

Will Panorama credit the folk who exposed Neil Woodford on Monday: here are our top 50 exposes since 2015

Published 462 days ago

I see that Roger Lawson of ShareSoc is today praising the FT's coverage of Neil Woodford. How sad and predictable that the establishment engages in mutual masturbation rathing than seeking the truth. The FT is the paper that publisshed a blow job interview with Woodford as recently as April 2019. Of course Roger is not mentioning our work in his little read blog posts or praising the folks who called this one out with more than 1000 articles and podcasts since 2015. But I hope that the BBC does recognise who was Woodford's nemesis on Monday. In case it has forgotten here are our 50 most read articles on the ex fund manager

Plutus Powergen: it gets worse: shock boardroom bust up but no insider dealing, of course!

Published 463 days ago

On Friday 18^th October shares in Plutus Powergen (PPG) started to tank. By pure coincidence, we discovered today that its only credible director who had industry expertise, the Chief Operating Officer Paul Lazarevic, quit by email. Nothing to see there officer, no insider dealing as this is the AIM casino, this is all just a strange coincidence no need to check out the share trades, move along swiftly please.

EXCLUSIVE: Disgraced Neil Woodford vetoed delisting of RM2, source

Published 463 days ago

A source has come forward to Deputy Sheriff Towers in relation to the Woodford catastrophe that is AIM-listed (for now) RM2 (RM2), the maker of disruptive non wooden pallets. Firstly, I am told that RM2 was forced to list when everyone at the company knew it really was not ready: the product (those revolutionary trackable pallets) was still in development and the company was still guzzling cash. But roll forwards to 2016/17 when it had run out of cash and needed yet more funding, and a proposal was put to delist and take the company private – which was vetoed by Neil Woodford.

Central banks everywhere are running out of ammo...

Published 463 days ago

The world’s financial system is more stretched, unstable, and dangerous than it was on the eve of the Lehman crisis, says the IMF...

Tom Winnifrith Bearcast: Jeff Prestridge must stop pretending, should fess up to his own Woodford sins and he's not the worst offender

Published 464 days ago

In today's podcast I come clean on tomorrow's Panorama on Neil Woodford and then look at today's dishonest and disgusting coverage of Neil Woodford in the Sunday Telegraph, Mail on Sunday and, worst of all, The Sunday Times.

Notes from Underground: Mapped - Cryptocurrency Regulations Around the World

Published 464 days ago

This regular Sunday feature of the most-read articles of the week has fallen to number 42, so I have pulled out my go-to feature to pull it up for next week: a charticle about cryptocurrency.

Neil Woodford out-of-cash dog Verseon – proposed sale of HQ buried in AGM notice: the Grim Reaper approaches

Published 465 days ago

It is surely now only a matter of time before this AIM-listed Woodford Dog is taken out and shot as an act of mercy. Out of cash, piled up with bills to pay, with no income, a failed ruse to play the crypto-currency game and with benefactor Neil Woodford now out of play, AIM-listed revolutionary drugs-from-a-computer generating machine Verseon (VERS) has announced it is looking to sell its HQ, the research, development and operations facility in Fremont, California. There is a slight snag, however, in that it is already mortgaged. What will the forced seller get for it?

Tom Winnifrith Bearcast: Chris Frazer of Sirius is the bears' best friend

Published 465 days ago

I start with a look at who might be sued in the Neil Woodford scandal, focussing in on the directors at Woodford Patient Capital Trust (WPCT). Then I lookl at another mini-bond disaster, this time involving Kevin McCloud of Grand Designs. Finally I discuss the latest deranged thoughts and acts of Chris Frazer of Sirius Minerals (SXX0 as he ponders an AIM (sorry main market) delisting. Timber!!!! He is, again, the bears best friend.

If it sounds too good to be true….which brings me back to Versarien

Published 465 days ago

On the occasion of the news that Neil Woodford had been fired as manager of his soon to be wound down flagship Equity Income Fund, the great man posted a comment on his Pravda-esque blog saying that he could not accept the decision.  His arrogance did not surprise me. What shocked me, as I noted HERE, were the comments by unit holders which were universally supportive of Neil.

Eddie Stobart Logistics – another potential bidder enters the fray for this Woodford Dog

Published 466 days ago

Shares in AIM-listed Eddie Stobart Logistics (ESL) remain suspended pending interim results and financial clarification, but that has not stopped a third potential bidder – Wincanton (WIN) – entering the fray. Eddie Stobart now has three potential suitors – DBAY, which was involved in its original demerger from Stobart Group (STOB), and an outfit headed by Andrew Tinkler – who was sacked by Stobart Group after a messy campaign to remove its then chairman, and Wincanton which now has twenty-eight days to decide whether to make an offer. So is this all good news?

Tom Winnifrith Bearcast: Neil Woodford, the book by myself, Cynical Bear and Nigel Somerville

Published 466 days ago

The FT says today that no-one emerges from the Neil Woodford scandal with any credit. I beg to disagree with the PR cocksuckers at the deadwood press yet again. Meanwhile three folks who do emerge with real credit are now negotiating a book deal. I also look at Brady (BRY) and its crazy share price and in detail at uber dog Plutus Powergen (PPG)

Itaconix – what disappointment now from another of Neil Woodford’s ‘leading innovators’?

Published 466 days ago

Previously writing on self-styled “leading innovator in sustainable specialty polymers” Itaconix (ITX), in July 2018 I noted a fundraising at 2p per share comparing to 6.75p on the shares being suspended and it still only stating “the net proceeds of the fundraising will provide the company with at least 12 months of working capital”… for me on this Woodford dog, natch, it remains bargepole ahoy. Today a “Trading Update” – what now from this, another of Neil’s ‘leading innovators’,?…

NEX-listed Neil Woodford Dog Rutherford Health raises £20m in loans, but at what cost?

Published 466 days ago

Neil Woodford cash-guzzling NEX-listed dog Rutherford Health (RUTH) – the former Proton Partners – had been keeping a low profile in the wake of Neil Woodford’s sudden departure from the financial services scene. Of course, without Woodford around, there are questions as to who will have to foot the bill for his remaining £32.5 million funding commitment offered to Rutherford at listing in order to get the IPO away. Yesterday Rutherford announced a £20 million “impact-linked” loan facility from Triple Point Investment Management – but what are the terms? Is this money to replace the Woodford commitment? Is the loan secured or not? What is the interest rate? Is there an equity kicker? And what on earth is an “impact-linked” loan anyway?

Tissue Regenix – the nightmare continues for Neil Woodford investors!

Published 467 days ago

The 10th September-announced half-year results from “regenerative medical devices” group Tissue Regenix (TRX) included “we anticipated that the year would be significantly weighted towards the second half, as announced on the 4 June… We continue to expect that this will be the case… demand for our products is strong”. Now a “Trading Update”…

Tom Winnifrith Bearcast: now about that FCA Enquiry

Published 467 days ago

Is shorting Neil Woodford stocks like shooting fish in a barrel? I argue not and explain why it could be dangerous. I look at the FCA enquiry into Woodford and question whether its remit will be wide enough. Then, touching on the Fiske (FSK) AGM statement I look at calls for more regulation in the wake of the Woodford scandal.

Neil Woodford Redemptions-less Watch: reading between the lines

Published 467 days ago

Well, there were no redemptions yesterday as both Woodford Income Focus and Woodford Equity Income are now gated. But the letter from Link (the ACD) telling Income Focus’ investors of the suspension of dealings seems to me to be a little misleading as it looks to me to be an attempt to re-write history.

Photo and video special: Tom Winnifrith and Nigel Somerville go to visit Neil Woodford in person

Published 467 days ago

I happened to be in Oxford, for family reasons, and my colleague Nigel Somerville lives close to the City of Lost Causes and so we thought we'd pay Neil Woodford a visit. After the past 1000 articles exposing the soon to be ex fund manager since 2015 it was the least we could do.

Squeaky Bum time at WPCT - surely not more ignominy for Neil Woodford?!

Published 468 days ago

Woodford Patient Capital (WPCT) - Neil Woodford's last investment fund still standing, although not for long as he is working his notice - has announced its latest NAV per share. If I were Susan Searle, Chair of the Board, I would be a tad concerned.....

BREAKING: Neil Woodford's denouement continues: now Income Focus has been gated

Published 468 days ago

You can't say you were not warned even as recently as yesterday: following Neil Woodford's sacking from his Equity Income Fund (WEIF) and then his serving notice on Woodford Income Focus Fund, Link - the ACD - has announced that the latter fund too has now been gated...

Tom Winnifrith Bearcast: I'm going to Oxford today and Neil Woodford I'm coming to see you

Published 468 days ago

Yes Neil, I will be the guy turning up at some point today in a blue van at your luxury HQ to take some photos and maybe shoot a short video. My pal Nigel Somerville may be coming too. It will be good to catch up. See you later! In the podcast today I also look at Woodford Patient Capital Trust (WPCT), backing Richard Jennings at Global Resources Investment Trust (GRIT) and at Optibiotix (OPTI). I also receive complaints about my coverage of Neil yesterday. I despair.

Neil Woodford Redemptions Watch: it’s eyes down for a tsunami at Income Focus

Published 468 days ago

Yesterday Neil Woodford finally threw in the towel. Having been sacked as investment manager for his own namesake Woodford Equity Income Fund (WEIF), as we immediately pointed out here on ShareProphets, his fund management operation was no longer viable. Last night we learnt that Woodford had handed his notice in at WPCT and Income Focus, and will wind up Woodford Investment Management. It is an outcome we have been explicitly predicting for over a year and a half and now it has come to pass. The only question now is how much further humiliation can be heaped on Woodford, and that day of reckoning is already upon us.

Neil Woodford Welsh Hovel Caption Contest Result

Published 468 days ago

I should stress that the photo below was taken after our Welsh decorators had stripped what is the master bedroom but before they had decorated it and that I can look smarter as I hope you will see later today. Watch this space. In that light almost all entries to yesterday's contest  which suggested that either the Welsh Hovel or myself need a lot of work were disallowed. You can see the abuse here.  The winner is:

BREAKING: Woodford Investment Management is toast - Neil to close it down, quits WPCT & Income Focus

Published 468 days ago

A late-in-the-evening RNS from Woodford Patient Capital (WPCT) announced this evening that Woodford Investment Management has resigned as fund manager to the trust. And we have now learnt that Woodford Investment Management is to be closed down. Stripped of its fee income from Woodford Equity Income (WEIF), from which Neil Woodford was announced as having been sacked early this morning, as both Tom Winnifrith and I pointed out, Woodford Investment Management (WIM) was no longer viable (we got there first on that one as well). Now he has thrown in the towel on that too: WIM is to be closed down. Bring out the ouzo again!

And so, Farewell then.......

Published 469 days ago

So,

Farewell then

Neil Woodford.

Tuesday Caption Contest - Neil Woodford special from the Welsh Hovel

Published 469 days ago

In light of today's news and the 100% vindication of our 1000 + articles and podcasts since 2015, do your worst. Entries by midnight tonight in the comments section below...

Neil Woodford objects to winding up of his flagship Equity Income Fund - says he "cannot accept" decision

Published 469 days ago

Soon to be ex-fund manager, Neil Woodford has not taken the decision to wind up his flagship Equity Income Fund and fire him at all well, as you can see below. But he is disgraced, will soon lose his other mandates and will almost certainly now face a full FCA enquiry. None the less some of his followers have not lost faith. Some folks are just so daft...

Neil Woodford Redemptions Watch: One step for a small man........it's all over bar the shouting

Published 469 days ago

And so Link, the Authorised Corporate Director of Woodford Equity Income (WEIF) – Neil Woodford’s flagship fund and the main source of income for Woodford Investment Management – has announced that Woodford has been sacked as fund manager, and that rather than be un-gated come December the fund is being wound down. In other words it is in full redemption mode. It will be interesting to see how much of the £3.025 billion it was supposedly worth at yesterday’s close will survive the fire sale which surely follows. But what of the other two Woodford funds, Income Focus and Woodford Patient Capital (WPCT)?

Screwed by Neil Woodford’s demise : NEX listed Rutherford & its £400 million joke valuation, statement needed ASAP

Published 469 days ago

The IPO of Rutherford International (RUTH), formerly Proton Partners, only happened because Neil Woodford was prepared to commit £100 million of other folks cash to it on a ludicrous valuation. That move increased the management fees he banked materially but will cost his investors a packet as I explained, again, in bearcast earlier. But now Rutherford is utterly fecked by Woodford's firing by EIF and needs to issue an RNS asap.

Tom Winnifrith Bearcast: A day of complete vindication as Neil Woodford is ruined

Published 469 days ago

How I remember being singled out by name by Neil Woodford at the Woodford Patient Capital Trust (WPCT) AGM as a purveyor of fake news on May 16 this year. Neil was adamant: he was doing brilliantly I was making thisngs up. Today he was fired by his flagship fund and his City career is in its final weeks and will end in disgrace. Investors who ignored four years of warnings on this site will have lost billions. I reflect on all of this, where it leaves various parties including Neil's other vehicles, disgraced Hargreaves Landsdowne (HL.) and other disgraced promoters.  I also comment on another vindication, the mercy takeover of Brady (BRY) at just 10p after I forced it to fess up to its finacial woes, with the shares at 26p just three weeks ago.

Video: Neil Woodford fired & disgraced today, here is Tom Winnifrith predicting it all in April 2018!

Published 469 days ago

Neil Woodford, Britain's best known fund manager, has today been fired by his flagship Equity Income Fund which is to be wound down. Some in the corrupt deadwood press, like the Mail on Sunday, were still praising Woodford up to the date before EIF was gated in June. Others have turned bearish over the past few months having previously drunk the cool aid. But we first warned about Woodfoird in 2015 and 1000 articles and podcasts later, we were clearlty first and our journalism has been utterly vindicated as you can see HERE. Site Editor Tom Winnifrith gave a keynote address at UK Investor 2018, in April of that year, predicting exactly what would happen and highlighting numerous red flags. You can see that video below

EXCLUSIVE: Shocking Analyst Report Woodford Patient Capital Trust Essentially Worthless

Published 469 days ago

Neil Woodford has been fired from his flagship Equity Income Fund today, vindicating our more than 1000 articles and podcasts exposing him since 2015,  but his problems do not end there. I recently commissioned a resting fund manager to produce a detailed bottom up analysis of Neil Woodford’s Patient Capital Trust (WPCT). That report  from a man known as “The Badger” landed with me last night and is shocking in its conclusion: the Trust is essentially worthless. The Badger writes:

Breaking: Neil Woodford fired from flagship Equity Income Fund, fund to be wound down

Published 469 days ago

Link, the ACD, to Neil Woodford’s flagship Equity Income Fund has, after liaising with the FCA, announced that the fund will not be un-gated, allowing investors to redeem units in December, but will instead be wound down. And Neil Woodford’s Woodford Investment Management has been fired with immediate effect. That is the death knell for it. Our extensive warnings, in more than 1000 podcasts and articles since 2015, HERE are now utterly vindicated, Neil is finished.

Eddie Stobart Logistics: the silence is deafening as Neil Woodford sweats

Published 470 days ago

Neil Woodford, the largest shareholder in AIM-listed, but suspended pending interim accounts and one assumes by now financial clarification, Eddie Stobart Logistics (ESL) must be sweating as he wonders what his near-23% stake will be worth. Interims to 31^st May 2019 are still pending, now a month and a half late and two interested bidders have emerged in the form of DBAY Advisers and Andrew Tinkler, the former CEO (before he was ousted) of Stobart Group (STOB).

Tom Winnifrith Bearcast - Sacking Neil Woodford makes total sense, sacking Babcock's fat cat FD does not

Published 470 days ago

Recorded in my car in the City where Neil Woodford's crumbling empire is based I flag up something bad about Woodford Patient Capital Trust (WPCT) and discuss why sacking Babcock's (BAB)  FD is a pointless gesture. 

Dividend Munchers – How’s my mini-portfolio doing?

Published 471 days ago

With a stack of high-yielders which the market might suggest were due to chop their dividends (which is why, on paper, the dividend yield is high) and so far two payouts having come under the guillotine, it is with some trepidation that I thought it was time to take a look at my mini-portfolio of dividend munchers’ stocks. I offer no recommendations here but my mini-portfolio of Vodafone (VOD), BT (BT.A), Centrica (CNA), ITV (ITV) and recent addition Centamin (CEY) is supposed to be beating bank interest but most have been notable for share price slippage over the past few months. I’d better take a deep breath…….

Neil Woodford Redemptions Watch: a big up-day as Boris goes for tunnel vision

Published 472 days ago

Yesterday was, apparently, a big day in that Boris Johnson’s Brexit plans made it into the Euro-tunnel for negotiations. The UK markets went into a buying frenzy as suddenly the world is going to be saved. Thus the FTSE100 put on 0.8%, the FTSE All-Share (Neil Woodford’s benchmark for his Equity Income and Income Focus funds) put on a slightly more impressive 1.37% and the FTSE 250 raced away by 4.19%. Meanwhile Woodford’s unit trusts put on 4.27% (Equity Income) and 5.07% (Income Focus) in NAV per unit. All hail hero Boris.

If you want to stop babies dying you need to back Versarien... Ricketts on twitter drivel

Published 473 days ago

At the Woodford Patient Capital Trust (WPCT) AGM this year that scallywag Neil Woodford suggested that if I had any interest in beating the disease that would incdeed kill my dear Uncle Chris within weeks, that is to say cancer, I should be getting behind the joke company Rutherford Internationbal (RUTH) into which he had spunked vast amounts of other folks cash. This is a common meme among shameless promoters.

Neil Woodford Redemptions Watch – FTSE up….Woodford down, but will he be out by Christmas?

Published 473 days ago

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus unit trusts, the FTSE All-Share, put on 0.29% but once again the Woodford unit trusts underperformed, losing 0.20% and 0.21% in NAV per unit respectively. And Woodford Patient Capital (WPCT), having diced with the 40p per share mark a couple of days ago, fell away to a new low point of just 36.25p – 52.6% down on its share price at the start of June when Woodford Equity Income was gated. My, oh my, what a lucky chap to have sold the bulk if his holding in early July when the share price began with a four.

Tom Winnifrith Bearcast: It's about management silly - ref Castleton

Published 474 days ago

I start, to annoy NoGold, by describing another hidden gem we have revealed at the Welsh Hovel. Then it is onto Castleton (CTP), Bahamas Petroleum (BPC) and Woodford Patient Capital Trust (WPCT). If, like the Sith Lord Zak Mir, you are going to the AIM Awards Dinner tonight just remember who ultimately has paid for your gluttony.

Industrial Heat – is there yet more bad news pending from this Neil Woodford dog?

Published 474 days ago

Annual Accounts of Limited Companies have to be lodged at Companies House wthin nine months of the reporting period end. Of course, the likes of BP and Shell manage to produce theirs within around four months and if massive organisations like those can do it in four months one might wonder why Neil Woodford’s cash-guzzling dog Industrial Heat – IH Holdings International Limited, to give it its proper title – can’t do it in nine months. You see, its FY18 accounts should have been in on 30 September, but Companies House has them marked as overdue.

BREAKING: Neil Woodford Redemptions Watch - WPCT shares halve since the gates came down at Woodford Equity Income

Published 474 days ago

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus unit trusts, the FTSE All-Share, put on 0.22% but his funds lost 0.35% and 0.40% in NAV per unit respectively – yet another day of grim underperformance. Meanwhile, having diced with the 40p per share mark, Woodford Patient Capital (WPCT) finally threw in the towel and fell to just 38p and is just 37p in opening trading this morning. Back at the start of June, when Woodford Equity Income was gated, WPCT shares were trading at 76.5p: the shares have halved in four and a bit months!...

Neil Woodford Redemptions Watch: buy when there’s blood on the streets? Not here!

Published 475 days ago

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus unit trusts, the FTSE All-Share, dropped by 0.81% but his funds lost 0.89% and 1.32% in NAV per unit respectively. Oh dear – yet another day of underperformance. Equity Income fund’s assets dropped to £2.92 billion, a drop of 21% since it was gated at the beginning of June.

Sirius Minerals utterly roasted in superb SP Angel note - well done John Meyer!

Published 476 days ago

Chris Frazer, the knobhead who runs Sirius Minerals (SXX) is today calling for bulletin boards to be shut down and again saying that private investors should only buy shares after seeking advice from regulated folks (Neil Woodford perhaps?) The blame for his company’s shares crashing by 90% and being a potential zero must lie elsewhere. Au contraire. I have lambasted John Meyer of SP Angel many times but his analysis of Sirius, its ghastly errors and dire position is superb. Meyer opines in his morning note today:

Neil Woodford Redemptions Watch: same old same old as WPCT toys with 40p line in the sand

Published 476 days ago

Yesterday the FTSE All-Share, Neil Woodford’s benchmark for his Equity Income and Income Focus unit trusts, put on 0.43% but his funds put on just 0.22% and 0.28% in NAV per unit respectively. It is a familiar story – when the market rises he rises less and when the market falls Woodford funds tank. Whilst the market his recovered a little from its wobbles of last week, Woodford Equity Income’s total value still sits below the £3 billion threshold, having been £3.7 billion when it was gated. And Neil continues to charge his management fees.

ShareProphets readers tips for 2019 competition – end September update

Published 476 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

Roger Lawson’s 17 reasons Not to own Burford

Published 477 days ago

Roger Lawson of ShareSoc sent me a present the other day. Nope, not another lawyer’s letter but a copy of his new book “Business Perspective Investing… And why financial numbers are not important when picking shares.” A snappy title if ever there was one. I do think numbers matter but it is not a bad read. To demonstrate what he means, Mr Lawson has listed 17 reasons why he does NOT want to own or buy shares in Burford (BUR) and it is nothing to do with the Muddy Waters affair. The 17 reasons Neil Woodford ignored are:

Time Out Group – “Proposed Placing”, Woodford remaining (eventually, for the wrong reason & at a lower price, natch) correct to sell?

Published 477 days ago

Previously writing on Time Out Group (TMO), last month I noted balance sheet deterioration after interims showing net revenue only 10% higher than in the corresponding 2018 period to £24.7 million, a little changed attributable loss of £11.4 million and £16.6 million of net investing spending more than depreciation + amortisation and concluded, with the shares at around 128p, I still think Woodford - albeit eventually, for the wrong reason and at a lower price! - was correct to sell. Now “Proposed Placing”…

Reader Post of the Weekend: Woodford Dog BenevolentAI – Temasek 10, Woody “nul points”

Published 477 days ago

I am indebted to Pierotlunaire for his post over the weekend on my piece Woodford Dog BenevolentAI: as predicted......but it is good news really! for the paperwork for Temasek’s investment into this cash-hungry dog has arrived at Companies House and as expected Temasek has take its pound of flesh.

The “good news” for Neil Woodford was that BenevolentAI had managed to attract an investment of $90 million from Temasek. The valuation of BenevolentAI was hit for six, dropping to around $1 billion (from $2 billion) but the other piece of good(ish) news for Neil was that this would drop his unquoted investments held in his Equity Income Fund, which was at the time well over its limit of 10% of the fund – partially because the dodgy Guernsey listings had been scrapped. But of course it also meant that book value of his investments in BenevolentAI had halved at the stroke of a pen.

Susan Searle and WPCT: more on that appointment of Raymond Abbott - a safe pair of hands or Butterfingers?

Published 478 days ago

Last week one of the highlights for me was the shadow of incompetence spreading at Neil's Woodford Patient Capital Trust (WPCT) as it tried to reassure the market with the appointment of Raymond Abbott to its board. What Susan Searle, the Chair of WPCT, would have hoped is that the appointment of Mr Abbott would be seen as a safe pair of hands. Naturally she will have done her homework, which is why the original RNS of Monday had to be corrected, after my prompt,  as it mis-named one of Mr Abbot’s previous appointments and missed another off altogether. But is Mr Abbott a safe pair of hands or butterfingers?

Notes from Underground: Let me ask you a question about our podcasts

Published 478 days ago

Tom has been doing Bearcast for something like five years now, and the ShareProphets Radio Show is going gangbusters. What I need to know is how do you listen to them?

Neil Woodford Redemptions Watch: No Buffett!

Published 479 days ago

Yesterday the FTSE All-Share (Neil Woodford’s benchmark for his Equity Income and Income Focus unit trusts) staged a little bit of a recovery and put on 1% - not that it helped the Woodford funds, which only put on 0.27% and 0.18% in NAV per unit respectively, according to Morningstar.

Tom Winnifrith Bearcast: the business flies on the turd that was the Blair regime, Lord Drayson and Sensyne

Published 479 days ago

I start with a row I had with the Mrs on Brexit. It is pertinent to what follows so bear with me No Gold. I then move on to a different sort of socialist to the Mrs, my grandfather Sir John Winnifrith and his comrade in arms Tony Benn, that is to say Lord Drayson of Sensyne (SENS) where revelations yesterday were shocking. Oh, and that poltroon Neil Woodford is involved too.

Reader Poll: what will Neil Woodford’s Equity Income Fund be worth when/if it is ungated?

Published 480 days ago

Having lost his last chum in the media today, Neil Woodford’s flagship Equity Income Fund has plunged in value since it was gated in early June from £3.7 billion to just over £2.9 billion – a 21% fall in four months when there were no redemptions. That is entirely down to Woodford’s stock trading genius. So….

Horse. Stable Door. Useless share tipster. Daily Telegraph, Neil Woodford. WPCT.

Published 480 days ago

The Daily Telegraph's lamentable Questor column has today, finally, as you can see below, advised folks to sell Neil Woodford's Patient Capital Trust (WPCT) at a loss of 60%. Talk about horses and stable doors! It gets worse.

Neil Woodford Redemptions Watch:EIF now 21% down in 4 months after another disastrous day

Published 480 days ago

Yesterday the FTSE All-Share, Neil Woodford's benchmark for his Equity Income and Income Focus unit trusts, dropped again - this time by 0.64%. But as predicted yesterday, the Woodford funds scored much worse with drops in NAV per unit of 1.83% and 1.56% respectively. The latest drop pushed Woodford Equity Income (WEIF) down to £2.93 billion in total funds - a whopping drop of 21% from the £3.7 billion it sat at before it was gated four months ago. And just so that we do not miss out WPCT, I see that The Telegraph has dumped it this morning.

WPCT offers a glass of Ouzo to the Deputy Sheriff with…er….consequences

Published 481 days ago

Well that only took four days – well done Woodford Patient Capital (WPCT) and its Chair, Susan Searle. On Monday it announced the appointment of Mr Raymond Abbott as a new director – but got one of his former companies wrong, missed out another and has still neglected to mention that Foresight 4 VCT suffered a £30 million accounting error on his watch as chairman of the audit committee,,an error under FCA investigation, and a further £3 million accounting error after he was rewarded for his outstanding service and promoted to Chairman of the company.

Tom Winnifrith Bearcast brought to you from the killing fields of the Welsh Hovel

Published 481 days ago

My cats are on a roll, It is horrfic. I mention this at the start just to annoy NoGold. Them ouzo for Nigel as Woodford Patient Capital Trust (WPCT) fesses up on a fake RNS. But it is still stuffed. I look at Bahamas Petroleum (BPC) as it dissembles, Brady (BRY) whose shares should be suspended, Clear Leisure (CLP) and a joke deal and Ted Baker (TED) which seems fecked.

BREAKING: Neil Woodford Redemptions Watch: Woodford Equity Income Crashes through £3bn mark

Published 481 days ago

Having been worth a total of £3.7 billion when it was gated at the start of June, Neil Woodford’s Equity Income Fund (WEIF) crashed through the £3 billion mark yesterday and as at midday was worth £2.987 billion according to Morningstar. By comparison, the FTSE All-Share – his benchmark – is almost exactly flat over the same period even before considering dividends. The underperformance is stunning.

September performance update: start of 2019 shorted AIM shares

Published 481 days ago

Early this year we showed the Shorted AIM shares at the start of 2019. How's the performance at the end of September? (those in bold remain from 2018)...

WPCT – Come on Susan Searle, this is beyond a joke: Do you check anything yourself, or just sign on the dotted line and take the cash?

Published 482 days ago

On Monday Susan Searle, the Chair of Neil Woodford's Patient Capital Trust (WPCT) announced the appointment of Raymond Abbott to the board. This was part of a strategy of renewal as she tries desperately to restore market confidence in WPCT, whose shares are trading at around a discount of one third to its stated NAV, a NAV which has collapsed this year. I have already pointed to the £30 million accounting error at Foresight 4 VCT under Mr Abbott’s watch at chairman of its audit committee, the shambles at Climate Change Control (which WPCT reported as plc when it was a limited company, and we are still yet to see a correction) and a further accounting error of around £3 million at Foresight 4 after he was promoted for doing such a fine job as chairman of its audit committee to chairman of the board. You could not make it up. But it seems that WPCT has not only listed the wrong name of one if his companies, it has missed another off altogether!

Neil Woodford Redemptions Watch: two days of outperformance (but no summer…..)

Published 482 days ago

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus unit trusts, the FTSE All-Share, dropped 0.57% but his funds posted gains in NAV per unit of 0.47% and 0.53% respectively. After last week’s dismal performance a welcome relief but both are still very heavily down since Equity Income was gated. Well, actually both are very heavily down full stop.

WPCT board change – and another thing on the appointment of that fine Mr Abbott

Published 483 days ago

Having mentioned two major blunders already, it seems that new appointment Raymond Abbott to the board of WPCT (whose previous directorships are yet to be corrected by WPCT) has another major blunder on his hands – and it is back at Foresight 4 VCT where, having presided over a £30 million blunder as chairman of the audit committee (and he a trained accountant) he was promoted to Chairman. Let us now turn to the FY18 accounts of Foresight 4……

Cash Hungry Neil Woodford Dog Verseon releases interims – when will this mutt be taken out and shot?

Published 483 days ago

AIM-listed Woodford dog and purveyor of revolutionary computer generated drugs Verseon (VERS) released its interims results yesterday – deadline day. A look at the balance sheet says it all as the company bleats that its Magic Money Tree (ie Neil-Knows-Best Woodford) is barren. It has no income, is piled up with debt and nobody wants to invest.

Neil Woodford Redemptions Watch: a better day, but WPCT questions future viability of Woodford

Published 483 days ago

Yesterday the FTSE All-Share, Neil Woodford’s benchmark for his Equity Income and Income Focus Funds, dropped 0.23% but for a change the Woodford unit trusts went up by 0.60% and 0.40% in NAV per unit respectively. Some good news for Neil: his Equity Income Fund has held on to the £3 billion mark for now, but redemptions continue at Income Focus.

Woodford Patient Capital releases Interims – and ‘fesses up that its stated NAV was a fiction

Published 484 days ago

Susan Searle, Chair of Woodford Patient Capital Trust (WPCT), really does have some explaining to do as WPCT released its half-year numbers to the market this morning – reporting deadline day. Quite apart from the shocking performance of the fund under her watch, and the total mess it is in, we have been treated to an admission that the quoted NAVs released by the company have, quite simply, been wrong - a work of fiction.

Neil Woodford's Patient Capital – no Foresight and now a restatement needed!

Published 484 days ago

Further to this morning’s bombshell over the appointment of Raymond Abbot to the board of Woodford Patient Capital Trust (WPCT), it seems that the board of WPCT itself needs to issue a correction as it got one of his former companies wrong. Indeed, whilst it is at it, perhaps it would like to offer some explanation of his tenure at Climate Change Capital which appears to have ended in ignominy, for it appears that Foresight 4 was not the only shambles on his report card.

Tom Winnifrith Bearcast: I'm a b*stard they say but I'm happy to explain simple accounting terms to Neil Woodford

Published 484 days ago

In today's podcast I discuss Brady (BRY), Mobile Streams (MOS), Woodford Patient Capital Trust (WPCT) and its financially illiterate advisor Nomates,  Sirius (SXX0 and Bahamas Petroleum (BPC)

Woodford Patient Capital – Board changes show no Foresight 4 shareholders

Published 484 days ago

Oh dear, oh dear. Is Susan Searle, the Chair of Neil Woodford’s Woodford Patient Capital Trust (WPCT) thinks that the evolution of its board as announced this morning is going to reassure anyone she has another thing coming. Take the appointment as announced today of the very fine Mr Raymond Abbott…….

Tom Winnifrith Bearcast: Firing Neil Woodford is not enough for WPCT

Published 485 days ago

Woodford Patient Capital Trust (WPCT) has results tomorrow. There is talk that Britan's most conceited fund manager may be fired but if Susan Searle and her fellow directors think that gets them or the company off the hook, she is badly mistaken. PS. There is a joke for NoGold 30 seconds in.

Purplebricks – time to get off the fence, sell at 110p

Published 485 days ago

Having closed my short in sleazy estate agent Purplebricks (PURP) a while ago and even having a little trade on the long side, I have been sitting on the fence awaiting developments amongst its four largest shareholders (Axel Springer, Neil Woodford, Merian and Toscafund)...

Another Woodford Interims report appears: Income Focus – Kier Blimey!

Published 485 days ago

We’ve already had the half year report form Woodford Equity Income Fund and now the second of Neil Woodford’s unit trusts, Woodford Income Focus, has released it half year report to July. A few things raised my eyebrows: for a start, the performance was absolutely dire but the trading of Kier Group (KIE) simply looks like a gambler trying to win back all the losses with an outrageous long-shot. The facts are astonishing.

Notes from Underground: Do not fear our new autonomous auto overlords

Published 485 days ago

I have long been a bull for autonomous vehicles and news earlier this month that the UK was creating new highway standards for self-driving cars.  

Neil Woodford Redemptions Watch: the relative and absolute slide continues

Published 486 days ago

Yesterday the FTSE All-Share index, Neil Woodford’s benchmark for his Equity Income and Income Focus unit trusts, put on 0.99%: it had a good day. That didn’t help the Woodford unit trusts, however, as according to Morningstar Equity Income lost 0.37% in NAV per unit and Income Focus dropped 0.34%. Woodford’s Equity Income fund size was £3.7 billion when it was gated at the start of June. Now it has fallen to £3.02 billion – yet the FTSE All-Share has gone up over the same period.

Neil Woodford Redemptions Watch: another day of underperformance as Equity Income dices with a line in the sand

Published 487 days ago

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus funds, the FTSE All-Share, put on a quite impressive 0.7%. Unfortunately this was not reflected in the performance of the unit trusts’ NAV per unit, which fell by 0.2% and 0.87% respectively. Of course, the FTSE All-Share is perhaps a poor benchmark, but in the absence of a FTSE Bag-Of-Nails index, it is the best we can do. The latest drop left Woodford’s Equity Income Fund on the cusp of crossing the £3 billion mark – it now sits at just £3.03 billion. Will it finally drop below that today?

Woodford Dog Eve Sleep releases Interims….oh dear, Neil, got any cash?

Published 487 days ago

Neil Woodford’s revolutionary bedding company, AIM-listed Eve Sleep (EVE), has released its interim results and whilst the company boasts of the halving of EBITDA losses (bullshit losses), revenues are down and it reported losses of £6.7 million on revenues of £12.9 million. Of course, Neil Woodford knows best and has thrown ever more good money after bad into this one-way ticket to financial oblivion and now sees net current assets of £13 million as at 30 June, which the mathematicians of you will see is less than twice the H1 loss – and that was almost three months ago. Eve Sleep needs yet more cash…..and Neil hasn’t got any.

Time Out Group – interims, Woodford (eventually) correct to sell? (& for the wrong reason and at a lower price, natch)…

Published 488 days ago

Time Out Group (TMO) has announced half-year results from what it argues “has been a transformational period… with the opening of three new food and cultural markets in North America. Combined with the ongoing success of Time Out Market Lisbon, this has driven H1 net revenue growth of 72% for the Time Out Market business”. The shares have though responded little changed at around 128p; how has Woodford got on with this one?…

Tom Winnifrith Bearcast: Don't mention the football & trying to be a customer of St James Place

Published 488 days ago

Okay I too mention how my beloved West Ham disgraced themselves last night. I was there. It was awful. A long drive home. This morning I tried doing business with St James Place (SJP). What a nightm are! is there an honest IFA who can help me with a simple problem? I then look at Woodford Patient Capital Trust (WPCT), Big Sofa (BST), Eve Group (EVE), Xaar (XAR)  and what the shock news from Shore Capital (SGR) says about the state of the AIM Casino.

WPCT: another writedown for Neil Woodford as Link wields the knife again

Published 488 days ago

At Woodford Patient Capital (WPCT) we learn this morning of a triple valuation write-down which will cost 3.1p per share in terms of NAV. Cynical Bear wonders if two of them are Precision Biopsy (which has actually stopped operations) and SciFluor which Allied Minds (ALM) – in which Woodford has also invested – has stopped funding. The other may be Sphere Medical which went into administration. We are told:

Neil Woodford Redemptions Watch: a big crunch

Published 488 days ago

More bad news for beleaguered Neil Woodford. The benchmark for his Equity Income and Income Focus funds, the FTSE All-Share, may have been largely flat yesterday but the funds’ NAV per unit  dropped like a stone by 2.06% and 1.34% respectively and the total value of Equity Income now sits at just £3.04 billion. It seems just a matter of time before the £3 billion mark is taken out.

RIP Sphere Medical – another Woodford disaster bites the dust, Neil threw so much good money after bad as he knew best ( again)

Published 489 days ago

Yet another Neil Woodford disaster has gone bust. Sphere Medical was once on AIM but with Woodford chucking in more cash (good money after bad) as it delisted because it saif it would prosper more as a private company this is another case where Nomates knew best....

Tom Winnifrith Bearcast: Off to the City of Lost Causes to see the Mighty Hammers

Published 489 days ago

Yes my daughter and I will be at Oxford United tonight to see the mighty Hammers. COYI. As I try to contain my excitement I discuss Neil Woodford and what the dumping of IP Group (IPO) shares tells us, Aston Martin Lagonda (AML), the FCA and mini bonds and Alexander Mining (AXM).

Neil Woodford Redemptions Watch: another day of underperformance

Published 489 days ago

Yesterday the FTSE All-Share index (Neil Woodford’s benchmark for his Equity Income and Income Focus funds) dropped 0.49%, but his funds dropped 0.62% and 1.09% in NAV per unit respectively as yet another day of underperformance took its toll...

Neil Woodford Redemptions Watch: do you believe him?

Published 490 days ago

Yesterday the FTSE All-Share, Neil Woodford’s benchmark for his Equity Income and Income Focus funds, dropped 0.32% whilst the funds dropped 0.43% and 0.88% in NAV per unit respectively. The underperformance is hardly a surprise to readers of this column, and Link updated yesterday on the suspension of Equity Income noting that since gating at the start of June it has underperformed the FTSE All-Share by a stonking 17.12%. Ouch.

Tom Winnifrith Bearcast: accusations of lying & deception fly - Peter Hargreaves of HL, Neil Woodford & Chris Frazer of Sirius

Published 492 days ago

The accusations of lying, misleading ande of deception are flying thick and fast. I look at Peter Hargreaves of Hargreaves Lansdown (HL.) and his attempted hit job on Neil Woodford and at claims made by Chris Frazer. Frankly, he cannot be Sirius (SXX).

Notes from Underground - More fun with my favourite company, WeWork

Published 492 days ago

In yesterday's Bearcast, Tom talked about some of the outlandish claims in this article covering my favourite company, We Work. WeWork (actually known as the We Company) is attempting to IPO in the US. Let me highllight some of choice bits of the article that Tom didn't get into.

Woodford unlisted cash-hungry dog Immunocore raises money – but at a cost

Published 493 days ago

The Daily Telegraph yesterday reported that Oxfordshire-based biotech Immunocore, of the Neil Woodford unquoted stable, has raised £60 million in a funding round due to complete before the end of this year as the company raises up to £100 million. Great news…….apart from one small detail.

Neil Woodford Redemptions Watch: it is a mess

Published 493 days ago

Yesterday the FTSE All-Share (Neil Woodford’s benchmark for his Equity Income and Income Focus funds) closed almost flat on the day. Happily for Neil his Income Focus fund put on 0.23% in NAV per unit and Equity Income put on 0.57%. although the reported figures are still distorted by the continuing suspension of Eddie Stobart (ESL) after  its shocking news earlier in the week.

Neil Woodford updates on funds as at 31 August: what a total bag of junk!

Published 494 days ago

Yes, folks, it’s that time of the month again when Neil Woodford updates us on his funds, and what is in them. The good news is that both unit trust (Equity Income and Income Focus) had net cash as at 31 August…….and Woodford Patient Capital (WPCT) didn’t.

Tom Winnifrith Bearcast: which thick fecks are buying shares in Thomas Cook?

Published 494 days ago

The Independent Newspaper thinks that I and 17.4 million others need a better education. Does anyone read that rag anymore? In today's podcast I look at Neil Woodford's Woodford Patient Capital Trust (WPCT), notably its holdings in Autolus and Purplebricks (PURP) in light of data out today, Eve Group (EVE), Nigel Wray's Simba, Thomas Cook (TCG), i3 Energy (i3E) and Iconic Labs (ICON). 

Would you Adam’n’Eve it – ANOTHER DIRE profit warning from the Neil Woodford Kennel

Published 494 days ago

Oh dear, oh dear, oh dear. It is a recurring nightmare for Neil Woodford’s disruptive play on all things sleep related as AIM-listed Eve Sleep (EVE) has announced yet another profit warning as the company also announced that merger talks with Simba are all off. It is enough to disrupt even the heaviest of sleeps and the shares have opened 28% down – and are still falling.

Neil Woodford Redemptions Watch: more underperformance as the bad news continues

Published 494 days ago

Yesterday the FTSE All-Share (Neil Woodford’s benchmark for his Income Focus and Equity Income funds) put on 0.5% and Income Focus almost matched it with a 0.44% gain in NAV per unit. But Equity Income only put on 0.26% as underperformance continued...

Kier Group – dismal FY19 results see Neil Woodford continue to look a right Charlie

Published 495 days ago

Fully-listed Kier Group (KIE) has released its full year results to June this morning, and alongside them came the announcement that the Chairman is off. The market doesn’t seem to know how to take the numbers, and having closed yesterday at 132p the shares have wandered between 113p and 140p so far today and last seen sat almost unchanged. But one thing is sure: Neil Woodford looks a right Charlie, having piled in for ever more stock since the long-term collapse from around £8 per share at the start of last December as a flopped rights issue, management change, a strategic review and the scrapping of the dividend all took their toll...

BCA Marketplace – a tale of all that is wrong with capitalism & yes Neil Woodford is involved

Published 495 days ago

This story is about grubby nepotism, egregious compensation schemes, and aggressive business strategies, with an old-fashioned, car auction house at its heart.  It threads together the microeconomics of executive incentives with the macroeconomics of the credit cycle.

Neil Woodford dog Xeros Interims – a "disruptive" wash-out

Published 495 days ago

Neil Woodford dog, AIM-listed revolutionary washing machine purveyor Xeros Technology (XSG) has released its interim results this morning and the news is grim: revenues of £1.6 million led to a pre-tax loss of £9 million. Ouch.

Neil Woodford Redemptions Watch: all eyes on Kier as a grim day beckons

Published 495 days ago

Yesterday the FTSE All-Share (Neil Woodford’s benchmark for his Equity Income and Income Focus funds) was again almost flat – a performance matched by the unit NAV of Income Focus. But the Equity Income Fund unit NAV dropped 0.41% to bring the total fund size down to £3.11 billion. Oops….

Neil Woodford Redemptions Watch: normal service resumed

Published 496 days ago

Yesterday the FTSE All-Share, Neil Woodford’s benchmark for his Equity Income and Income Focus funds, was more or less flat but, according to Morningstar, the NAV per unit of those funds fell by 0.51% and 0.43% respectively. Normal service resumed, then...

Neil Woodford Redemptions Watch: beating the market – but only on a technicality as investors take advantage

Published 497 days ago

Yesterday the FTSE All-Share (Neil Woodford’s benchmark for his Equity Income and Income Focus funds) dropped by 0.63% but the funds’ NAV per unit only dropped by 0.4% and 0.48% respectively. On the face of it another day beating the benchmark, but one should note that with AIM-listed Eddie Stobart (ESL) currently suspended those figures don’t take account of yesterday’s calamitous news from that investment.

Eddie Stobart: interims still delayed, strategic review, discussions with lenders and dividend scrapped. Oh dear…..it looks utterly grim for shareholders, including Neil Woodford

Published 498 days ago

The old stockmarket adage that delayed news is always bad news held true this morning when AIM-listed Eddie Stobart Logistics (ESL) updated the market on its accounting review and the lack of interim results – which are still not ready. It is all bad news – and very bad news for Neil Woodford who holds about 23% of the equity: the dividend has been scrapped and we had the announcement of what amounts to a strategic review. Of course, strategic reviews are themselves a red flag of more bad news to come. It is grim.

Tom Winnifrith Bearcast: Recording with an audience but I can't tell you why

Published 498 days ago

All will be revealed soon. Meanwhile I discuss Eddie Stobart (ESL), Circassia (CIR), Thomas Cook (TCG), Amur Minerals (AMC), Neil Woodford and Watchstone Group (WTG), Quindell as was.

Tom Winnifrith Bearcast: 2 very exciting events

Published 499 days ago

I discuss one of them in full. One have referred to before, part 2 is tomorrow bt I can't say what it is for another few weeks. Then I look at today's Neil Woodford shocker Benevolent AI and how much Neil personally has trousered from valuations now shown to be a joke. Then the attack on Saudi Arabia and what it means for oil prices, gold and the global economy. It is not as dramatic as if this had happened in the 1970s. But there is a dramatic scenario to consider.

Woodford Dog BenevolentAI: as predicted......but it is good news really!

Published 499 days ago

The Sunday Times carries a scoop that Neil Woodford's play on revolutionising biotech, BenevolentAI - held in both WPCT and his Equity Income Fund - is being written down because of a fundraise. Of course, ShareProphets worked it out a few days ago when WPCT announced a writedown to an un-named stock but the Sunday Times has it confirmed. 

Eddie Stobart Logistics: Where, oh where, are the interims? Statement needed Monday.

Published 499 days ago

AIM-listed Eddie Stobart Logistics  (ESL) was spun out of Stobart Group (STOB) is, of course, a Woodford Dog – Neil holds about 23% of the stock. When the shares were suspended last month in the wake of an accounting scandal because the interims would be delayed, we were told that the numbers would appear in early September. Well, they haven’t appeared and the next opportunity for release falls on Monday – the sixteenth of the month. According to my maths, that will therefore be the second half of September. Where are the numbers?

Oxford Nanopore shows it too is a Woodford cash-guzzling dog, but that is just the start of its problems

Published 499 days ago

Tom Winnifrith has already covered Neil Woodford’s crown jewel turned liability Oxford Nanaopore and its latest set of results in today’s Bearcast. But I have a few points to add of my own, and it seems that Oxford has a few problems in the US Courts to deal with next March. Oh dear…..

Notes from Underground - The World’s Largest 10 Economies in 2030

Published 499 days ago

Right now, we're number seven by GDP in the world economy leaderboard. By 2030, we'll be far down the list and number seven will be taken by Egypt. This is a prevocative prediction for only 11 years.

Redemptions Watch: a good week for Neil Woodford (if you ignore all the bad news)

Published 500 days ago

On the surface, Neil Woodford has had quite a good week. Well, apart from the after-hours shock of another write-down in an un-named asset held by WPCT (and presumably his Equity Income Fund, WEIF). Not to mention grim results from Oxford Nanopore snuck out yesterday and the continued suspension of Eddie Stobart (ESL). And not forgetting the additional £12.5 million he has had to find from WEIF for the totally illiquid, unprofitable, non-dividend-paying Rutherford Health (RUTH, formerly Proton Partners) when he is supposed to be repositioning WEIF towards FTSE100 stocks. And we are yet to hear from Verseon (VERS) and Xeros (XSG) in relation to how funding rounds are going. No, apart from all that, he’s had a good week – relatively speaking.

Tom Winnifrith Bearcast: Oxford Nanopore sneaks out results on Friday 13th - Utterly grim news for Neil Woodford

Published 500 days ago

Oxford Nanopore is the flagship unquoted in the Neil Woodford portfolio both at EIF and WPCT. Yesterdaty it snuck out red flag strewn results and on a number of counts this looks utterly grim for Nomates.

Tom Winnifrith Bearcast: Friday 13th is not a good day for the Toxic Brothers: Dave Sefton and Neil Woodford

Published 501 days ago

There is some macro babble focussing on the woes of the EuroZone, why Malcolm is wrong about housebuilders and other matters. I look at Woodford Patient Capital Trust (WPCT) after yesterday evening's shock news and ask when it breaches gearing limits and what happens next. I touch on i3 Energy (i3E) then look at the shock departure of Dave Sefton from Anglo African Oil & Gas (AAOG). He should have been fired sooner and what happens next? And what does this mean for Iconic (ICON) which I mistakenly refer to by its former name of Widecells and where Sefton still casts his malign influence as a director.

Redemptions Watch: Woodford Equity Income falls and Thin Film finally dumped

Published 501 days ago

Yesterday the FTSE All-Share – Neil Woodford’s benchmark for his Equity Income and Income Focus funds – was more or less flat. Income Focus put on 0.11% in NAV per unit, but Equity Income lost an impressive 2.09% to take it back down to £3.1 billion of assets. Over at WPCT we had after-hours news at twenty past six in the evening of yet another write-down (an un-named company) which knocked 5.5% off NAV as the bad news kept on rolling. But in the wake of a lending facility, Oslobors-listed Thin Film (THIN) shot higher and Woodford offloaded his remaining holding into the rise as announced at no-one-is-watching o’clock last night (twelve minutes past five).

Red Flags at Night: Woodford Patient Capital hit as Link slashes yet another valuation

Published 501 days ago

Link Fund Solutions is, we are told, responsible for the valuation of Woodford Patient Capital’s (WPCT) portfolio of unlisted and other dogs, with the help of valuation firm IHS Markit. Since the gating of Neil Woodford’s Equity Income Fund (WEIF), Link has got its hatchet out several times and the official NAV per share of WPCT has dropped sharply from 89.61p as at the end of May to yesterday’s lowly figure (as at the close of play on Thursday) of just 72.85p. The last notified hacking was on 23 August (Industrial Heat) and saw 3.4p per share wiped away at the stroke of a pen. Last night at no-one-is-watching o’clock (6.20pm) another 4p disappeared from view. It is death by a thousand cuts.

Tom Winnifrith Bonus Bearcast: Financially illiterate journalists like Carole Cadwalladr and Neil Woodford's cunning escape plan

Published 502 days ago

Evil hedge funds backed Boris as they were betting heavily on shares to crash claims the crazy cat woman Carole Cadwalladr to rapturous applause from fellow financial illiterates. No doubt the BBC will lap thus up but the only problem is that it is completely untrue. It is fake news. I discuss this plus a cunning escape plan put forward for Neil Woodford's Equity Income Fund. But there are snags.

Redemptions Watch: Neil Woodford on a roll but bad news is rolling too

Published 502 days ago

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus Funds, the FTSE All-Share, put on 1% and Equity Income followed suit with a 1.11% gain in NAV per unit. But Income Focus ran up a storming 2.94% gain. It will be interesting to see how. Meanwhile joke NEX-listed Rutherford Health (RUTH) – the former Proton Partners – presented Neil with a £12.5 million bill for newly minted equity and this morning Oslobors-listed Thin Film has announced a new debt facility to keep the lights on – and yet another round of redundancies. As for other pending disasters, there is still no news from Eddie Stobart (ESL) in relation to its promise to release interims in early September, nothing from revolutionary washing machine outfit Xeros (XSG) in relation to its attempted £5-10 million fundraise and from Verseon (VERS) there is just deafening silence.

Tom Winnifrith Bearcast: That Elon Musk & Tesla are fraudulent lie machines is a FACT so why aren't the shares at Zero?

Published 503 days ago

I reflect on the annoversary of 9/11. I ponder points raised in today's ShareProphets radio show with Carson Block and Anthony Laiker about bull market complacency to fraud. In that vein I use Tesla (TSLA) and the legal case below as a case study. I look at Neil Woodford's latest £12.5 million woes answering reader feedback. I look at Catennae (CTEA), Riverfort Global Opportunities (RGO) and my pal Jim Mellon's Fast Forward (FFWD). I also comment on the latest Burford (BUR) news.

The Grim RUTH – Neil Woodford steps on a £12.5 million landmine

Published 503 days ago

Oh dear. Oh dear. That’s another fine mess you’ve got me into say unit holders in the Equity Income Fund (EIF) and shareholders in Woodford Patient Capital Trust (WPCT) today as hapless Neil reveals another £12.5 million black hole.

Redemptions Watch: Woodford gains but investors still want their cash back

Published 503 days ago

Yesterday Neil Woodford’s benchmark for his Equity Income and Income Focus Funds, the FTSE All-Share, put on 0.4% - as did the FTSE 100. But his two unit trusts again put on more. Has the tide turned? With a long queue of disasters in the making, I rather doubt it...

Eddie Stobart Logistics – what about that interest free £475k related party loan to subsidiary company directors?

Published 504 days ago

Looking through the accounts of AIM-listed Eddie Stobart (ESL) to establish who the possible bidder is, in the wake of the company's suspension from trading on AIM on late accounts and an accounting scandal, something caught my eye. The FY17 accounts note a £475,000 interest-free related party loan to directors of a subsidiary company!

Redemptions Watch: better news for Neil but the queue of disasters is lining up

Published 504 days ago

Yesterday the FTSE All-Share, Neil Woodford’s benchmark for his Equity Income (WEIF) and Income Focus (WIFF) funds, dropped a further 0.4%. Meanwhile WEIF put on 0.24% per unit and WIFF gained 0.17% per unit. Good news – and Eddie Stobart (ESL) announced a takeover approach. A good day then. Well, up to a point.

Tom Winnifrith Bearcast: a statistic that damns the AIM Casino as the failure it is

Published 504 days ago

Fake Sheriff of AIM Marcus Stuttard and colleagues what a shit-showeryou preside over. Thanks to Adept Technology (ADT) we have a stat that damns you. I discuss this, the comedy/tragedy that is Providence Resources (PVR)/ Lansdowne Oil & Gas (LOGP) and their Chinese pals. I look at IP Group (IPO), its results, its balance sheet and its association with the stench of Neil Woodford. Apologies to the fragrant Lizard for my words. And I chat about chatting to Carson Block of Muddy Waters about Burford (BUR) and other matters.To get the Carson Block podcast downloaded to your phone register HERE

The first ShareProphets Sunday Pub Quiz

Published 506 days ago

This has nothing to do with Woodford of Burford or Rob Terry or anything. It's the end of the weekend and we've organised a quick pub quiz. Grab your own beer, there are no prizes, and for Pete's sake, no Googleing!

Notes from Underground - The real, actual, top 11 articles - unvarnished

Published 506 days ago

I've broken up these lists into articles and Bearcasts for the past year so readers can get a more rounded sense of what is popular each week. But I think that I need to show you the actual, merged, top 11 for this week.

Tom Winnifrith Bearcast: The latest chapter in the WPCT scandal and is it the final chapter in the affair MRS?

Published 507 days ago

In today's podcast I look at the latest news from AIM bad boy Management Resoiurce Solutions (MRS)  where I think my critics really do owe me an apology (again). Then at Neil Woodford's latest woes at the Woodford Patient Capital Trust (WPCT) which are the beginning of the end. Will I get to monster the board at an AGM in 2020 as I did this year? I fear I may be denied that entertainment.

Neil Woodford Redemptions Watch: hanging around as the problems mount and the stench grows

Published 507 days ago

Neil Woodford’s benchmark for his Equity Income Fund (WEIF) and Income Focus Fund (WIFF) put on 0.19% yesterday. For the second day in a row WIFF and WEIF both beat that, putting on 0.69% and 0.40% in NAV per unit respectively. Meanwhile, Neil has been selling more Norwegian Dog Thin Film (THIN), dropping his holding to 9.86% as announced at no-one-is-watching o’clock last night (at quarter to five) as the company continues to hurtle towards the corporate undertakers or an eye-watering dilution if a rescue refinancing can be arranged.

Neil Woodford Dog Xeros – washing machine malfunction as the spin cycle starts ahead of the rinse

Published 507 days ago

Neil Woodford’s favourite revolutionary (geddit?) washing machine outfit, AIM-listed Xeros announced some apparently good news this morning. I say apparently – it is a licensing deal for its washing machine technology but came with absolutely no financials whatsoever. What is the point of that? I thought RNSs were supposed to inform. But in this case I suggest it is not so much to inform as to ramp the shares up as the company tries to get a bailout funding away. I suspect the more important announcement was the one that came later in the morning, at 11.06 am, announcing that interims to June will be released on 19 September – a week next Thursday. I’ll mark that one in the diary…….

BOOM: Neil's Woodford Patient Capital Trust: Banks now calling the shots, this is grim

Published 508 days ago

Woodford Patient Capital Trust (WPCT) has today issued a shocking statement “Debt facility”. It shows that its banks ae now getting nervous and pulling all the strings. Boy, Neil Woodford must be glad that he has already sold most of his shares. The news also has grim implications for the Equity Income Fund.

Tom Winnifrith Bearcast: I am glad Mugabe is dead & burning in hell with Martin McGuinness

Published 508 days ago

I start with the incredibly exciting matter I flagged yesterday. It did happen and I shall be able to say more in 4-6 weeks. Then onto the death of Robert Mugabe. I am sure the BBC will focus on early heroics. It should not. That is like saying "but... Hitler created some good art early on." I celebrate Mugabe's death wishing it had happened years ago. I look at how the regulators fail to tackle white collar crime reference Sefton (SER) and at why Altitude (ALT) MUST be investigated. I also cover Alien Metals (UFO) and Neil Woodford dog Xeros (XSG).

Neil Woodford Redemptions Watch: a modicum of outperformance……except at WPCT (ouch!)

Published 508 days ago

Neil Woodford’s benchmark for his Equity Income Fund (WEIF) and Income Focus Fund (WIFF), the FTSE All-share index, dropped by 0.41% yesterday but the good news for Neil is that WEIF and WIFF posted gains in NAV per share, with WIFF up by 0.26% and WEIF up by 0.23%. Hurrah – for one day only, he’s beaten the benchmark!

Neil Woodford Redemptions Watch: down, down, down as we learn (after hours, natch) of THIN pickings

Published 509 days ago

Serial no-one-is-watching o’clock issuer of bad news, Oslobors-listed Thin Film (THIN) announced last night at eighteen minutes past 6pm that Neil Woodford has offloaded another tranche of the company’s confetti to bring his holding down from just shy of 20% to 13.5%. Early yesterday the shares were trading at NOK 0.07 but closed at NOK 0.06, perhaps indicating again that valuing small illiquid stocks is all very well until you try to sell them.

Tom Winnifrith Bearcast: The stench of Neil Woodford makes IP Group uninvestable whatever Jefferies says

Published 510 days ago

In today's podcast I look at Mobile Streams (MOS), Xeros Group (XSG), what causes Neil Woodford to call it a day and how the stench of his activites makes IP Group (IPO) uninvestable at any price whatever broker Jefferies says in a note today.

Redemptions Watch: market down, Woodford funds down more but redemptions up

Published 510 days ago

Yesterday saw the FTSE All-Share index, Neil Woodford’s benchmark for both his Equity Income Fund (WEIF) and his Income Focus Fund (WIFF) drop about 0.2% as Parliament continued its Brexit nonsense. But WEIF dropped 0.67% and WIFF lost 0.37% in NAV per share as Neil’s underperformance continued.

August performance update: start of 2019 shorted AIM shares

Published 510 days ago

Early this year we showed the Shorted AIM shares at the start of 2019. How's the performance at the end of August? (those in bold remain from 2018)...

Redemptions Watch: Neil Woodford still behind those dodgy markets

Published 511 days ago

At the weekend I noted that Neil Woodford was blaming the markets for his terrible underperformance – it was nothing to do with him, natch. Yesterday the FTSE100 put on 1% and the FTSE All-Share, his benchmark for both the Woodford Equity Income Fund (WEIF) and his Income Focus Fund (WIFF), put on 0.93%. But according to Morningstar, those two funds only put on 0.61% and 0.70% in NAV per unit respectively.

Whilst some go back to school, M&S goes back to the FTSE-250: problem or opportunity?

Published 513 days ago

Investment is a credibility and confidence game. And part of this game is admitting that sometimes (actually quite often) you are wrong on shares.  But as always it is how you react that matters and with psychology being an important driver of share prices in the shorter-term, trying to work out what the average investor is thinking is part of the game.  

Neil Woodford’s Equity Income Fund releases Interim Report: Don’t blame it on the sunshine……

Published 513 days ago

When no-one was looking, Neil Woodfords’ Equity Income Fund’s (WEIF) Interim Report to June of this year was slipped out. If Neil was hoping nobody would notice he’ll be disappointed as it was picked up by The Sunday Times and Citywire……..and ShareProphets. Readers of the Sunday Times will think that WEIF only lost 11.2% since being suspended as the kids there clearly can't do basic maths. ShareProphets readers know it is far more……

Notes from Underground - The 25 Best Warren Buffett Quotes in One Infographic

Published 513 days ago

Sure, this column is merely about the 10 most read articles and listened-to Bearcasts, but when I can squeeze in something sexy, like Bitcoin or graphene or Frozen Concentrated Orange Juice futures, I get all the page views. This week, I have the big dogL Warren Buffett in graphic form. Look to me on top next week.

Red Flags at Night (with bells on): Neil Woodfjord Oslobors Dog Thin Film (yet again!)

Published 514 days ago

This really is taking the piss. Having released its FY18 results at one o’clock in the morning, a 6pm on a Friday release covering another major round of redundancies and news of share dumping by Neil Woodford at 9pm on a Wednesday, now Oslobors-listed Thin Film (THIN) has offered up more news, this time at half past midnight on a Saturday and it once again features Neil Woodford, who has again been selling shares. To err once might be seen as forgivable, but four after-hours releases of bad news, two of them in the middle of the night over the past (less than) four months? It is appalling behaviour for a listed company - a serial offender in the issuing of bad news at no-one-is-watching o'clock.

Redemptions Watch: Redemptions continue at Woodford Income Focus as Neil continues to dump dog Thin Film (released at half past midnight!)

Published 514 days ago

Yesterday’s big disaster for Neil Woodford was Oslobors-listed Thin Film (THIN). Given that Neil has already lost most of his money here already yesterday’s news won’t count as a financial disaster. But yet another dog on the verge of insolvency will – and once again we have the plain fact that Neil can’t bail it out because he’s got no cash being demonstrated to all. And to underline its mega-dog nature, this company once again clocked up an entry in the Red Flags at Night register, with a filing at half past midnight last night telling us of another sale of its shares by Neil Woodford. Half past midnight!

Redemptions Watch: Woodford funds underperform as Thin Film warns of potential insolvency

Published 515 days ago

Yesterday was a good day in the markets: the FTSE100 put on 1%. Of course, the FTSE100 is not the benchmark for Neil Woodford’s two unit trusts – that is the FTSE All-Share index, which put on 0.87%. So it is perhaps a tad disappointing that Woodford Equity Income Fund (WEIF) dropped by 0.07% in NAV per unit, although not as disappointing as Woodford Income Focus which managed to drop 0.89%. Oh dear...

Redemptions Watch: another new low for Neil Woodford’s Income Focus and Equity Income funds

Published 516 days ago

Yesterday we learnt from Citywire that Neil Woodford has dumped his holding in Nasdaq-listed Prothena (PRTA) for £50 million to San Francisco-based biotech investor EcoR1 Capital, ending another disastrous tale of woe. In the early days of Woodford Investment Management this was a star investment and Neil chucked in piles of other people’s money but last year it ran into trouble when its flagship treatment for amyloidosis failed in trials. In the good old days Woodford’s holding topped well over £500 million in value – and he’s got just £50 million for his 22% stake...

Tom Winnifrith Bearcast: Optibiotix, Thomas Cook, Rutherford & Neil Woodford's Reputation - 3 of 4 are near as damn it worthless

Published 517 days ago

Apologies for the background noise in the Thomas Cook (TCG) segment, a workman at the Welsh Hovel has not quite understood how I have to pay his bloated fucking wages. I also discuss Rutherford (RUTH)_and how it will destroy the reputation of Neil Woodford but not in the way Nigel suggests and Optibiotix (OPTI)

FREE Podcast: ShareProphets Radio Edition SIX with Tom Winnifrith, Harry Adams of Kefi, resources guru Gary Newman and the world of PC mattresses

Published 517 days ago

In this sixth edition of the ShareProphets Radio podcast sponsored by Riverfort Global Capital, this week, in order I discuss PC nonsense in the world of matresses and also the folly of Nigel Wray and Neil Woodford in this sector, I give Harry Adams of Kefi (KEFI) a right old grilling, I look at the pointless ramping of AIM rubbish via other podcasts and paid for research and then discuss all things resources & other matters with guru Gary Newman. If you like this and can't wait seven days for more of the same you should listen to my Bearcast every day.

Redemptions Watch: bad news keeps rolling in for Neil Woodford

Published 517 days ago

The wall of bad news for Neil Woodford shows no sign of abating. Last week saw Eddie Stobart (ESL) suspended, his investment into laws of physics-bending Industrial Heat heavily marked down in a revaluation and two further biotech outfits written down to near zero. Yesterday the FD at Rutherford Health (RUTH) - the former Proton Partners - exited stage left on the eve of his reappointment at the AGM which kind of suggests to me there is a problem, Muddy Waters continued its attack on Burford (BUR) thanks at least in part to the excellent work of Drunken Sailor. And on Friday (no doubt after-hours) we will see the delayed Q2 results from Oslobors-listed Thin Film (THIN) which has been trying (and failing) to raise money, and is running out of cash fast. Where will the next shoe drop?

BREAKING: Neil Woodford Dog Rutherford Health (ex- Proton Partners) announces immediate departure of CFO. Rats, sinking ship?

Published 518 days ago

Following my weekend comments when I suggested readers have beer and popcorn to hand as Rutherford Health (RUTH), the ex- Proton Partners (PPI), has called its AGM for tomorrow as investors are asked to approve the share issuance required to take Neil Woodford’s £45 million of other peoples’ committed money, today the CFO has resigned!

WPCT – Oopsadaisie Neil, what’s today's disaster?

Published 518 days ago

Woodford Patient Capital Trust (WPCT), which is considering Neil Woodford’s future as manager, announced its NAV as at the close of play of Friday this morning (just) at 11.57am. We had been warned that Link was marking down the value of investee Industrial Heat by the equivalent of 3.4p per WPCT share. But it seems this was not the only bad news….

Neil Woodford – the dash for cash: Raven Property

Published 518 days ago

Today Raven Property Group Ltd, (RAV) a Russian Property Investment Group, announced strong results with an increase in diluted net asset value per share of 40% to 67p (31 December 2018: 48p).  The company also announced a proposed distribution of “1.25p per ordinary share by way of a tender offer buy back of 1 in 44 shares at 55p.”

The Twenty Most-Read Stories and Most-Listened-To Bearcasts This Year (So Far)

Published 519 days ago

We've published 2,292 stories since 1 January. Here are the twenty most-read articles and twenty most-listened-to Bearcasts.

ShareProphets readers tips for 2019 competition – August bank holiday update

Published 520 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is an August bank holiday update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

WPCT – Is it Eyes Down for a bunfight ref Proton Partners? Will Neil Woodford be sacked on Tuesday?

Published 520 days ago

Neil Woodford investee Proton Partners, the joke listing on NEX which has seen just one trade since IPO in February, has changed its name to Rutherford Health (RUTH) and sees a general meeting this week which seeks shareholder authority it issue more confetti. Why does this matter? Well, there is the outstanding £45 million due from Neil Woodford – and we know that the board of WPCT (which is on Neil’s hook for the whole lot) is considering sacking him. With a hat-tip to Cynical Bear, I fancy this could be an entertaining week.

Redemptions Watch: a grim Friday for Neil Woodford

Published 520 days ago

With so many car crashes waiting in the pipeline for Neil Woodford, Eddie Stobart (ESL) slipped through and the shares are now suspended at 71p. With its finances clearly in total a mess and a highly generous dividend under review (ie going to be scrapped) the next question is whether it will have to tap the markets for more cash as its lenders pull the plug. The good news for Neil Woodford is that the suspension means the net asset values of his funds will be unaffected until the suspension is lifted, but don’t let that fool you: the shares will be savagely derated in due course.

Notes from Underground - Visualising the history of the world

Published 520 days ago

Lord knows that I love charts and videos in this column and this week is a doozy. A history of the world from 185,000 BCE to now. 

Tom Winnifrith Bearcast: Sheik on the make, another nail in Neil Woodford's coffin and the true scandal of today's First Derivatives shocker

Published 521 days ago

In today's podcast i look more at the Sheikh on the make at ADM Energy (ADME) and the failure of Nomad Cairn of Cloudtag (CTAG) infamy. Just how big is that failure? Then a few words on Neil Woodford and finally I discuss the full extent of the possible regulatory horrors which follow on from today's shocking breaking news on AIM "superstar" First Derivatives (FDP) . Update First now says the lawsuit that could have bankrupted it was withdrawn ( it has not said why) on Friday. That does not explain why there was no RNS on Wednesday.

Eddie Stobart - the Red Flags were there to spot

Published 521 days ago

We missed this one. we cannot spot every car crash waiting to happen. But we did give an alert of sorts. Week in week out, Eddie Stobart Logistics (ESL) featured in Steve Moore's table of the most shorted AIM shares. When bears hunt in packs, like this, they are rarely wrong, especially when the biggest cheerleader on the other side are Bulletin Board Morons or, as in this case, Neil Woodford. So what were the red flags? There were three big ones:

Tom Winnifrith Bearcast: Will the FCA investigate whether a Dubai Royal Shaikh Ahmed Bin Dalmook Al Maktoum, is guilty of AIM casino insider dealing

Published 522 days ago

This looks like a doddle to investigate. The stock is ADM Energy (ADME) but will the FCA dare to challenge Shaikh Ahmed Bin Dalmook Al Maktoum or is insider dealing just an offence of you are a nobody? Then I look at the Eddie Stobart (ESL) fraud debacle, the Industrial Heat shambles, Woodford Patient Capital Trust (WPCT), the  Equity Income Fund (which has  today insisted it will look to ungate at Christmas... whatever) the Income Focus Fund (soon to be gated) and what today's news says about the stupidity, arrogance and lack of ethics of Neil Woodford himself. Postscript: His Highness Sheikh Ahmed bin Dalmook bin Juma Al Maktoum is not to be confused with Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates and indeed a very wealthy man. I did confuse him but this is still a Dubai Royal, will the FCA take him on? 

Why Roger Lawson’s gagging proposals would be a disaster for AIM – Tim Baldwin & TXO case study

Published 522 days ago

As you know, Roger Lawson of ShareSoc wants to clean up AIM by, inter alia, forcing websites such as this to remove any article which a company deems defamatory merely on demand, in the way that Bulletin Boards already do. Lawson does not say who would judge when an artiocle could be republished but the implication is that it would be the new regulator he proposes. The case study which shows what utter folly this idea represents is Tim Baldwin and TXO.

Eddie Stobart shares suspended, dividend under review, accounting probe, CEO "resigned" – more disastrous news for Neil Woodford

Published 522 days ago

It never rains when it pours for Neil Woodford. This morning we were told that his investment into the breaking of the laws of physics has been revalued downwards and at 7.30am we learnt that shares in AIM-listed Eddie Stobart (ESL) have been suspended, the accounts will be late, the dividend is under review (ie going to be chopped) and the CEO has walked (ie been pushed). This is all in relation to an audit review. Apart from that everything is fine…..oh, apart from the profit warning – and dear old Neil's funds holds 22.89% of the company, as at 2 August worth, at last night's close, £62 million. Oh Dear.

Redemptions Watch: Woodford hit as laws of physics reassert at Industrial Heat

Published 522 days ago

Apart from the long queue of hungry mouths to feed, there is the small matter for Neil Woodford of the unquoted asset valuations which, judging by the difference between the NAV per share at WPCT (78.96p last seen) and its actual share price (43.9p at yesterday’s close), the market clearly does not believe. This morning we learn that Woodford’s play, Industrial Heat, which defies the laws of physics, is to be revalued downwards by Link. It seems that the laws of physics are reasserting themselves in the form of gravity.

Redemptions Watch: bad news for Neil Woodford as redemptions spike higher at Income Focus

Published 523 days ago

The news blackout at Woodford cash-guzzling dog Verseon (VERS) continues, but at least the shares did not slip any further yesterday. That is more than can be said for fellow kennel cohabiter Xeros (XSG) as the fine disruptor of washing machines tries to get £10 million of new money to avoid the free taxi ride to the corporate undertakers.

Tom Winnifrith Bearcast: A MAJOR red flag for the US and global stockmarkets

Published 524 days ago

Hat tip my esteemed stockbroker, I flag up a major red flag for global equity markets. I discuss a hot rumour of the real reason the FCA swooped to shut down broker SVS. I look at Canadian Overseas (COPL), Avanti Communications (AVN), Sound Energy (SOU), Woodford Patient Capital Trust (WPCT) and Brady (BRY).

Redemptions Watch: for Neil Woodford no news certainly is bad news

Published 524 days ago

No publicity is bad publicity, goes the old showbiz saying but for Neil Woodford any publicity is bad publicity these days. However, no news is bad news for him, and that brings me back once again to his disruptive medical play Verseon (VERS) which must be teetering right on the edge by now.

Redemptions Watch: two up, one down for Neil Woodford bad news still flows – welcome (once again) to the 90% club

Published 525 days ago

Another day, another round of bad news. This morning Neil Woodford will be reading the half-year results of Non-Standard Finance (NSF) – which he put his weight behind in its takeover battle with the rather larger Provident Financial (PFG), which he also owns. But NSF lost that battle and this morning Neil learns that the whole exercise cost it £12.7 million. But hey, its only other peoples’ money…..

Corero – a big stock overhang, no earnings visibility and the threat of a placing – what’s not to like?

Published 526 days ago

Steve Moore and I have been perma bears of software dog Corero (CNS) for many moons. Of course some folks knew better, notably City investors Miton which built up a stake of 15.89% across two of its funds. Then last week Corero issued a shocking warning which Steve covered HERE and I covered HERE.

Tom Winnifrith Bearcast: Don't take to the mattresses! And the quack says I am right

Published 526 days ago

I report on what the quack told me and consider a career change. I consider mattresses Eve (EVE), Simba, Nigel Wray and Neil Woodford. I look at Clear Leisure (CLP), First Derivatives (FDP), Thomas Cook (TCG), Dev Clever (DEV) and Verseon (VERS) and I comment on my interview with Kefi (KEFI) out later this week.

Tom Winnifrith Bearcast: Why did no financial journalist warn about Neil Woodford asks knobhead Antony Luzio, editor of FE Trustnet Magazine

Published 527 days ago

I start with Burford (BUR) and the questions it may or may not choose to ansswer from this weekend plus a look at its spinning and smearing via the PR cocksuckers at the Sunday Times. Then, as a financial journalist who has been warning about Neil Woodford since 2015 and explicitly hoisting red flag after red flag, I assiost Mr Luzio with an analysis of the flaws of the deadwood press and the low grade waste of space press release regurgitators such as him who staff it.

Notes from Underground - We Work so you don't have to

Published 527 days ago

The story that I have been returning to this week is this one, about the US IPO of coworking company, We Work. It is completely bonkers.

Tom Winnifrith Bearcast: Sajid Javid = unprincipled tosser on house prices & the gating date for Woodford's Income Focus Fund

Published 528 days ago

I start with the case of a banker Andrew Tinney who "acted without integrity" but thinks he has done nothing wrong. Discuss. Then ex banker Sajid Javid who wants to ramp up the housing asset bubble by switching stamp duty from buyer to seller. Why do you think he is oing that? Finally to Neil Woodford's Income Focus Fund and a discussion of why it should be gated now but when it will actually be gated.

Redemption Watch: the bad news is piling up as Woodford funds continue to suffer

Published 528 days ago

The bad news keeps on rolling for Neil Woodford. Yesterday is was OsloBors-listed Thin Film (THIN). The day before it also came from Norway as Idex released results.  AIM-listed Verseon has been continuing its collapse but hasn’t ‘fessed up to the market why (er…lack of cash?) and AIM-listed Burford has been biffed and bashed from all angles. It never rains when it pours.

Redemptions Watch: Woodford Walloped; is Gating WEIF really in investors’ best interests?

Published 529 days ago

Neil Woodford suffered another terrible day yesterday. His Norwegian disrupter of biometric cards, Idex, reported another quarter of monster cashburn and it is clear it will need yet more cash, his Income Focus Fund (WIFF) was hammered in the markets, as was the Equity Income Fund (WEIF) to a lesser extent, Verseon slid further to just 12p bid, Kier (KIE) was slapped down by 11%.....but at least the Patient Capital Trust offered a marginal increase in NAV – although the shares were slapped down in the market anyway...

Bad news for Neil Woodfjord as Norwegian Idex reports for Q2

Published 529 days ago

I said early yesterday morning that there was an awful lot of bad news still in the pipeline for Neil Woodford. And then his revolutionary cards outfit Idex of the Oslobors precinct reported. Needless to say the results are pretty awful and the tin will be rattling again very soon...

Redemptions Watch: Woodford funds buck the market (for once) but there's plenty of bad news brewing

Published 530 days ago

Another bad day in the markets saw Neil Woodford’s funds having more of a mixed day. His Equity Income Fund lost 0.25% and closed below £3.2 billion but Income Focus managed to buck the trend and put on a tiny 0.03% in NAV per unit and even Woodford Patient Capital (WPCT) showed a modest gain when its NAV per share statement was released yesterday...

Woodford revolutionary washing machine cash-hungry dog Xeros announces an attempted related party fundraise as predicted. So much for the Going Concern – it’s Ouzo for breakfast

Published 531 days ago

Only last Friday I predicted a fundraise by AIM-listed Neil Woodford backed cash-hungry dog Xeros (XSG), pointing out that Neil hadn’t any cash, in the wake of news that Xeros had sold its US washing machine business. Amazingly, the shares went up even though it was clear the company needed cash and was still haemorrhaging money faster than your average washing machine drains water. The passing of this crock as a going concern by the auditor as a Going Concern only at the end of April will have shareholders all in a spin (that’s enough washing machine gags – Ed). Well blow me down with a feather – its Ouzo time.

Lucian Miers' thoughts on the Burford fiasco

Published 531 days ago

Last week’s saga of Burford Capital (BUR) illustrates well the febrile state of the markets right now and shows how easily ruffled both retail and institutional investors can be in the scandal-prone junior market...

Redemptions Watch: Neil Woodford funds still on a downer

Published 531 days ago

To be fair to Neil Woodford, markets have been a tad choppy of late, to say the least. But yesterday at midday the FTSE100 was down around a third of a percent and this morning’s data from Morningstar shows that Woodford’s Income Focus Fund (WIFF) had lost 0.85% in NAV per unit and his Equity Income Fund (WEIF) had dropped 0.75%. Another day of outperformance (of the wrong sort) then...

Tom Winnifrith Bearcast: Diversified Gas & Oil just smells all wrong

Published 532 days ago

In today's bearcast I look at shitty little gold plays like Conroy (CGNR) and Condor (CNR) at their relationship to the gold price. I cover Burford (BUR) noting today's interventions from two giants of the investment world: Carson Block of Muddy Waters and Roger Lawson of ShareSoc. I look at Providence Resources (PVR) a comedy set to end in tears, at Diversified Gas & Oil (DGOC) a tragedy set to end in tears and also at Neil Woodford and that Cenkos (CNKS) profits warning.

Cenkos Securities – an intra-day “Directorate Change & Trading Update”. Uh oh…

Published 532 days ago

Shares in stockbroker Cenkos Securities (CNKS) are currently up to around 40p, though down from more than 46p at the end of last week. This following a Monday intra-day (3:02pm) “Directorate Change & Trading Update”…

Redemptions Watch: Neil Woodford funds all drop

Published 532 days ago

Another mucky day on the markets saw all of Neil Woodford’s motley crew reporting losses. But whilst the FTSE100 dropped 0.4%, Woodford Equity Income (WEIF) lost 0.47% in NAV per unit and his Income Focus Fund (WIFF) shed 0.55%. It seems that outperformance is the order of the day, although not the outperformance his poor investors were hoping for...

Woodford Dog Eve Sleep announces RTO talks with rival Simba – but would you Adam and Eve it, has it got the RNS wrong?

Published 533 days ago

Neil Woodford’s revolutionary bed project at AIM-listed Eve Sleep (EVE) took an unusual turn as the company announced this morning that it is in very early stage discussions regarding the potential merger of Simba Ltd, ("Simba"). I’m confused – I thought the company was called “Simba Sleep Limited”. Some people might see this as a triumph for Neil Woodford, but I think very differently...

Updated: Seedrs – another Woodford Dog sees its own shares suspended as it touts for cash in its own game

Published 534 days ago

You couldn’t make it up: angel investor firm Seedrs has had its shares suspended pending a financing deal which it says is at an advanced stage, according to The Times. The company wants it made clear that the suspension is simply what happens on this lightly regulated market established by Seedrs when a refinancing is in progress. So nothing to worry about.

Notes from Underground - Burford runs the length of the leaderboard

Published 534 days ago

Wow. if one excludes ShareProphets radio, Seven out of the top 10 stories were Burford, including the top four. If this stories isn't worth your monthly subscription fee, I don't know what is.  Our number 2 story was a Friday scoop for Tom. The Sunday Times today reports it as big "news"....only two days off the pace at the deadwood press..

Redemptions Watch: Woodford gains from Burford bounce (at least for now) but WPCT breaks new ground and redemptions keep on coming

Published 535 days ago

The Woodford Equity Income Fund put on an impressive 1.61% in NAV per unit yesterday, according to Morningstar, as it benefitted from the bounce by AIM-listed Burford (BUR) in the wake of its defence against the bear attack by Muddy Waters,  but with another bear outfit – Daniel Yu’s Gotham City – due to join the party over the weekend one has to fear for the shares on Monday.

Redemptions Watch: Woodford funds still on a downer despite Burford reassurances

Published 536 days ago

Neil Woodford’s funds saw yet more losses yesterday: Income Focus (WIFF) saw losses and redemptions, Equity Income (WEIF) dropped again despite reassurances from AIM-listed Burford (BUR) which had a fair old bounce after the collapse induced by Muddy Waters. Woodford Patient Capital reported yet another loss in NAV. Apart from all that it was a good day….. if you ignore the bad bits.

Xeros sells washing machines business - but when's the placing, Neil?

Published 536 days ago

AIM-listed Xeros (XSG), Neil Woodford’s cash-hungry revolutionary and disruptive washing machine play, has sold the majority of its portfolio of its Hydrofinity US commercial laundry customer portfolio of leased machines to Eastern Laundry Systems and Wash IQ for $109,000 is cash up-front and on-going license fees. The contracts had offered up an adjusted loss (gross loss before exceptional cost of sales items) of $376,000 in 2018 so this is hardly a win – more a case of off-loading a loser.

Hargreaves Lansdown talks utter shite in insincere Neil Woodford Mea Culpa

Published 537 days ago

As it announced pretty decent full year numbers, shamed Hargreaves Lansdown (HL.) did its best to pull the sting from the Woodford scandal by announced that CEO Chris Hill would skip his 2019 annual bonus altogether. But with respect the firm talked utter shite…

Redemptions Watch: disaster strikes Neil Woodford (yet again) as Neil fails to do his homework - he should have listened to me!

Published 537 days ago

Oh dear, oh dear, oh dear. So the Muddy Waters report was indeed about AIM-listed Burford Capital which duly crashed by 46% yesterday, to add to the 19% drop on Tuesday, and Neil Woodford’s second biggest stock pick is…er….no longer his second biggest investment. I rather doubt it is in his top ten now. The press, as predicted, has been baying for blood and the queues of gated Woodford Equity Income Fund investors looking to get their money back before any more of it just disappears into thin air will be lengthening. So let’s take a look at the effect of the Burford collapse on the Woodford empire.

Nervous Neil Woodford in a pickle over Burford, but Tom Winnifrith gets plaudits of Muddy Waters

Published 538 days ago

Burford Capital has responded briefly to the damning report on it by Muddy Waters (aka Carson Block) by saying it will get back to us. Ho-hum – I don’t suppose that is quite what Nervous Neil Woodford wanted to hear as his second largest investment crashes by 63%, to add to yesterday’s 19% drop. His nails must be chewed to the bone – if he’s got any fingers left from catching all those falling knives. And as if things could not get any worse…..

Tom Winnifrith Bearcast: Burford became uninvestable with a deranged RNS at 7 AM, Neill Ricketts is bonkers & Neil Woodford is finished

Published 538 days ago

Once again this website stands 100% vindicated in l'affaire Burford (BUR) where our coverage for months has been ahead of the game. Natch the deadwood press will ignore all of that as well as our brave call of yesterday. I look at Burford, its insane reaction, which was a red flag in itself, and then the equally insane reaction of Neill Ricketts of Versarien (VRS) and where this all leaves disgraced Neil Woodford...

Video: Carson Block of Muddy Waters explains how Burford cooks its books

Published 538 days ago

The report on Neil Woodford's second biggest holding, AIM Casino cdarling Burford (BUR) from Muddy Waters is - as you can see here - damning. Now here is a video where Carson Block explains the accounting tomfoolery that is at play. Enjoy.

Burford Capital is an "accounting fiasco" - Muddy Waters publishes damning report

Published 538 days ago

We warned our readers yesterday that Muddy Waters was on the case. In fact we've been warning about Burford (BUR) for months on this website. The company responded with a pathetic RNS this morning which caused the shares to spike. Now they are tumbling as the Carson Block report is out and its damning. Carson opines:

Redemptions Watch – Nervous Neil awaits Burford news while Income Focus suffers again as redemptions strengthen

Published 538 days ago

This morning’s data from Morningstar is bad news for Neil Woodford, but perhaps not as bad as THIS if it turns out to refer to Burford Capital which is his second biggest holding in the gated Equity Income Fund (WEIF) – we shall find out at 8am. Yesterday saw his Income Focus Fund (WIFF) lose 0.4% in NAV per unit and WEIF dropped 0.54%.

Muddy Waters set to destroy London company at 8 AM Wednesday - is it Burford?

Published 539 days ago

Legendary bear raider Carson Block, aka Muddy Waters Research, is set to publish a bombshell dossier tomorrow at 8 AM GMT. Given the tweet below there is fevered speculation that it is a London listed company and speculation is centring on Neil Woodford dog Burford (BUR) shares in which are off by 15% as I write. Two things to note:

Redemptions Watch: Income Focus suffers in market meltdown & redemptions still biting

Published 539 days ago

You have to have a tiny bit of sympathy for Neil Woodford (just a tiny bit, mind) this morning after yesterday’s market sell-off as the FTSE 100 dropped 2.5%: unless you were in gold (smile….) everything that moved was heading south. So it is little surprise that Woodford’s Income Focus Fund dropped 2.63% in NAV per unit – even if the drop was a little more pronounced...

FCA confirms Tom Winnifrith scoop. SVS is in special administration and something smells badly wrong

Published 540 days ago

The FCA has just issued a statement to confirm our story of last Friday that SVS is in special administration. It is full of details on the compensation scheme but the line which stands out is that it acted on a tip-off over where SVS was investing clients’ money. Ouzo time for Tom, then, but sackcloth and ashes for SVS clients...

ShareProphets readers tips for 2019 competition – end July update

Published 540 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

Neil Woodford Dog Verseon joins his 90% club. Is it insolvent and when is the crash landing due?

Published 540 days ago

Neil Woodford is in the press for all sorts of things – bashing by the Daily Mail (another one today), his partner selling his house -The Times which also tells us that he is moving out of biotechs. And on that score, I see that AIM-listed Verseon (VERS) has more than halved in price over the last few days. We’ve not had a statement from the company, although I fancy it is running out of cash quickly, but it seems that someone was very keen to get out last Thursday.

Tom Winnifrith Bearcast: another day of shame and pointlessness for the Financial Mail on Sunday

Published 541 days ago

Rob Terry, Jamie Nimmo, Jeff Prestridge, Neil Woodford, another pointless day of shame for the, increasingly limpdick, Financial Mail on Sunday. I discuss this plus why I do not want to come back to the UK after a chat with lovely Eleni and others here in Kambos in today's bearcast

Notes from Underground - Are we in a Commodity Super Cycle?

Published 541 days ago

This week is another chart, from Visual Capitalist, on commodity trends, for what it is worth. Are we in a new Supercycle?

Tom Winnifrith Bearcast: Focussing on shysters - SVS, Frontera & the Woodford Empire

Published 542 days ago

In today's podcast I point fingers at who should be sent to jail or drummed out of the City as I look at new developments at former AIM Casino darling Frontera (FRR), the late lamented SVS Securities and at the crumbling empire of Neil Woodford and Woodford Patient Capital Trust (WPCT).

Redemptions Watch – a bad day for Neil Woodford’s Income Focus Fund, but WPCT shows where the real damage is occurring

Published 542 days ago

We had a good day, now we’ve had a bad one. But it makes little difference: redemptions continue regardless at Neil Woodford’s Income Focus Fund (WIFF). According to Morningstar, yesterday saw a fall in NAV per unit of 1.03% which should have dropped the total fund size from £284.9 million to £281.97 million. And why is WPCT's share price still collapsing?

Redemptions Watch – a good day for Neil Woodford’s Income Focus Fund as Kier reassures

Published 543 days ago

The big news yesterday was that Kier Group (KIE) decided to rush out a trading statement after all, having quietly tried to side-step one on 30 July. It is good to see the management in full control! But the statement did not seem so bad and the shares shot higher by around  a third, which was really good news for Neil Woodford, who holds around 15% in his funds. The other good news was the dividend, which actually went up on a year ago. Sackcloth and ashes for me.

You could not make it up – look who is sponsoring the crony capitalist beanfeast that is the AIM Awards

Published 543 days ago

Each year 1200 crony capitalists dress up in DJ’s and party frocks to attend the AIM awards dinner. Of course, ultimately, it is shareholders like you, ordinar investors,  who pay for this obscene bean feast. They put up the cash the companies pay the advisers who then book the tables at thousands of pounds a pop. Shareholders lose money on AIM, fat cat directors and crony capitalists swill champagne at their expense. What is not to like? So which fine firms are sponsoring this year’s event? You could not make this up…

Redemptions Watch – Neil Woodford’s Income Focus slides on silence from Kier

Published 544 days ago

Oh dear, Kier! Neil Woodford’s last Hail Mary - otherwise known as his great gamble on Kier Group (KIE) - put a hole in his Income Focus Fund (WIFF) as investors realised that the promised end-of-July trading update wasn’t happening and WIFF lost a chunky 1.08% in NAV per unit yesterday, according to Morningstar. And having battled back to £290.20 million, the fund fell away to £286.74 million...

BREAKING: Atom Bank – FY report from this Neil Woodford cash-guzzler shows what a non-investment it is

Published 545 days ago

Neil Woodford cash-hungry dog Atom Bank has produced its Annual Report for the year to March 2019. As you can see HERE  it is a beautiful document full of nice pictures and lots of blurb to keep the sheep happy. But no amount of presentation can hide the truth: it burning cash and – incredibly – lending at a loss! That’s not a business, that’s a charity!

EXCLUSIVE: Kier & its postponed Trading Statement

Published 545 days ago

There should have been a trading statement from Kier on 30^th July. There has not been. Why?

Redemptions Watch: Neil Woodford’s Income Focus heads north – but so do redemptions in critical week

Published 545 days ago

You can’t beat a spot of bad press and Neil Woodford has certainly had his fair share, again renewed over the last few days, with the revelation that he dumped around £1 million worth of WPCT three weeks previously and the continued gating of his flagship fund. Meanwhile, this morning’s data from Morningstar shows that whilst his lesser (but at least still open for business) Woodford Income Focus Fund (WIFF) put on 0.48% in NAV per unit yesterday.

FREE Podcast: ShareProphets Radio Edition TWO with Tom Winnifrith

Published 545 days ago

Once again, please excuse my croaky voice. In this second edition of the ShareProphets Radio podcast sponsored by Riverfort Global Capital, this week, in order I discuss the cowardice of a well known AIM CEO, interview bear raider Lucian Miers on a wide range of subjects including Tesla, Neil Woodford and WPCT, IQE, Purplebricks, UK Oil & Gas, Thomas Cook and cannabis, I then interview value blue chip investor Chris Bailey on, inter alia, Tesla, EasyJet, Imperial Brands, Woodford, Burberry, Dignity, and St James Place. Enjoy. If you like this and can't wait seven days for more of the same you should listen to my Bearcast every day.

Redemptions Watch: Neil Woodford’s Income Focus Fund gains... but will WEIF fiasco renew redemptions?

Published 546 days ago

Neil Woodford’s Income Focus Fund (WIFF) had a good day yesterday as it put on 0.53% in NAV per unit, according to Morningstar. Mind you, the FTSE-100 put on 1.8% and the FTSE All-Share index added 1.5%, so it wasn’t all that great. But a gain is a gain. In theory, that should have pulled the total assets up from Friday’s close of £287.65 million to £289.17 million...

BREAKING: Woodford Equity Income Fund – gating to last into December at least, according to Link

Published 547 days ago

It is just out – this month’s review of the gating of Neil Woodford’s Equity Income Fund by its authorised corporate director, Link. The news is not good...

Woodford joke Proton Partners announces GM to change to a plc, but is the end nigh for Neil?

Published 547 days ago

NEX lobster-pot listed joke Proton Partners (PPI) has announced its intention to switch its registration to that of a plc and has called a general meeting to approve a number of changes which need to be made. But it looks to me as if Woodford Patient Capital (WPCT) is being lined up to take the rest of the shares in return for the rest of the £80 million - £45 million, following the £10 million and £25 million already ponied up – that Neil Woodford promised in order to get the listing away. That’s a problem for WPCT, which has today signalled that it may or may not (you can bet “will”) sack Neil Woodford. That’s a problem for Proton Partners and a big problem for Neil...

Tom Winnifrith Bearcast: Jim Mellon's cultured pork sausage and Neil Woodford's porky pies

Published 547 days ago

In today's bearcast I touch on the antics of two of the City's brightest lights. First up is Agronomics (ANIC), where my old friend Jim Mellon is the largest shareholder and the price of cultured pork sausages in 2021, then it is onto disgraced Neil Woodford and Woodford Patient Capital Trust (WPCT).

Neil Woodford – a load of excuses tosh as he dumps WPCT. How long until he is fired?

Published 547 days ago

Two bits of news from Woodford Patient Capital Trust suggest that Neil Woodford is on his way out – or at least believes he is. Firstly, the Board at WPCT intends to tout third-party managers which may or may not result in a change of manager. But secondly, Neil has been dumping his own shares in WPCT – apparently to meet personal financial obligations, including a tax liability. Given that he has trousered tens of millions of pounds from Woodford Investment Management (WIM) over the last few years, that sounds like utter hogwash to me.

Dividend Munchers - a long overdue update as one elephant tries to gallop and a new addition

Published 547 days ago

My mini dividend munchers portfolio is still ticking along, and an update is long overdue as we head into the summer holiday season - as I’ve not written about it for three months or so. The aim was to beat putting cash in the bank even though markets are feeling very toppy. After all, interest rates available are below the rate of official inflation figures and bonds yields are rubbish. So how am I doing?...

Tom Winnifrith Bearcast: Why Monkey must resist temptation so much, part 2

Published 548 days ago

In today's podcasts I look at calls to ban OIECS, Unit Trusts, in the wake of various disasters include the Neil Woodford affair and make my own suggestion of reform. I also again look at commercial property stocks and an unfolding catastrophe hitting the sector.

Notes from Underground - Opti, Gold, a Grego short, Woodford, and Atlantic Carbon

Published 548 days ago

You could not dream up a more perfect weekly reader's top five articles than what we got this week.

Redemptions Watch: Neil Woodford’s Income Focus fund – still redemptions every day

Published 549 days ago

Neil Woodford’s Income Focus Fund (WIFF) put on 0.3% in NAV per unit yesterday, according to Morningstar. In theory that should have increased the size of the fund from the previous close of £287.15 million to £288.01 million before redemptions.

Redemptions Watch: Neil Woodford’s Income Focus fund – still redemptions every day

Published 550 days ago

Neil Woodford’s Income Focus Fund put on a modest 0.12% in NAV per unit yesterday, according to Morningstar. In theory that should have increased the size of the fund from the previous close of £287.08 million to £287.42 million before redemptions.

Red Flags at Night from the Woodfjord Kennel (again) as Neil bails it

Published 551 days ago

Having released FY18 numbers at eleven minutes past one in the morning and then last week announced massive redundancies at 6pm on Friday, Oslobors-traded Thin Film (THIN) has a bit of a track record for slipping ouit calamitous news at no-one-is-watching o'clock. And so last night at thirty seconds to 9pm……

Redemptions Watch: Neil Woodford’s Income Focus Fund has a better day (of sorts) as a critical week looms

Published 551 days ago

Neil Woodford’s Income Focus Fund put on 0.39% in NAV per unit yesterday – not bad, given that the FTSE100 dropped 0.7% and was even lower at lunchtime when the figures were calculated. That should have increased the size of the fund from £286.21 million to £287.33 million before redemptions...

Redemptions Watch: Neil Woodford’s Income Focus fund still sinking

Published 552 days ago

The bad news for Neil Woodford is that his Income Focus Fund slipped again yesterday by a modest 0.14%. That should have seen the fund size drop from £287.25 million to £286.85 million – very modest. But of course that was before redemptions.

FREE Podcast: ShareProphets Radio Edition 1 with Tom Winnifrith

Published 552 days ago

Excuse my croaky voice. In this inaugural edition of the ShareProphets Radio podcast sponsored by Riverfort Global Capital, this week, in order I discuss the pot bubble, interview Nigel Somerville on Neil Woodford, flag up my next 3 FRC PLC victims, interview outspoken broker Andrew Monk, discuss why CSR is a waste of cash and interview Steve O'Hara of Optibiotix (OPTI). Enjoy. If you like this and can't wait seven days for more of the same you should listen to my Bearcast every day.

Tom Winnifrith Bearcast: Waiting for Jono & another Gabriel Grego AIM bombshell

Published 553 days ago

My fat, drunken, friend Jono from Zimbabwe arrives at the Welsh Hovel shortly and I shall try not to allow him to lead me astray. I also await Gabriel's next bombshell dossier I am to publish tomorrow morning. In this podcast I look at the wider implications of the RM2 (RM2) debacle for Neil Woodford, at IQE (IQE), at Fevertree (FEVR) - hat tip Leon Boros - at St James House (SJH) and at Diversified Gas & Oil (DGOC).

Woodford Dog RM2 – catastrophe as Neil is snookered

Published 553 days ago

After bailing out the ridiculous AIM-listed RM2 (RM2) over and over again with other people’s money before his own supply ran dry, Neil Woodford finds himself completely snookered this morning as RM2 has announced a bailout fundraising without Woodford and he faces the choice now of being diluted to oblivion or watching it go bust. Of course, readers of this fine website have been warned and warned and warned. But Neil always knew best.

Redemptions Watch: Neil Woodford’s Income Focus – half a step forward, two back; when does WIM become non-viable?

Published 553 days ago

This morning’s data from Morningstar shows that yesterday Neil Woodford’s Income Focus Fund put on 0.08% of NAV per unit. That should have increased the total fund marginally from £287.2 million to £287.4 million before redemptions hit...

Neil Woodford’s WPCT and Equity Income Fund – about that transfer of Atom Bank & the missing links

Published 554 days ago

Call me a total pedant, but a question seems to arise over the transfer of shares in Atom Bank from Neil Woodford’s Equity Income Fund (WEIF) to Woodford Patient capital Trust (WPCT) as announced on 1 March 2019.

Tom Winnifrith Bearcast: WPCT directors find their hand forced and cover their arse's on Atom

Published 555 days ago

My voice recovered a bit and so I squeeze out a bearcast covering all developments Neil Woodford including the fury of a lapdog journalist scorned (Jeff PressTrip) but also the awful problems WPCT faces as shown by the Atom Bank news. Put simply, a hopelessly compromised board cannot save this ship.

Weekend non-shocker: Metro Bank and St James's Place keep shooting themselves in the foot

Published 555 days ago

I can tell you two sets of PR advisers who are having a nightmare Sunday morning: anyone involved in running the Metro Bank (MTRO) and the St James's Place (STJ) accounts.  Still - via reading this website over the last few months - neither of the PR nightmares will have come as a shock to all you readers.

Notes from Underground - Shout it loud, shout it proud

Published 555 days ago

The ShareProphets Radio Show is the most popular item on ShareProphets this week. Which is great, but we want it to go so much farther.

Redemptions Watch: Neil Woodford’s Income focus still slipping as redemptions total a third of the fund

Published 556 days ago

This morning’s data from Morningstar shows that Neil Woodford’s Income Focus Fund dropped 0.27% of NAV per unit. That should have knocked the fund down from yesterday’s figure of £288.5 million to £287.7 million before redemptions hit.

Red Flags at Night from the Woodfjord Kennel

Published 556 days ago

I suppose releasing bad news t 6pm on a Friday is a bit of an improvement from releasing calamitous FY numbers at eleven minutes past one in the morning (yes, really!) but it is still very poor form from Woodford Dog Thin Film on the Norwegian OslosBors (THIN). And the news was indeed grim.

Neil Woodford’s Equity Income Fund June report – nothing to see here

Published 556 days ago

Like his Income Focus Fund (WIFF), Neil Woodford’s Equity Income Fund (WEIF) has released its June month-end report and the percentage holdings of the top ten have not been revealed. The top ten has hardly changed and the only notable movement is that the bank overdraft has gone. So what’s the story?

Would you Adam and Eve it: another bailout on the way at a Neil Woodford dog (they hope)

Published 557 days ago

It seems the world of mattresses isn’t going to be revolutionised by Woodford Dog Eve Sleep after all. The company issued a trading update yesterday and for all the waffle the cash looks like it is going to run out again. As with Halosource, RM2 and Thin Film, without Neil Woodford to backstop yet another bailout I think we know the pattern. Oh dear….

Redemptions Watch: Neil Woodford’s Income Focus Fund slips again as June numbers (not) revealed

Published 557 days ago

This morning’s news from Morningstar show that Neil Woodford’s Income Focus Fund yesterday saw NAV per unit slip, albeit by the narrow margin of 0.04%. This should have dropped the fund from its previous total of £288.8 million to £288.7 million but redemptions knocked that down to £288.5 million. The trickle continues. Meanwhile yesterday saw Woodford release its monthly update to the end of June…..

Is this a slam-dunk breach of the rules by Woodford? The Al Capone solution

Published 558 days ago

Andrew Bailey, the head of the FCA, has complained bitterly that Neil Woodford followed the letter, but not the spirit, of the rules in relation to the unquoted holdings within his Equity Income Fund, according to The Telegraph which was reporting on the FCA’s annual public meeting in London on Wednesday.

Redemptions Watch: Neil Woodford’s Income Focus Fund up but redemptions continue

Published 558 days ago

Morningstar has some good news for Neil Woodford’s Income Focus Fund (WIFF) this morning: the units put on 0.56% yesterday (despite its fifth largest holding as at the end of May, Kier Group – KIE - slipping again). That should have moved the total fund size from the previous close at £287.5 million to £289.1 million. That, of course, is before redemptions…..

Redemptions Watch: Neil Woodford Income Focus Fund dribbles lower again

Published 559 days ago

This morning’s data from Morningstar shows that the NAV per unit of Neil Woodford’s Income Focus Fund put on a modest 0.05% yesterday. With the total fund having closed previously on £287.8 million that should have lifted the fund to £287.9 million before redemptions hit.

Kier – What on earth is Neil Woodford doing buying more?

Published 560 days ago

At 11.57 this morning fully-listed Kier Group (KIE) issued a TR-1 via RNS. Nothing unusual about that you might think... but it was notifying that Neil Woodford has once again been buying more shares. What??

Thoughts On Thomas Cook & Kier

Published 560 days ago

I suggested selling Thomas Cook (TCG) back in May at 13p and at 5p today the company is still valued at £75 million. Given Friday’s announcement of the inevitable debt for equity swap, which “is not the outcome any of us wanted for our shareholders”, this is still far too high as will become apparent when the details are released...

Redemptions Watch: Neil Woodford’s Income Focus Fund trickles on down

Published 560 days ago

This morning’s data from Morningstar shows that Neil Woodford's Income Focus Fund dropped 0.29% in NAV per unit on the first trading day of this week.

Notes from Underground: There's gold in them thar joints

Published 562 days ago

Having spent the week in Canada, I was tempted to put up another Visual Capitalist chart about Cannabis, but the latest one was clearly sponsored and had a logo all over it. We at ShareProphets are purer than that.

Tom Winnifrith Bearcast: 2 legal letters and a knobhead from the establishment defends Neil Woodford

Published 563 days ago

Adding to my joy it is off to the mother-in-law's for her Birthday. One lawyer's letter was on behalf of Julie Meyer. I have reported Ms Lingerie on expenses and her lawyer to the North Wales Police in response to the letter you can see here. The other was from Stifel Europe. I discuss Stifel's letter concerning Yourgene (YGEN), Stifel's dire coverage of Woodford Patient Capital Trust (WPCT) and then how Sir Douglas Flint  of IP Group (IPO) - a big short - has come out to bat for Neil. Extraordinary.

Redemptions Watch: Neil Woodford’s Income Focus Fund has a good day

Published 563 days ago

This morning’s figures from Morningstar show that Neil Woodford’s Income Focus Fund had a good day yesterday as NAV per unit moved up by 0.95%. With the fund previously sitting at £286.6 million that should have moved it up to £289.3 million but redemptions trimmed the increase to £288.8 million: another half a Bernie out of the door, then.

Redemption Watch: Neil Woodford’s Income Focus Fund still slipping

Published 564 days ago

This morning’s data from Morningstar shows that Neil Woodford’s Income Focus Fund (WIFF) appears to be stabilising – well, sort of: NAV per unit is marginally up but not by quite enough to cover redemptions...

Redemption Watch: Woodford’s Income Focus heads north (just)

Published 565 days ago

After a few torrid days, Neil Woodford’s Income Focus Fund managed to put on 0.33% in NAV per unit yesterday, according to this morning’s data from Morningstar. With the fund having dropped to £286.3 million on Tuesday, that should have seen it up to £287.2 million before redemptions.

Redemption Watch: Neil Woodford’s Income Focus Fund heads further south as Kier nose-dives

Published 566 days ago

Kier Group (KIE) fell a further 10% yesterday. Given that it was the fifth largest holding in Neil Woodford’s Income Focus Fund (WIFF) – despite offering no income – at the end of May, that’s not a good start and according to Morningstar the fund dropped 0.8% in terms of NAV per share.

Kier – Statement Needed ASAP, shares tumbling and uninvestable amid silence

Published 567 days ago

Yesterday shares in Kier (KIE) fell by 8%. Today they are off by 14% at just 83.5p. There are three possible explanations:

Tom Winnifrith Bearcast: If you are in America go buy a hammer at Home Depot for me today

Published 567 days ago

#BoycottHomeDepot is trending on twitter in the US. If you are in the land of the free I urge you to do the reverse. In fact go buy an extra hammer for me today. Then I look at Thomas Cook (TCG), Sound Energy (SOU), Eve Sleep (EVE), the woes of my old friend Jim Mellon's SalvaRx (SALV), Union Jack Oil (UJO) and, in detail, at FinnCap (FCAP) whose results are out today. Mea culpa on Eve, it is actually worse...

Redemption Watch: Neil Woodford’s Income Focus Fund down as Kier falls again

Published 567 days ago

This morning’s figures from Morningstar show that Neil Woodford’s Income Focus Fund has headed south again, and notched up another new low point yesterday. NAV per unit dropped 0.59% which should have dropped the fund from Friday’s figure of £291.6 million to £289.9 million, but redemptions nibbled away at that.

Are the wheels about to come off Neil Woodford’s Proton Partners valuation?

Published 567 days ago

A stack of TR-1 RNSs yesterday afternoon detailed the transfer of stocks by Neil Woodford, who was sacked by the Omnis Income and Growth fund, to its new manager, Jupiter. Among them was one from Proton Partners (NEX:PPI), which Neil offered a funding commitment to in order to see its joke NEX-listing complete and now can claim an instant profit every time the company calls on him for more money. But there could be a fly in the ointment….

Tom Winnifrith Bearcast - TrakM8 misleads surely a bailout placing needed

Published 568 days ago

In today's bearcast I look at more toxic behaviour at Anglo African Oil & Gas (AAOG), at TrakM8 (TRAK), Bluejay (JAY) and there is more on Woodford Patient Capital Trust (WPCT) and the, slowly detonating, nuclear grenade that is Proton Partners (PPI). I also look at (bad) news from Asos (ASC) and Sosandar (SOS) and wonder if there is something happening in online shopping that we have missed.

Woodford Patient Capital – scary stuff: why the NAV is completely illusory, the hard maths

Published 568 days ago

Lucian Miers warned over the weekend that investors should not be fooled by the discount to NAV apparently on offer at Woodford Patient Capital Trust (WPCT) and in fact the shares are a sell. I’ve been crunching a few numbers and it is scary stuff. Do the hard maths and you see why the stated 83p NAV is pure fiction and will be c40p before too long.

Tom Winnifrith Bearcast: the krypotonite at the heart of Neil Woodford's crumbling empire is Benevolent AI and it is now glowing

Published 569 days ago

Cynical Bear warned Benevolent AI would be Neil Woodford's Kryptonite in May 2018. His coverage before then and his and our coverage since then was amazing and so far ahead of that of the Deadwood Press. The Sunday Times does some "analysis" today and almost gets the same answer we got years ago. Wankers. But it has a new angle: the next funding round will be a savage "down round". I explain why this will blow Woodford apart exposing to all what a greedy charlatan and chancer he is.

Five slam-dunk sells for 2019 – early July edition

Published 569 days ago

With the Neil Woodford debacle I’ve taken my eye off the ball here – many apologies. So here is an update on my five AIM sells for 2019, the first since the end of March.

Redemption Watch shocker: Neil Woodford’s Income Focus Fund yields more ground

Published 569 days ago

Neil Woodford’s Income Focus Fund dropped 0.53% in its NAV per unit on Friday as the fund slipped to another new low point of £291.6 million. Having closed at £293.6 million on Thursday that 0.53% drop should have seen the fund down to £292.0 million but redemptions once again knocked a further £0.4 million form the total.

Notes from Underground - Nothing to worry about Nothing to worry about.

Published 569 days ago

I'm writing this column from beautiful British Columbia, on Canada's West Coast. You have, of course, heard about the earthquakes in California. You probably didn't hear about the earthquakes, which happened around the same time, in northern British Columbia. That puts yours truly right between the two.

Woodford Patient Capital Trust: Don’t be Fooled by 'the Discount to NAV' - sell

Published 570 days ago

At 57.3p the shares in Woodford Patient Capital Trust (WPCT) trade at bang on a 30% discount to stated NAV. There has been an enormous amount written about the Woodford fiasco since it started to unfold but a couple of points are worth making...

Redemption Watch: Neil Woodford’s Income Focus Fund off lows

Published 571 days ago

Good news for Neil Woodford today as his Income Focus Fund is off its low point of yesterday. Hurrah! But what about redemptions?

Neil Woodford’s Equity Income Fund – latest dividend shows what a mess he is in

Published 571 days ago

The latest dividend details have been released by Neil Woodford’s Equity Income Fund (WEIF) and apart from getting the xd date wrong the payment has slipped somewhat.

Redemption Watch: Neil Woodford Income Focus puts in a new low

Published 572 days ago

This morning’s data from Morningstar shows that Neil Woodford’s Income Focus fund (WIFF) put in a new low yesterday in terms of its total assets. There was a 0.38% slippage in NAV per unit, but redemptions again took their toll.

Redemption watch: Woodford Income Focus – time for (other people’s) champagne?

Published 573 days ago

This morning’s numbers from Morningstar show that Neil Woodford Income Focus Fund (WIFF) again had a better day yesterday as the NAV per unit edged ahead by 0.23%. So is it time, finally, for a glass of (someone else’s) champagne? Er….not quite.

AA Group – actions of a well-run company?

Published 574 days ago

AA Group (AA.) has caused Neil Woodford a spot of embarrassment before. After all, he cornerstoned its IPO at 250p but profit warnings and the slashing of the dividend have seen the stock down to 46.66p even though Neil knew best all the way down as he hoovered up more stock at 166p after the profit warning September 2017. Last Friday saw a TR-1 from AA Group…..

Redemption Watch – Neil Woodford’s Income Focus fund

Published 574 days ago

This morning’s numbers from Morningstar show that whilst the FTSE100 raced ahead yesterday, Neil Woodford’s Income Focus fund (WIFF) was in the red – and redemptions again took their toll.

Video: As Woodford's Equity Income Fund gated for another 28 days (at least) Neil explains (unconvincingly) the future

Published 574 days ago

So the EIF is gated for another 28 days. And then, you can bet, it will stay gated. To celebrate this fine achievement, Britain's worst fund manager has recorded a video explaining, inter alia, why he will be selling his favourite stocks and that will lead to EIF outperforming going forward. Whatever.... Neil Woodford talks bollocks (again) is below.

Nobody has a crystal ball but this is not normal

Published 575 days ago

A 1.2% interest rate on a 100 year bond is just not normal. There are so many strange absurdities out there you have to be a bear.

ShareProphets readers tips for 2019 competition – end June update

Published 575 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

Neil Woodford Dog Verseon releases FY18 numbers. Material uncertainty? You bet…..

Published 576 days ago

Tom Winnifrith and I have already stuck the boot into Woodford Dog Verseon (VERS, but formerly VSN) as it raised yet more cash to keep the lights on in March. Of course, that fundraise fell to Neil Woodford who ponied up 105p per share for 7.5 million shares of the 7.7 million share issue. That was bad enough, but being near-enough the only investor in town (armed with other people’s money) he coughed up 105p per share when they were trading at 74p – madness!

Notes from Underground - A Visual History of the Largest Companies by Market Cap

Published 576 days ago

I decided to spare everyone my annual paen to Canada, as it is Canada's National Holiday tomorrow, and stay within ShareProphet's wheelhouse. This chart, from VisualCapitalist.com shows the conversion of the worlds largest companies from providing a wide-range of goods and services in 1999 to being tech (and Johnson + Johnson) in 2019.

Tom Winnifrith Bearcast: Olaf turns 18, Chris Oil turns his portfolio and Boris turns to sordid bribery

Published 577 days ago

In this podcast I reflect on the birth of my daughter Olaf (Olivia) at just 26 weeks, weighing 1lb 4 oz all those years ago as she turns 18 today. I look at Boris Johnson's proposed stamp duty bribe and why it is wrong at every level. I answer the questions I raised yesterday, about Chris Oil's share trading in Union Jack Oil (UJO) and I discuss the "news" (it won';t be to you dear listeners!) that Neil Woodford's Equity Income Fund is being gated for a lot longer than the first announced 28 days.

Redemption Watch: Neil Woodford’s Income Focus Fund – a first!

Published 577 days ago

It looks as though we have a first for Neil Woodford’s Income Focus Fund, for yesterday it appears that for the first time this month the fund actually grew in size. Not by much, you understand, but according to Morningstar the NAV per unit went up by 0.65% and redemptions were at last lower than that. So on the last trading day in June, the Income Focus fund grew for the first time in a month. Pop out the champagne!

Neil Woodford’s Patient Capital updates….Oh Dear, this is bad news for everyone!

Published 578 days ago

Reading between the lines of today’s missive from fully-listed Woodford Patient Capital Trust (WPCT), it looks as though a flock of chickens is coming in for the evening at Woodford Towers. They may be there for some time as the implications from today’s WPCT RNS is that it’s portfolio of cash-guzzling dogs is about to be hammered, despite the squirmings of the WPCT board.

Tom Winnifrith Bearcast: Brokerman Dan joins me to discuss UK Oil & Gas and the Weald Basin disaster

Published 578 days ago

In the first half of this podcast as I look at UK Oil & Gas (UKOG), Angus Energy (ANGS), Brockham, Horse Hill and the Weald Basin ramp I am joined by comrade Brokerman Dan. Then, alone, I look at Woodford Patient Captal Trust (WPCT) including the key missing info in today's bullshit RNS, Costain (COST), Versarien (VRS) and Mirriad (MIRI).

A senior accountant looks at Burford Capital

Published 578 days ago

With the added bonus that kiss of death. disgraced fund manager Neil Woodford is a major shareholder, the bears are certainly sniffing around litigation funding giant Burford Capital (BUR). Our own Nigel Somerville expressed his concerns here. One bear (Paddington) has asked if this is the new Quindell (QPP) in terms of revenue recognition. So I asked a former partner of a big 4 accountants to review the 2018 accounts. He notes:

Photo Article: His customers may not have any yachts any more but Neil Woodford's has been spotted

Published 578 days ago

Surely the yacht below must belong to Neil Woodford?

Redemption Watch: Neil Woodford’s Income Focus fund – down and down

Published 578 days ago

Yesterday I reported that Neil Woodford had had a (relatively) good day with his Income Focus Fund (WIFF) in that the NAV per unit had risen – even if redemptions had almost cancelled out the rise – leaving the fund with £298 million of assets. This morning’s news from Morningstar shows NAV per unit dropped gain yesterday and redemptions continued. It’s down and down.

Neil Woodford – banks BCA cash with undue haste

Published 579 days ago

Whilst the likes of Invesco had offered formal undertakings to accept the offer form BBD Bidco for shares in BCA Marketplace (BCA), Neil Woodford only offered a letter of intent to vote for the deal. Of course, the deadwood press was full of how Neil was supporting the offer. Well….

Neil Woodford’s Income Focus Fund – good news….well, sort of

Published 579 days ago

This morning’s figures from Morningstar show that Neil Woodford’s Income Focus fund (WIFF) had a better day yesterday as NAV per unit increased by 0.56%. Hooray! Well, that’s the good news. As for the bad news….

Tom Winnifrith Bearcast - Don't follow Chris Akers blindly you may get burned

Published 580 days ago

In today's podcast I look at RM2 (RM2) and the implications for Neil Woodford, Two Shields Investments (TSI) and Chris Akers,  RPS (RPS), Sareum (SAR) and Westminster Group (WSG).

Neil Woodford’s Income Focus fund - down again as £493m fund (at end-May) falls below £300m

Published 580 days ago

It must be some kind of record: at the end of May Neil Woodford Income Focus fund was worth £493.4 million. Yesterday the fund had collapsed to just £297.6 million – a drop of 40% in less than a month.

SCANDALOUS: 67% Neil Woodford owned dog RM2: I demanded a statement, it’s here and its grim

Published 580 days ago

On Monday I demanded that RM2 (RM2) make a statement to cklarify its (grim) financial position. Today it has obliged and this maker of “disruptive” pallets where Woodford Investment Management funds have a 67% stake looks to be utterly fecked.

Tom Winnifrith Bearcast - does Arden need to issue a warning?

Published 581 days ago

In today's bearcast I touch on Neil Woodford and the duffing up he is getting today from Andrew Bailey head of the chocolate teapots at the FCA. Then I comment on Optibiotix (OPTI), RedT Energy (RED), Remote Monitoring Solutions (RMS)_ - formerly the criminal dog Strat Aero - RM2 (RM2) and Arden Partners (ARDN) 

Tom Winnifrith Bonus Bearcast: WPCT, Proton, EIF, valuations, Neil Woodford's greed and FCA box ticking fail (again)

Published 581 days ago

In this bonus bearcast I look at the failure of the FCA & Link with regard to box ticking and the correct valuation of Proton Partners in light of the latest £25 million fund-raise. This just cannot be right.

Neil Woodford Income focus – another day, another round of redemptions. What about liquidity?

Published 581 days ago

And so Neil Woodford lives to fight another day with his Income Focus fund (WIFF) – well, at least one! This morning’s figures from Morningstar will offer him no comfort at all, however, as the NAV per unit shrank again and the outflows from redemptions continued. A double whammy.

Top Fund manager Paul Jourdan of Amati slates disgraced Neil Woodford

Published 581 days ago

Amid calls from ignorant politicians and former members of the Woodford fan club, for reform of the Unit Trust industry in the wake of the Neil Woodford scandal, Paul Jourdan of Amati has explained in detail the bleeding obvious: Woodford's own actions caused his downfall. As I noted some weeks ago there is no need to reform the industry just send Neil Woodford to jail. Jourdan is not quite as explicit as I am but is scathing. He writes:

A Welcome Slice Of Luck and Thoughts On Purplebricks

Published 581 days ago

It is not easy being predominantly short in a market that is yet again flirting with all time highs and so a bit of luck is always welcome...

WPCT Is inside overdraft limit but only just - PR confirms

Published 582 days ago

I asked the question in bearcast - had Woodford Patient Capital Trust (WPCT) burst its overdraft limit? Nigel Somerville thought it had. The PR has got back and it has not. But it is darn close and the answer is actually even more worrying. Let me explain.

Tom Winnifrith Bearcast - questions for the PR spinners for Neil Woodford

Published 582 days ago

In this bearcast I ask a series of questions for PR spinners for Woodford Patient Capital Trust (WPCT). References to 210p should be 227p. Let's see what answers I get. I also look at Optibiotix (OPTI), RM2 (RM2), Mysale (MYSL), Agronomics (ANIC) and have a big question for Neill Ricketts and Versarien (VRS)

Neil Woodford dog RM2 shares collapsing – statement needed ASAP

Published 582 days ago

A week ago shares in “disruptive pallets” Neil Woodford dog RM2 (RM2) were 38p. Today they are off by almost 20% at 28.5p and surely a statement is needed. It cannot be good news. And this is why.

Tom Winnifrith Bearcast - WTF? the Daily Mail says WPCT has no problems..er Proton?

Published 583 days ago

Lucy White of the Daily Mail is either the stupidest bint on Fleet Street or takes dictation from WPCT's PR spinners. I discuss her laughable piece on Proton Partners and the stricken Neil Woodford Patient Capital Trust.

Neil Woodford’s Equity Income Fund – May portfolio update is just shocking.

Published 583 days ago

I covered the May portfolio update from Neil Woodford’s Patient Capital Trust (WPCT) earlier today. Now I turn to his gated Equity Income Fund (WEIF). As a starting point, I note that its borrowings were up to 2.64%. With the fund valued at £3.7 billion it means the gating started with the massive headwind of a bank overdraft of £97.7 million which we have subsequently learned that the bank has demanded settlement of. Not a good start for a fund which was gated the next trading day facing, we learn, almost £300 million of redemptions. So Neil has to find £400 million just to pay that lot off.

WPCT – May month-end numbers a shocker as Neil appears to bust the overdraft limit

Published 583 days ago

The May month-end numbers from Neil Woodford’s funds are out and the numbers at Woodford Patient Capital Trust (WPCT) are really horrible. Just as horrible is that since the end of May the NAV per share has dropped sharply from 89.61p to the current figure of 83.79p – a drop of 6.5% in just three weeks. Bearing in mind that most of WPCT is unlisted, that’s some going.

Notes from Underground - Sell me this pen

Published 583 days ago

I took this picture on the plaza at Kings Cross Station in London last night. What is an immersive experience of 'The Wolf Of Wall Street?' Hell if I know. Maybe you get to crawl across the floor on a 10 year old qualude or get arrested by the actors wearing FBI jackets to the music of Simon and Garfunkel.

Bulletin Board Moron of the Week Contest – Versarien edition

Published 584 days ago

It seems as if Versarien (VRS) owning morons take particularly badly to exposes on how senior execs may be fraudsters and are certainly liars and respond with abuse for the messengers. And thus in honour of these prize poltroons Bulletin Board Moron of the Week is back. Simply post the most moronic comment found on twitter or the LSE, ADVFN or iii asylums in the comments section below. It does not have to be about Versarien but moronic deadwood press Neil Woodford articles by Ali Hussein or Jeff Presstrip are not eligible. The deadline for entries is midnight Saturday and the winner will receive a mythical photo of Julie Meyer filling in a tax return.

Woodford Dog Kier – oh dear, anyone for a stock overhang?

Published 584 days ago

I predicted that Neil Woodford’s replacement at St James’ Place would not hang around dumping the 5% of Kier Group (KIE) received when Woodford was sacked – and so it has proved.

Neil Woodford’s Income Focus fund – down again….will it be gating o'clock on Monday?

Published 584 days ago

Neil Woodford’s Income Focus fund (WIFF) has taken a real beating since his Equity Income fund (WEIF) was gated. This morning’s figures from Morningstar show that the units dropped 0.5% yesterday – but redemptions saw yet more funds withdrawn.

Woodfjord Dog Thin Film cancels fundraise – when will the fat lady sing?

Published 584 days ago

Neil Woodford’s last few remaining pennies invested into Oslobors-listed Thin Film appear to be heading for money heaven: this morning the company cancelled a fundraise announced earlier this week as it seems that nobody was interested. With the last remnants of its cash running out, a trip to the corporate undertakers seems odds-on.

Tom Winnifrith Bearcast: Jeremy Hunt's kind words for a fraudster who stole from you and me

Published 585 days ago

I start with a few words on comments from Jeremy Hunt showing why the entire political class deserves an encounter with an asteroid, his contempt for the victims of crime (you and I the taxpayer) and his support for a fraudster. I look at IQE (IQE), Nanoco (NANO), Agronomics (ANIC), Andalas (ADL), Thin Film (another Neil Woodford disaster) and RM2 (RM2). And now I must rush, more tomorrow.

Woodford Income Focus: stocks gain, redemptions still biting and HL bang on the money

Published 585 days ago

Tick-tock, tick-tock….another day and another day of redemptions at Neil Woodfords lesser dog fund. I calculated yesterday morning that his Income Focus fund (WIFF) had closed at £313.8 million on Wednesday and according to Morningstar yesterday the NAV per unit increased by 0.47%. So that should have raised WIFF to £315.3 million before redemptions.

Tom Winnifrith Bearcast - egg on face as BCA gets a PE bid

Published 586 days ago

The big excitement today is the foiling of the plans of the Mrs to turn our cats into vegan, Guardian-reading, little darlings. I discuss that and the arrival of the tile polishing man at the Welsh hovel - photos HERE. Then I look at BCA Marketplace (BCA), Neil Woodford, Brave Bison (BBSN), Big Dish (DISH) and Dev Clever (DEV) as well as the general market frothiness.

Brave Bison – not so brave Neil Woodford!

Published 586 days ago

Amongst this morning’s crop of RNS announcements was a TR-1 from AIM-listed Brave Bison (BBSN). I can’t say that I’m an expert on this one, but I do know that Tom Winnifrith and Steve Moore have had some fun with it in the past and that it seems to have been a bit of a cash-guzzler. Steve Moore’s last comment being avoid would perhaps sum it up.

Neil Woodford’s Income Focus fund: redemptions still in full flow.....surely this can’t go on much longer

Published 586 days ago

This morning’s figures from Morningstar for Neil Woodford’s beleaguered Income Focus Fund (WIFF) required a bit of legwork to get the total size of the fund, as it has not (yet) been updated. The good news is that the sub-fund sizes have been updated so we can calculate the total fund size after all: no effort is spared for you, dear reader. Hooray! The bad news ... well that is more redemptions for Neil Woodford to meet.

Happy Birthday Neil Woodford, for today WEIF is five (and suspended)

Published 587 days ago

It must be a pretty rare thing to get suspended before reaching the age of five – I wonder how many children have achieved that. But Neil Woodford is the great disruptor so perhaps he should indeed be the exception and today is the fifth birthday of his Equity Income Fund. Let us all celebrate!

Neil Woodford’s Income Focus fund: down again as redemptions bite once more & hard!

Published 587 days ago

After a couple of days of relatively light redemptions, Neil Woodford is once again facing a wall of demands for cash out of his Income Focus Fund (WIFF). Data from Morningstar this morning shows that whilst the NAV per accumulation unit put on a measly 0.01%, the fund dropped heavily in magnitude yesterday: redemptions are back in spades.

Breaking: Neil Woodford under formal FCA investigation, flagship fund was being monitored from April 2018

Published 588 days ago

Maybe someone at the FCA has been reading our four years of groundbreaking Neil Woodford exposes after all. This afternoon its boss Andrew Bailey has written to Nicky Morgan MP with detailed information and the shock revelations that the FCA was monitoring toxic Neil from April 2018 (but did nothing) and that Woodford is now under a formal FCA investigation over the suspension of his flagship Equity Income Fund. The letter also reveals that the banks have now pulled the plug on EIF's "emergency overdraft" which has been utilised for 18 months as a "temporary measure."  The leter is in full below.

Tom Winnifrith Bearcast: Bear Raid on Future PLC - shares could still halve from here

Published 588 days ago

In today's podcast I look at Union Jack Oil (UJO), Sound Energy (SOU), Westminster Group (WSG), PCG Entertainment (PCGE), Bluejay (JAY), why Nigel Somerville is, today only, wrong about Neil Woodford, Future (FUTR) and Staffline (STAF).

New Big Short Dossier - are Neil Woodford's pals at IP Group running out of money & its opaque accounts

Published 588 days ago

In a bearcast last Thursday I discussed the complex relationships between IP Group (IPO) and disgraced Neil Woodford. They stink and IP, at 74p capitalised at £784 million, will be dragged into this scandal and that alone makes it a toxic investment. But there is a bigger reason why this company is a compelling short...

Neil Woodford Income Focus fund: redemptions continue – but where are the sales?

Published 588 days ago

The numbers from Morningstar this morning show that Neil Woodford lesser hound, the Income Focus fund (WIFF), was once again suffering significant redemptions yesterday. Surely the end beckons.

Tom Winnifrith Bearcast: the debt markets are screaming out that Thomas Cook shares are toast

Published 589 days ago

Sorry for the late podcast but I have spent most of the day renovating another room in the Welsh Hovel. I may post some pictures later but it is far more entertaining than even writing about Neil Woodford's woes or Julie Meyer's lingerie. In today's podcast I look at Thomas Cook (TCG), Audioboom (BOOM), Kier (KIE), Staffline (STAF), Dev Clever (DEV) and the Woodford Patient Capital Trust (WPCT), where, of course, I remain a loyal shareholder. Ho. ho. ho.

Neil Woodfjord (Geddit?) dog Thin Film launches fundraise seemingly without Woodford. Uh-Oh…..

Published 589 days ago

Having promised to raise funds in May, OsloBors-listed Thin Film (THIN) has finally got around to launching its tin-rattling exercise. But having been promising funding by the end of May (having admitted that it did not have sufficient funds for the year), the last we heard (on 31 May) was that it was in the process of finalizing details of the forthcoming equity issue to secure adequate financing which drew a cynical response from me. Well, the truth is out now…..

Neil Woodford disaster Kier turns into omnishambles, shares slide (AGAIN) by 10%

Published 589 days ago

You heard it here first, folks: I said Kier would drop its dividend and today it has for the next two years. But worse still, it has now ‘fessed up that (even after the disaster that was the rights issue which fell to the underwriters) it is over-indebted. This morning’s statement is a horror show from start to finish.

Hargreaves Lansdown – Woodford Equity Income Fund holdings in the lead up to gating as May figures come out: oh dear.

Published 590 days ago

Last weekend I started a series of articles asking the question as to whether Hargreaves Lansdwon (HL.) was encouraging its users to buy Neil Woodford’s now stricken flagship fund, the Equity Income fund (WEIF), whilst dumping it from its own house funds.

Shocker: Neil Woodford Equity Income fund will be gated until Easter at least

Published 590 days ago

We have speculated about how much cash Neil Woodford needs to raise within his sunken flagship fund, the suspended Woodford Equity Income Fund (WEIF), in order to get the current gating lifted. Of course, because it wasn’t really an equity income fund at all due to the massive exposure to unlisted and illiquid holdings in companies that not only offered no dividend but actually need feeding so that will be quite an ask. We know that it had been suffering redemptions at a rate of about £10 million a day until the shutters came down when Kent County Council asked for its £238 million back on June 3rd. So that’s about £250 million (Kent plus that day’s redemption requests) already.

Tom Winnifrith Bearcast: Neil Woodford, Luke Johnson and scumbag pond life journalists like Ben Harrington & Ali Hussein

Published 590 days ago

In today's bearcast I look at "lucky" Luke red flags and Patisserie Valerie, Neil Woodford, Babcock (BAB) and sumbag, lying or disingeneous, pond life journalist scum such as Ali Hussein, Sabah Meddings, Jamie Nimmo and the fraudster's fave journo Ben Harrington.

Notes from Underground - To the mainstream media, Neil Woodford just fell into their laps

Published 590 days ago

You, dear reader, know that the Neil Woodford story has largely been driven by ShareProphets (in particular, Nigel Somerville, Cynical Bear, and Tom Winnifrith) over the past two years so I hope that you are shocked by the lack of recognition we get from the Mainstream Press now that they have discovered the story.

Neil Woodford disaster zone Kier plunges another 36%

Published 591 days ago

Not so long ago Neil Woodford was telling his investors that fully-listed Kier Group (KIE) was just the perfect investment. Then came the rights issue which flopped and fell to the underwriters. And then came the admission that it had mis-stated its debt position. And then a new CEO who immediately launched a strategic review. And then a profit warning. And yesterday The Times reported that Kier was looking at off-loading its house building arm as its suppliers were being refused insurance on Kier’s bills. But of course Neil knew best: as the shares collapsed from well over £8 a pop ahead of the rights issue fiasco to close yesterday at a new low point of 130.8p, until his Equity Income Fund was gated, Neil was keenly buying up ever more of Kier’s shares,, taking his stake to 20% at the peak.

Woodford Income Focus: a better day yesterday – redemptions only £2.6m (thankful for small mercies)

Published 591 days ago

So Neil Woodford has survived to the end of the week without seeing his lesser fund, the Income Focus Fund, gated. It cannot be far off, but yesterday’s numbers released this morning by Morningstar show that the accumulation units dropped by 1.24% and the size of the fund dropped from £339.6 million to £332.8 million which means that just £2.6 million was lost to redemptions – less than one percent.

Tom Winnifrith Bearcast: should Neil Woodford go to prison?

Published 592 days ago

I start with reports in the Times about share sales by EIF over the past week which just go to show that this fund will be gated until Christmas or beyond. Then I discuss whether Neil Woodford should go to prison for what he has done and having considered the evidence I argue that he should.

Neil Woodford’s Income Focus Fund: Shamed Hargreaves Lansdown may have dumped but redemptions continue apace

Published 592 days ago

Yesterday we learnt that Hargreaves Lansdown (HL.) had run for the hills with Neil Woodford following the gating of his Equity Income Fund (WEIF), dumping the whole of the £45 million stake held by its house funds in his smaller dog fund, the Income Focus Fund (WIFF) since last Monday. So the redemptions have stopped? Er, no.

Hargreaves Lansdown's own funds dump Woodford Income Focus completely

Published 593 days ago

Citywire has reported this afternoon that Hargreaves Lansdown (HL.) has exited its position in Neil Woodford’s smaller dog fund, the Income Focus fund with regard to its house Multi-Manager funds. This, after dropping the fund from its Wealth 50 last week and telling investors there that if the income was not important to them they should consider their position.

Tom Winnifrith Bearcast - IP Group is surely a stonking Woodford short as its next placing looms

Published 593 days ago

In today's bearcast I comment on Quindell fraudster  Rob Terry in light of my earlier artice, I look at the FRC, PWC and Redcentric (RCN), ValiRx (VAL), Plutus Powergen (PPG) and at Neil Woodford and IP Group (IPO) which might be next to unravel as the contagion spreads.

Neil Woodford’s Income Focus Fund – another stack of redemptions yesterday as losses post EIF gating hit almost £130 million

Published 593 days ago

For those of you who read The Times I bring you tomorrow’s news today: Neil Woodford’s Income Focus fund has continued its downward path. Yesterday I noted that it had suffered over 5% of redemptions in a single day, so how do the latest figures (to yesterday lunchtime) compare?

Julie Meyer - my response to fascist lawyers letter, time for me to go to the North Wales Police

Published 593 days ago

Julie "lingerie on expenses" Meyer's 30th firm of lawyers, Tweeds, sent me a fascist lawyers letter 13 days ago as you can see HERE.  I have ,today, responded. If they were expecting a climbdown they will be disappointed.  My letter to lawyer Peter Mcgrath follows:

Tom Winnifrith Bearcast: back to BCA, the Big Short & timing Woodford's next gating

Published 594 days ago

Sorry for the late bearcast, I enjoyed a long chat with Reuters (see Roger Lawson not all the deadwood press hates me!) on when Neil Woodford's Income Focus Fund will be gated. It is a when not an if and I discuss what is going on under the surface. Then it is on to Pendragon (PDG) and BCA MarketPlace (BCA) which is more of a BIG SHORT - than ever. I look at Big Sofa (BST), Amphion (AMP) which looks like a zero and finally, in some detail, UK Oil & Gas (UKOG). Now back to the rising water levels at the Welsh Hovel.

Allied Minds unhappy shareholder rails against executive greed

Published 594 days ago

I suppose Neil Woodford does not care about executive greed at Allied Minds (ALM), people in glass houses, etc, etc. But it seems as if Richard Bernstein of Crystal Amber is not quite such a happy camper and is particularly pissed that the fat cats refuse to discuss it with him. He has now taken to twitter to express his ire as you can see below.

Neil Woodford’s Income Focus Fund – redemptions accelerating as the fund loses more than £100m in Eight days

Published 594 days ago

This morning’s data from Neil Woodford’s Income Focus Fund (IFF) will be a real worry for Nomates. As at midday yesterday, the NAV of the accumulation units had slipped slightly by 0.33% but the size of the fund plunged to £371.31 million.

BREAKING: Neil Woodford begs IFAs to stick with him in an email which is just not true

Published 594 days ago

Disgraced fund manager Neil Woodford has sent an email to IFA's begging them to not only stay with him but to send a templated email to their clients urging them to do the same. The Woodford email is below and, sadly, scores low on the veracity front.

Has HL been telling investors to buy Neil Woodford’s Equity Income Fund when it was selling? Part 6, HL MM Balanced Managed trust: clean bill of health, more-or-less.

Published 595 days ago

Over the last five articles looking at the Hargreaves Lansdown (HL.) multi-manager funds I have found two cases where they were selling Neil Woodford’s flagship fund, the Woodford Equity Income fund, whilst retaining it on the recommended Wealth 50 list, one where the jury is out and two where there is no case to answer. I now move on to the Hargreaves Lansdown Multi-Manager Balanced Managed trust (HL MM BM).

Has HL been telling investors to buy Neil Woodford’s Equity Income Fund when it was selling? Part 5, HL MM Strategic Assets trust: no complaint here.

Published 595 days ago

Over the last four articles looking at the Hargreaves Lansdown multi-manager funds I have found two cases where they were selling Neil Woodford’s flagship fund, the Woodford Equity Income fund, whilst retaining it on the recommended Wealth 50 list, one where the jury is out and one where there is no case. I now move on to the (relatively) much smaller Hargreaves Lansdown Multi-Manager Strategic Assets trust (HL MM SA).

Tom Winnifrith Bearcast - the gender pay gap in football & £3m coke & hookers money from the sorry Mporium saga

Published 595 days ago

I start with a discussion of the gender pay gap in football and why it is so much hogwash. Then I look at Neil Woodford and the useless FCA. Then I cover two stocks I own, Fox Marble (FOX) and Venn Life (VENN), and two which I don't Ted Baker (TED) and then a long term target of mine MPorium (MPM), a tale of AIM woe.

Has HL been telling investors to buy Neil Woodford’s Equity Income Fund when it was selling? Part 4 – the HL MM Special Situations trust: case dismissed

Published 595 days ago

Over the past three articles it has become obvious that two out of the three Hargreaves Lansdown (HL.) multi-manager funds I have looked at were dumping Neil Woodford’s Equity Income Fund (WEIF) even though the funds themselves were growing, whilst HL was still promoting WEIF to its private clients. The third I felt was too close to call. In part four I look at the Hargreaves Lansdown Multi-Manager Special Situations Trust (HL MM SS).

Neil Woodford’s Income Focus Fund – redemptions continue as gating or just oblivion beckons

Published 595 days ago

This morning’s data from Neil Woodford’s Income Focus Fund (IFF) must be a worry as redemptions are still piling in. How long can it be before liquidity dries up and the fund is gated, like its bigger brother the Woodford Equity Income Fund.

Tom Winnifrith Bearcast: Mind the gap near the end the hot rumour is afterwards!

Published 596 days ago

A recording glitch. The hot rumour is at 20 minutes, ignore the gap beforehand. Elsewhere, I look at Neil Woodford, Woodford Patient Capital Trust (WPCT), Eve Group (EVE), Xeros (XSG), RM2 (RM2), Hargreaves Lansdown (HL.), BlueJay (JAY), Thomas Cook (TCG) Agronomics (ANIC) and the sodomising of Mail on Sunday reader;s portfolios by prize shit Ben Harrington and at Avereso (ASO).

Time Out Group – should have listened to us again, Neil Woodford you loser & forced seller!

Published 596 days ago

A “Holding(s) in Company” announcement from Time Out Group (TMO) shows last week Woodford Investment Management reduced its holding from 16.06% to “less than 5%”. The shares then falling from just above 90p to just below, and a circa £120 million market cap…

Woodford Patient Capital Trust – the most pathetic of statements, shares slide again

Published 596 days ago

I see that the spin doctors for Woodford Patient Capital Trust (WPCT) told their poodles in the deadwood press (the FT) to run a fake news article suggesting that vultures were circling looking to bid for the company and its assets. No-one, not even the PR cocksuckers at the Financial Times, believes that for a minute and the shares have slumped again today to 59p, despite, or perhaps in part because of, the weediest of statements from WPCT.

EXPLOSIVE: Has Hargreaves Lansdown been dumping Neil Woodford's Equity Income fund whilst telling clients to buy? Part 3 – the HL Multi-Manager UK Equity fund: guilty as charged?

Published 596 days ago

In part one of this series I showed that the HL Multi-Manager Income and Growth fund had been dumping Woodford Equity Income fund since the end of January whilst HL was still recommending Woodford via its Wealth 50 list. Part two – the HL MM Equity and Bond fund was inconclusive, although I did show that its % allocation had fallen. In part three I look at the HL Multi-Manager UK Equity fund (HL MM UK Eq).

Has Hargreaves Lansdown been dumping Neil Woodford's Equity Income Fund whilst advising investors to buy? Part 2 – the Equity and Bond MM fund: jury out.

Published 596 days ago

Yesterday I showed quite clearly that the Hargreaves Lansdown (HL.) Multi-Manager Income and growth fund has been dumping Neil Woodford’s sunken flagship Equity Income Fund whilst HL retained Woodford on its Wealth 50 list of recommended funds offered to its private investors. This was in terms of cash value, in terms of the % of the HL fund and in terms of the number of units in Woodford’s fund – yet all the while the HL fund had been increasing in size. Today I move on to the HL Multi-Manager Equity and Bond fund (HL MM E&B).

The Corruption of the Deadwood Press: The Mail on Sunday, Jim Mellon and Agronomics

Published 596 days ago

Agronomics (ANIC) is an AIM listed firm which knew full well on Friday that it was set to raise £4.5 million at 5p - as against a 5.5p mid. So here is what to do. Leak the story to the fraudsters fave journalist, Ben Harrington, who will give it an utterly misleading write-up in the Mail on Sunday in return for the "scoop." MoS readers fill their boots on Monday and the shares move higher - they are now 6.5p. So Harrington and the Fail on Sunday get another "scoop", the Spiv clients of broker Peterhouse get to flip the stock and thank Peterhouse which earns 5% to pay for the coke and hookers and the company is cashed up.  The only folk who get screwed are readers of the Fail on Sunday who are buying shares on the basis of completely fake news.

I don't like Monday's RNSs...

Published 596 days ago

Obviously today's comedy regulatory news update came from Woodford Patient Capital Trust (WPCT), but I will leave others to write on that piece of PR puffery... A couple of notches down on the regulatory news angst scale was the acknowledgement by recent dog Thomas Cook (TCG) that - as per weekend press comments - it is in takeover talks (with 18% shareholder Chinese conglomerate Fosun)…

EXPLOSIVE: Has Hargreaves Lansdown been telling investors to buy Neil Woodford’s Equity Income Fund when it was selling?

Published 597 days ago

I said the debacle involving the gating of Neil Woodford’s Equity Income Fund was going to get messy and it gives me no pleasure at all to write this article because I am myself a client of Hargreaves Lansdown (HL.). But the question has to be asked: has Hargreaves been selling Woodford’s Equity Income Fund whilst at the same time advising clients to buy it.

Tom Winnifrith Bearcast; That knob Bryce Elder at the FT plus the Hargreaves Neil Woodford scandal is about to explode

Published 597 days ago

I start with Bryce Elder at the FT. What a knob. Then it is onto new explosive revelations about Hargreaves Lansdown (HL.) was  selling Woodford funds for months while urging its retail clients to buy.

Who exposed Neil Woodford - laughable fake news from the Sunday Times cocksuckers

Published 597 days ago

The first article where we warned about Neil Woodford was in 2015. By 2017 our coverage was detailed and on an industrial scale taking aparty every aspect of the Woodford empire. As Bloomberg stated yesterday, we  at ShareProphets, were first. The deadwood press, including the Sunday Times just blew the great man off. But today we learn , as you can see below, that it was a Sunday Times investigation on March 3 2019 that FIRST exposed what was going on. FAKE NEWS!!!!

Neil Woodford – what of the regulatory response?

Published 597 days ago

With Neil Woodford’s fall from grace following the gating of his equity income fund – which came as no surprise to readers of ShareProphets following our intensive coverage of the last two years. Actually, our first piece discussing Woodford’s woes was way back on 14 April 2015. Take that, the Sunday Times, which is claiming credit for bringing down Neil Woodford because of a piece in March of this year. But now, already, there are calls for changes to the regulatory environment - new rules, new hoops to jump through to prevent this happening all over again.

Woodford Income Focus – the noose is tightening: sell while you still can – and where is the FCA?

Published 597 days ago

I have warned in the strongest terms that Neil Woodford’s Income Focus fund (IFF) will be gated and repeat that warning today. Last weekend I warned that the noose was tightening over EIF (call me Mystic Meg) and today I give the same advice on IFF. In the light of the suspension of Woodford’s flagship Equity Income fund (EIF) on Monday, I warned that the rush to the exit at IFF would be extreme and this morning’s figures bear that out with bells on.

Notes from Underground - Top 20: It's Woodford all the way down

Published 597 days ago

So, did my plan to zoom this column to the Top of the Pops by putting in a pandering Bitcoin infographic work? No, it did not.

St James's Place: fees on top of fund management 'excellence' equals problems

Published 598 days ago

Back in January, I noted that 'fees do not matter so much to people when markets are pushing up double-digit per cent with apparent ease but when the music stops a bit, people start paying attention more and that is not good news for St James's Place (STJ)'.  

Tom Winnifrith Bearcast: I want to call an EGM to sack the entire board at WPCT unless they fire Neil Woodford, who will join me?

Published 598 days ago

I start this podcast with a look at some of the shite press coverage of the Woodford scandal today, notably Patrick Hosking in The Times and the Daily Mail. Then it is onto what ios the end game for Neil personally: jail? insolvency of WIM? A lifetime ban from financial services? Another OBE and more tea with his pal David Cameron? Finally I look at Woodford Patient Capital Trust (WPCT) and reach out to fellow shareholders. I wish to call an EGM to sack the board and explain why. can you help me?

Oh dear, Neil Woodford. Purplebricks – is the writing on the wall for a fundraise, as you desperately try to sell?

Published 598 days ago

AIM-listed POS Purplebricks (PURP) has just announced the appointment of Citigroup Global Markets as joint corporate broker to act alongside existing broker Peel Hunt. If that is not a sign that a fundraise is coming, I don’t know what is.

Woodford Patient Capital Trust: A Happening Accident – Sell at 63p, this could be a zero

Published 598 days ago

As usual with the Woodford fiasco, the regulators step in after the damage has been done. The FCA will be all over it now but were conspicuous by their absence while the warning signs flashed. There is at least something that it could still do to protect the private investor from further damage (I am getting tired of warning people against taking a punt on Woodford Patient Capital Trust (WPCT) to avail themselves of the juicy 30% discount to the daily published NAV)…

Tom Winnifrith Bearcast: Mark Dampier of Hargreaves trousers £5.6m days before the Woodford shite hits the fan, having been the ramper in chief

Published 599 days ago

In today's bearcast I look at the 5.6 million questions Mark Dampier has to answer in the wake of the collapse of the Neil Woodford empire. I also look at how the contagion could swamp one of Hargreaves Lansdown's (HL.) own fund of funds unit trusts and at the massive COIs at Hargreaves which the Woodfiord scandal reveals. I look at Redde (REDD), Surgical Innovations (SUN) and  give a direct answer to Roger Lawson as to why I will continue to call out the corrupt and useless deadwood press even if it means no coverage of the achievements of this website. It is called feeling comfortable with yourself, Roger, for telling it as it is. Postscript: Late tonight it has been announced that shamed Dampier is to "retire".

The Neil Woodford pain continues as NAV slips and stampede of redemptions continues at Income Focus. Tick-tock, how long to suspension o’clock?

Published 599 days ago

Yesterday I showed that redemptions at Woodford Income Focus Fund (IFF) had been 6% the previous day. This morning it is down again sharply – and so is Woodford Equity Income Fund (EIF) despite the gates being firmly shut.

Can Neil Woodford avoid being sacked again today? Er….what of WPCT?

Published 599 days ago

Sorry Neil. It was an attack of commentator’s curse so it is all my fault that you were sacked after-hours yesterday by Openwork from your job managing the Omnis fund. Obviously it was nothing to do with you. The question now is can you avoid getting the tickety-tack today. With no more external funds to be sacked from, having lost your jobs with St James’ Place and Openwork….oh, and Quilter a few weeks back, you might be feeling a little more confident on that score today.

Another after hours utter Neil Woodford SHOCKER – Worthless Proton calls him for £25m, so who will pay?

Published 600 days ago

I have flagged up repeatedly that one almighty headache for Neil Woodford is that NEX lobster pot listed joke company Proton Partners International (PPI) has a legally binding right to demand up to £70 million in equity investment from Nei Woodford’s funds. Given that its shares have traded once in the 3 and a half months since its scandalous IPO this is a real nightmare.  At 5PM today we learned Proton has called Woodford for £25 million…questions, questions…

CORRECTION: Neil Woodford – a better day today! (All things are relative, not fired by anyone till late afternoon)

Published 600 days ago

Well, the Income Focus Fund hasn’t been suspended yet and nobody’s sacked him today. Ooops TW Correction, it has just em erged that the mandate to manage the £330 million Omnis Fund has been terminated by Openwork. Woodford is utterly toxic. So, as Nigel was saying, until late this afternoon no-one had sacked Neil Woodford so that counts as a good day....

Tom Winnifrith Bearcast - Diversified Gas cannot respond - is it the best short on AIM?

Published 600 days ago

I start with a few reflections on D day from my own family history. Then I look at Neil Woodford and what needs to happen.Then at unfolding events at Diversified Gas & Oil (DGOC) which make it, arguably, the most compelling short on AIM. Do folks understand the scale of what is going on here? Then I cover Motif Bio (MTFB), Cabot Energy (CAB)  and finally Blue Jay (JAY) another truly compelling short.

Woodford Income Focus – how long until this is suspended too as the contagion spreads?

Published 600 days ago

The smaller unit trust run by Neil Woodford, the Income Focus Fund (IFF), has had a torrid time ever since it was launched and trades way below the launch price of the accumulation units. But with Neil Woodford now in the headlines for gating his flagship equity income fund and even his staunchest supporter – Hargreaves Lansdown – suggesting that investors consider their position in IFF, much as predicted on this fine website, it seems that redemptions are running at stampede levels. How long can Neil Woodford survive this before he has to gate IFF too?

How soon will Woodford Investment management go bust?

Published 600 days ago

In short it all depends on the greed of Neil Woodford himself. Let me explain.

BREAKING: Morningstar downgrades Woodford’s Suspended Flagship Equity Income Fund again, to Negative

Published 600 days ago

Can Neil Woodford’s day be worse than yesterday? Well it is only 7.30am and already Morningstar has again downgraded his Equity Income Fund to Negative – its lowest rating. With investors already lobster-potted “to protect investors in the fund” this is yet more bad news for them.

A Dog Day for Neil Woodford - how long before Woodford Investment Management is toast?

Published 601 days ago

If Monday’s events which saw Kent County Council ask for its money back, which forced the suspension of Neil Woodford’s Equity Income Fund was not bad enough, he has just learnt that St James’ Place has sacked him (oops, there goes a £3.5 billion mandate). Oh, and his best mates over at Hargreaves Lansdown have issued a statement about Woodford’s Income Focus Fund….

Tom Winnifrith Bearcast: Hey dumbfuck clients of Cenkos give me $225m and I'll offer you a 10% yield

Published 601 days ago

In today's bearcast I start with a range of matters relating to Neil Woodford including brokers lifting our research, Purplebricks (PURP), Provident Financial (PFG) and Non-Standard Finance (NSF). And I make Neil a generous offer on Proton Partners (PPI). Then I look at Diversified Gas & Oil (DGOC) and the dumb fuck clients of Cenkos (CNKS). Finally a brief look at Ironveld (IRON) and at the Bluejay (JAY) hound. Postcript: Cynical Bear points out that today's TRI shows Woody is in fact selling Purplebricks in the market as well. Timber!

An Open Letter to Susan Searle at WPCT No 2 – Neil Woodford must be fired now to save our company

Published 601 days ago

Susan Searle, the fragrant chairwoman of Woodford Patient Capital Trust (WPCT), where I am a loyal owner of 10 shares, has yet to respond to my polite letter demanding she suspend the shares, fire Neil Woodford and undertake a strategic review. But events now force me to write again in light of Woodford’s incoherent video of earlier.  That suggests WPCT now faces a full blown crisis. The letter follows:

Provident Financial – failure squared from man of the moment Neil Woodford

Published 601 days ago

A terse announcement today from Provident Financial (PFG) hides a much bigger story covering corporate failure and this website's current great focus: Mr Neil Woodford. And yes, his recent failures have led - in a roundabout way - to another failure. Failure squared!

Shocking New Neil Woodford video: stumbling, incoherent, in parts misleading

Published 601 days ago

Neil Woodford has released a short video aimed at reassuring investors in his now suspended Equity Income Fund. It will have the opposite effect. It is stumbling, incoherent, in parts misleading and frankly Neil looks like an ill man who is under mammoth stress. I can see why. 

Dear Kent County Council…….

Published 601 days ago

I read in the press that you are very disappointed that Neil Woodford didn’t give you a heads up that his flagship Equity Income Fund was so close to having to gate his find to prevent further redemptions – especially as you were a large holder. You clearly don’t understand how the system works, for taking action on inside information like that would be a criminal offence. There is a way you could have known, though.

Woodford - how the mighty have fallen: Pheonix Spree RNSs to say Neil DOES NOT hold!

Published 602 days ago

With a hat -tip to Cynical Bear who beat me to it, I had to laugh at today's RNS from Pheonix Spree Deutschland (PSDL) - a UK real estate outfit specialising in Geermany - which has just announced that following investor enquiries it wants to tell us all that it is unaware of any holding by Neil Woodford in the company. Oh how the mighty have fallen!

Tom Winnifrith Bearcast: Let us all take a minute to feel sorry for Neil Woodford...only kidding

Published 602 days ago

In today's podcast I add a bit more to the earlier coverage of Diversified Gas & Oil (DCOG) which is an outstanding short, look at Management Resource Solutions (MRS), and Gooch & Housego (GHH). Then I look at Woodford, play out some end game scenarios and look at 10 stocks which could go bust by Christmas as a result of this fiasco.

Neil Woodford – let the carnage commence: Card Factory

Published 602 days ago

Neil “I am not a forced seller” Woodford has been selling Card Factory (CARD). Why is this worthy of comment? Well just three weeks ago we published an article entitled Gambling Neil Woodford doubles down on sliding Card Factory after he doubled his stake to 10%.

Letter to WPCT Chair Susan Searle – suspend the shares, fire Neil Woodford for misleading us at AGM & strategic review asap

Published 602 days ago

As you may recall I invested £8 to become a loyal shareholder in the Woodford Patient Capital Trust (WPCT) and attended its AGM on May 16 to give Neil Woodford a right duffing up. Woodford misled that meeting and for that, as well as gross incompetence, he should be fired at once. I have written to our great leader, chair Susan Searle with calls for immediate action. The letter is below:

Who made the worst Neil Woodford call? Egg on Face Contest

Published 602 days ago

The deadwood press was fawning as a pack over Neil Woodford until relatively recently. For a long time myself and other other writers here, notably Cynical Bear and Nigel Somerville, were lone voices in the wilderness though our analysis was spot on. But in recent times Neil has lost most of his makes but some still stayed loyal.

HL bins Woodford Income Focus from Wealth 50 - suspension surely looms there too

Published 602 days ago

Hargreaves Lansdown has announced the removal of Neil Woodford's Equity Income Fund  from its Wealth 50 top picks- no suprises there: HL may have egg on its face but since the fund is no longer tradeable there was no choice. But HL has also chosen to remove Woodford Income Focus Fund as well. Given what has just happened at EIF it is now a racing cert that Income Focus will also be suspended when there is a tsunami of panicked redemptions, Woodford cannot meet, tomorrow.. If you hold some, you had better hope you can get out tomorrow.

What now as Woodford Equity Income Fund suspends trading? Shimples: carnage - China Syndrome time

Published 602 days ago

Well shock, horror, probe! As predicted on ShareProphets for months, Neil Woodford’s Equity Income Fund has had to suspend dealing in its units with immediate effect, until further notice, to allow time to reposition the element of the fund’s portfolio invested in unquoted and less liquid stocks, in to more liquid investments. You can’t say you were not warned here on ShareProphets – and whilst it may be Ouzo time here for Tom Winnifrith and me, spare a thought for Cynical Bear who unpicked so much (and now has to get his dancing shoes out!) So what now?

Video: Tom Winnifrith exposes Neil Woodford back in April 2018 - so far ahead of any other journalist

Published 603 days ago

Neil Woodford, Britain's best known fund manager has seen his empire start to crash and crumble today with a suspension of dealings in his flagship fund. Some in the corrupt deadwood press, like the Mail on Sunday, were still praising Woodford yesterday. Others have turned bearish over the past few months having previoously drunk the cool aid. But for almost two years we have been calling this out as a debacle waiting to happen, you can see our full, and incredibly detailed, coverage HERE. Site Editor Tom Winnifrith gave a keynote address at UK Investor 2018 predicting exactly what would happen and highlighting numerous red flags. You can see that video, now shown to be UK Investor at its finest, below

Breaking News: Dealing in units in Neil Woodford's flagship fund suspended until further notice

Published 603 days ago

You cannot say that this website did not warn you so many times. Our coverage of Neil Woodford over the past two years has been streets ahead of the game - as you can see HERE - and now the drama has become a crisis. Dealing in units in Neil Woodford's flagship Equity Income has been suspended 'with immediate effect and until further notice' after a spike in redemptions. We told you there was a liquidity crisis. We told you the FCA was on the case. As I called him out at his AGM, Neil Woodford accused me - by name - of publishing fake news. Sir, I am owed an apology.. So are your poor investors.

Tom Winnifrith Bearcast: helping the FCA with its enquiries

Published 603 days ago

I am always happy to assist my good friends round at the FCA and start with this and Julie "Lingerie on Expenses" Meyer. I move on to Neil Woodford and Kier (KIE), then Yourgene (YGEN) and a long chat with Adam Reynolds, Bluejay Mining (JAY), Argo Blockchain (ARB) and Eqtec (EQT).

Purplebricks: Dumb Hun-ny – "resigned" founder Bruce sells all his shares to Axel Springer

Published 603 days ago

Michael Bruce founded Purplebricks (PURP) and was its boss until he “was resigned” after the most recent lack of profits warning.  Having sold £25 million worth of shares at 360p to Germany’s Axel Springer last March (when the Krauts also spunked £100 million on new shares at the same price), he is not short of a bob or two but today he dumped his remaining 46 million shares on Springer at £1 a pop.

Should savers keep faith with Neil Woodford, asks his ardent fan Ruth Sunderland of the piss poor Daily Mail

Published 603 days ago

Oh the pain and suffering I have to endure for you, dear reader! I have just read Ruth Sunderland's article in the Daily Mail asking whether we should keep faith with Neil Woodford so you don't have to. Of course, there is nothing new to ShareProphets readers - you heard it all before, months ago. The answer, obviously, is no. But there is more to it than that.

Monday Caption Contest: Neil Woodford spunks £50m of other folks cash in a day thanks to Kier disaster edition

Published 603 days ago

Today's monumental disaster for embattled fund manager Neil Woodford is Kier (KIE) as Nigel Somerville outlines HERE. But how did Nomates react when he heard the news? We have a photo below and your mission, to win a signed photo of Julie "Lingerie on Expenses" filling out her tax return, is to supply a suitable caption in the comments section below. The deadline is midnight tonight, do your worst.

Neil Woodford blows another £50 million of other people’s money as profit warning from falling knife Kier triggers 40% collapse

Published 603 days ago

Oh dear, oh dear, oh dear. I can’t help it: I told you so. Shares in fully-listed Kier Group (KIE) have dropped by 40% (last seen) this morning, after a big profit warning, to just 165p. Neil Woodford – who knows best – had been hoovering up stock all the way down since the calamitous rights issue last December at 409p – itself a huge discount to the price Woodford was paying when he first bought in. It is yet another in a long stream of terrible calls by the great man, but I wonder if it will prove to be the last. But heck, the £50 million up in smoke on this call alone today is only other people's money.

Neil Woodford’s flagship Equity Income Fund – May scores-on-the-doors as the losses and redemptions pile up and the noose tightens

Published 604 days ago

Neil Woodford has had a rotten month of May. His pride and joy Equity Income Fund started the month at £4.33 billion but finished at £3.71 billion – a shocking drop of 14.3% in one calendar month and two of the four accumulation units closed below the launch price of 100p almost five years ago. But how much of that was due to poor stockpicking and how much was the flood of his investors heading for the exit?

Notes from Underground - Bitcoin on a bull run?

Published 604 days ago

This column exists to highlight the most popular articles and Bearcasts from the past week, the introductory paragraphs are merely what's on my mind on a Sunday morning. But this column has dropped in popularity to the #40s, so I will have to pull out the big gun: Bitcoin. 

Tom Winnifrith Bearcast - 3 attempts to shut this site down in 10 days & the canard at the heart of the Neil Woodford defence

Published 605 days ago

We must be doing something right. We are! We are exposing wrongdoing in financial services and thus I detail the three attempts to shut this site down of late. We will fight on and thank you for your support. If you value what we do please get others to subscribe HERE. I also look at the canard at the heart of the defence for Neil Woodford, a line spun to the Times today.

More bad news for Neil Woodford as Proton Partners offers up FY19 accounts in a sea of Red Flags

Published 605 days ago

I noted yesterday that Neil Woodford was suffering a Bad News Day. Steve Moore covered his investee Time Out Group HERE, the latest disaster (or, rather, lack of good news) from Thin Film, of Woodford’s Norwegian kennel  is HERE (and the shares are down heavily since the article appeared) and his latest bad news from WPCT is covered HERE. And of course there is another slew of unhappy coverage from the deadwood press. Next up is the joke NEX-listed Proton Partners (PPI), which released its FY numbers to February.

Tom Winnifrith Bearcast: who has been daft enough to send me a fascist lawyers letter

Published 606 days ago

Someone wants to gag the free press and has sent me a fascist and ludicrous lawyers letter. But who wants to suffer the curse of the Sheriff? make your guesses in the comments section below. It is not Neil Woodford but I discuss his woes, I look at Karelian Diamonds (KDR) and offer to back those wanting to sack the board, comment again on BlueJay (JAY) and its porky pie and look at results from Audioboom (BOOM). Finally, my cats are now showing their teeth as trained vermin killers.

It really is Bad News Day for Neil Woodford, as WPCT NAV crosses a line

Published 606 days ago

It never rains when it pours, so the saying goes, and for Neil Woodford it must feel like an extended monsoon period at the moment. With his flagship equity income fund struggling against redemptions and poor stock-picks to leave it with two classes of accumulation unit now below the issue price (of five years ago, when everything else has gone up) now it is the turn of Woodford Patient Capital Trust (WPCT) to take a bow.

Is there more bad news coming for Neil Woodfjord (Geddit)?

Published 606 days ago

I commented a little over three weeks ago, after Woodford Norwegian Dog Thin Film (THIN) had released its FY18 results at eleven minutes past one in the morning (truly no-one-is-watching o’clock!), that the company had announced plans to raise funds by the end of May as it did not have sufficient funds for operations throughout the financial year 2019. In fact we knew a funding round was on the way since the end of February and here we are on the last day of May…….and no funding round yet.

Time Out Group - Neil Woodford dog argues “rolling out this successful format”. Really?

Published 606 days ago

Time Out Group (TMO) “is pleased to announce that Time Out Market New York opens to the public today, bringing the best of the city under one roof, based on the editorial curation Time Out has always been known for”. The shares though are still sub 95p – comparing to a 150p June 2016 IPO…

Neil Woodford – desperate times call for desperate measures

Published 606 days ago

Another day, another round of redemptions. This morning we learn that Neil Woodford’s flagship Equity Income fund has now dropped to £3.75 billion and two of the four accumulation units are now below the £1 issue price of five years ago. Meanwhile shares in Woodford Patient Capital (WPCT) closed yesterday at 77.8p, as against the launch price of 100p about four years ago and last seen are down again this morning to 75.6p, and the newest arrival, the Income Focus fund has seen its accumulation shares drop by around 17% since launch. Desperate times, but fear not: according to this morning’s Daily Telegraph, Neil has a plan.

Tom Winnifrith Bearcast: Disgraceful - after years of loyal shameless ramping John Meyer stabbed in the back by BlueJay

Published 607 days ago

In today's bearcast I look at the growing woes of Neil Woodford, Blue Jay Mining (JAY), Plutus Powergen (PPG), Mila (MILA), Big Dish (DISH), Condor Gold (CNR) and Thomas Cook (TCG)

Neil Woodford – GOTCHA!! The Financial Conduct Authority IS watching you – confirmed by Investment Week, Tom Winnifrith totally vindicated

Published 607 days ago

Further to Tom Winnifrith’s piece earlier today in the light of an article in the FT which claimed that the FCA was examining the accelerating decline of Neil Woodford’s flagship Equity Income Fund, Tom asked whether Neil Woodford still insists that his identical claim was fake news. Well, now  Investment Week has also written on the subject. But whilst the FT makes the claim, Investment Week goes further:

Neil Woodford – do you still insist that my claim that the FCA is monitoring your crumbling empire is fake news?

Published 607 days ago

At the AGM of the Woodford Patient Capital Trust (WPCT) which I attended, Neil Woodford insisted that his teetering fund management empire was suffering because of inaccurate media reporting and he singled out one journalist, my good self, in this respect. One of the things Neil reckons I have made up is that the FCA is monitoring his very serious liquidity crisis.

St James House – trading update as Razzall tries to dazzall (but fails)

Published 607 days ago

AIM-listed St James House (SJH) is not the investment house which gave Neil Woodford the dreaded vote of confidence – this is the old Boxhill run by Lord Razzall. It may have a swanky upmarket new name but it still looks like the disaster of old...

Bank Holiday Special: Tom's' 24 most-listened-to Bearcasts so far this year

Published 610 days ago

These are the 24 most-listened-to Bearcasts by Tom so far this year. By my reckoning, if you queue them all up, you'll have eight hours of Tom's dulcet tones to play for the family. 

Bank Holiday Special: ShareProphets' 20 most-read articles so far this year

Published 610 days ago

It's the second bank holiday this month, and that gives us a little time to reflect back on the most-read stories of this past year. Who would have guessed THIS would be #1?

Tom Winnifrith Bearcast: The placed Neil Woodford "scoop" in the Sunday Times - read through the spin, it could be endgame by July 1

Published 611 days ago

Firstly a few words on Woodlarks. Your generosity has secured its funding for another year. So thanks to all who supported the rogue bloggers. Photos of myself and other old codgers crossing the line are HERE. If you have yet to donate we need just £690 more to hit £50,000 so please donate HERE. Then it is onto Woodford and taking out the spin of the stories in today's Sunday Times it looks really grim and I explain why it could be end game by early July and also why I think we loyal Woodford Patient Capital Trust (WPCT) shareholders were misled at the recent AGM.

Notes from Underground - Totally worth it, please put me out of my misery

Published 611 days ago

I only did the final third of yesterday's Rogue Bloggers for Woodlarks but, man, what a trek. Lucien Miers plotted the course and it took us through rolling fields, crumbling estates, over bubbling rivers, and deep (for England, anyway) forests. 

Crisis for Neil Woodford continues as Equity Income Fund drops another billion since March

Published 612 days ago

There are a few headlines around showing that Neil Woodford’s Equity Income Fund has once again been suffering redemptions. Figures of £450 million are quoted, but the scale of Woodford’s ongoing disaster is far worse: since 1^st March EIF has dropped about £1 billion.

As the five year launch anniversary approaches for Woodford Equity Income Fund, another line in the sand approaches as the race to the bottom accelerates

Published 614 days ago

The horrific performance of Neil Woodford’s Equity Income Fund (EIF) looks set to cross another terrible mark as its fifth birthday approaches on June 19th – less than a month away. We know that EIF has been rooted to the bottom of the unit trust performance league for some time, but most folks would accept that you need to give a unit trust a decent run to see how things work out. Five years certainly looks like enough time for that!

This week’s big disaster for Neil Woodford: MorningStar puts the boot in to EIF

Published 618 days ago

So much for Woodford’s problems being the nasty press! Only this week, Neil Woodford was complaining bitterly about all these nasty hacks out to destroy his reputation at the Woodford Patient Capital Trust (WPCT) AGM which our very own Tom Winnifrith attended. But MorningStar is a different kettle of fish and its analyst has put up a new report on Woodford’s Equity Income Fund (EIF) which is, quite simply, devastating. In the light of the new report, I would suggest that even the most sycophantic IFA cannot recommend to its clients that they leave cash in this fund. Prepare for an even greater tsunami of redemptions.

Woodford Equity Income Fund – Red Flags in the end-April numbers

Published 618 days ago

This week saw a bit of a landmark as Neil Woodford’s Equity Income Fund (EIF) crashed below £4 billion in value. It was £4.7 billion at the of February, and £4.4 billion at the end of March – but it peaked at over £10 billion. It is an astonishing collapse of confidence in Woodford. But the end-April numbers revealed a few surprises.

Massive anonymous Rogue Bloggers for Woodlarks Donation received - we up target to £50,000

Published 618 days ago

I am speechless. Someone has anonymously donated £11,361.24 to the Rogue Bloggers for Woodlarks appeal. And I don't think it is Neil Woodford so there will surely be more to come. Maybe it was Neil (TW Note: I know who it was but am sworn to protect their identity, which is all the more credit to them. It was not Woodford). The anonymous benefactor left a clue so can you guess who it was HERE.

Notes from Underground: How billionaires prepare for bear markets

Published 618 days ago

I was going to give the Visual Capitalist charts a rest for a few weeks, even though they are popular, because we don't make them ourselves. But I noticed this morning that they are produced in my hometown of Vancouver. So I looked at their site to see if I knew any one who worked there. I don't - but I saw that they literally occupy the old office space of my last business there. If that's not a reason to run another one, I don't know what is.

Tom Winnifrith Bearcast: Woodford and another £10m down the Proton Partners pan - a new valuation scandal

Published 618 days ago

Today's Bearcast is late and I did no training walk as I feel a touch under the weather. On Thursday I quizzed Neil Woodford about Proton Partners International (PPI) and he bull-shitted for England. On Friday he chucked another £10 million of other folks cash down the Proton pan which opens up a whole new can of worms in terms of valuations which I discuss in detail. Neil has yet to donate for Rogue Bloggers for Woodlarks despite my polite AGM request and 70% of bearcast listeners have not chipped in either. Please rectify that HERE

Tom Winnifrith Bearcast: Advice for Andrew Monk on how to be a spiv

Published 620 days ago

I start with a comment on the amazing generosity of one person donating more than £11,000 to Rogue Bloggers for Woodlarks yesterday. It was not Neil Woodford though I did ask. Anyhow: to the 75% of you yet to donate think of me this weekend on a) my last training walk ahead of 33 miles next weekend and b) entertaining a visiting mother in law. As you think of my weekend, please donate HERE. In the podcast I discuss Woodford's latest bad news, Maistro (MAIS), Blur as was, UK Oil & Gas (UKOG) and Staffline (STAF). I also offer advice to Andrew Monk on which 1 AIM stock he should buy today for his mother's IHT Portfolio.

Woodford – buys 2 more falling knives (AGAIN) as EIF crashes through £4 billion. Good job he’s not a forced seller!

Published 620 days ago

Let it never be said that Neil Woodford is a forced seller of anything, for yesterday we learnt that once again he has topped up with yet more shares in Kier Group (KIE) and a few more Redde (REDD). Except that as at yesterday’s close, his Equity Income Fund had dropped through the £4 billion mark, according to Morning Star. Only at the end of March the fund was worth £4.4 billion. I wonder what he has been selling…..completely voluntarily, natch.

Tom Winnifrith Bearcast: the Sheriff battles Neil Woodford at WPCT AGM

Published 621 days ago

Today's bearcast is a full report on the AGM of Neil Woodford's Woodford Patient Capital Trust (WPCT) which I'd score as a win for me against the great fund manager and his chairman Susan Searle. I did manage to get Cheryl Cole into the debate and I did ask Neil woodford to donate to rogue bloggers for Woodlarks, as you can do here,, but I also took the board to task on a number of other matters and managed to get Neil pretty riled. Happy days.

FT kept out of Woodford Patient Capital Trust AGM, Winnifrith glides right in UPDATE 2x

Published 621 days ago

The Woodford Patient Capital Trust AGM has opened by denying entrance to the press. Peter Smith, the venerable asset manager editor of the Financial Times has been sent off on his bicycle. The company has decreed that only registered shareholders may enter. Of course, Tom Winnifrith is a registered shareholder.

Benevolent AI - the ticking timebomb for Neil Woodford - the Scientific view of this joke

Published 621 days ago

The £2 billion valuation of Benevolent AI flatters the NAV of Woodford Patient Capital Trust (WPCT), whose AGM I shall be attending this morning,  and has - on its own - earned Neil Woodford c£2 million pa in management fees as a result of the EIF Holding. We have covered this Theranos in waiting many times HERE. But what is the scientific view?

Tom Winnifrith Bearcast - Defrauded of £36 by Rentalcar/Europcar and fecking livid

Published 622 days ago

I explain the nature of the fraud and why I am so livid. My anger is compounded by Wrexham Council and its inability to sign roadworks which wasted half an hour of my life. Then I find I agree with David Lenigas on something: can life get any worse? I discuss Argo BlockChain (ARB), PureCircle (PURE), Cabot Energy (VAB), Watchstone (WTG) and Toople (TOOP). Maybe I have a second question for Neil Woodford, will anyone pay £250 for me to ask it? If you are yet to donate to Rogue Bloggers for Woodlarks we are now at £27,000 raised so please chip in HERE.

A question I shall put, in person, tomorrow: Dear Mr Woodford – how about you give a bit of the £37m to Rogue Bloggers for Woodlarks

Published 622 days ago

At 10.30 AM tomorrow I shall be in the City of Lost Causes for the AGM of Neil Woodford’s investment trust dog Woodford Patient Capital Trust (WPCT) where, as the loyal owner of 10 shares, I have a few questions for Britain’s most conceited fund manager.

Gambling Neil Woodford doubles down on sliding Card Factory

Published 623 days ago

Last time Neil Woodford piled in for shares in Card Factory (CARD), back in October 2017 at c. 315p, the shares were hit by a profit warning and slid to 232p in January 2018. With 5.02% of the company, Neil Woodford was sitting on a loss (of other people’s money) of some £54 million and Tom Winnifrith was scathing. Well, the shares are now around 186.5p and the market (including Tom Winnifrith) is wrong, natch. We know this because Neil has been buying again, taking his holding to 10.06% last Friday. Heck: only 40% down – this is a winner, let’s buy some more!

Tom Winnifrith Bearcast: Oi Peterhouse you Vermin - acting for a man who jokes about my mother's suicide

Published 624 days ago

In today's bearcast I look at Neil Woodford's latest woes, Afriag (AFRI) and the vermin like behaviour of its morally bankrupt advisor Peterhouse, Sabien (SNT), Argo Blockchain (ARB) - whose directors are also the sort of filth you scrape off your shoes  and 8 Peaks Group (8PG) (ditto).  After all of that I ask you to cosnider my weekend training walk HERE and in light of my entirely self inflicted suffering back the Rogue Bloggers for Woodlarks HERE

Could Kent County Council sink Neil Woodford within weeks?

Published 624 days ago

Naturally, as a keen supporter of the poor, underpaid, over-worked, over-stressed public sector workers, I am distraught to see that Kent County Council has invested more than £300 million of its staff pension scheme with Neil Woodford. So far Woodford has, while earning a huge  and obscene salary himself, spunked £60 million of KCCs cash. But there is still £255 million left and the folks at KCC are “frit”

Atom Bank gives Neil Woodford another headache

Published 625 days ago

Disruptive tech banking play Atom Bank has dealt Neil Woodford another headache to add to his migraine-inducing in-tray. ShareProphets reported HERE that major Spanish investor BBVA, which had taken a large stake in Atom Bank, had missed the deadline to take up its option to buy the bank out and now, according to Sky News, Atom plans to raise more cash – cash Neil Woodford hasn’t got.

Reader poll result and this week’s big disaster for Neil Woodford is…..

Published 625 days ago

Well it could have been AIM-listed Purplebricks (PURP) which announced an awful trading update this week and whose shares collapsed (again) to a new low point of 108p. After all, Neil Woodford has been buying the stock all the way down from £5! Or it could be Atom Bank which, having seen BBVA walk from its option to buy the company outright, is now trying to raise £50 million (more on that to follow). But no: the headline for me is that Woodford’s Equity Income Fund has shrunk again, now to a fraction above £4 billion.

Notes from Underground: You oughta be in pictures

Published 625 days ago

I had a good response for reprinting a chart from Visual Capitalist a few weeks ago, so I'll do it again. Today is Movie Franchise Earnings Over the Last 20 Years.

Tom Winnifrith Bearcast: 2 schoolboy errors of a desperate man, Mr Neil Woodford

Published 626 days ago

In two weeks time I shall be at, or around the 18 mile lunch break point in the 33 Rogue Bloggers for Woodlarks walk with 11 others. As soon as today's podcast is loaded I am off on a training walk from the Welsh Hovel along the River Dee, switching after three quarters of a mile to the English side. There will be photos later. As you consicder that PLEASE DONATE TO ROGUE BLOGGERS FOR WOODLARKS TODAY HERE. In the podcast I discuss the desparation of Neil Woodford and the bad choices he is being forced to make as a result. 

Purplebricks Headed for 50p

Published 626 days ago

That Purplebricks (PURP) remains above 100p after Tuesday’s announcement is surprising. With the closure of its Australian division and retrenchment in the US, the global growth story is dead, leaving the UK market as its primary focus where the going, by the company’s own admission, is tough.

Reckless Neil Woodford gambles with other people’s money on Induction Healthcare IPO

Published 626 days ago

Induction Healthcare is coming to the AIM market in only the third IPO of the year on AIM. That kind of tells you now ain’t a great time, but leaving that aside, Neil Woodford has signed up for IPO shares (with no previous investment) in a company which seems to be a very long way from profitability. So is it his Equity Income Fund buying a company with no income? Maybe it is his Income Focus fund – although no matter how hard I focus, I still can’t see any dividends. Or perhaps it is Woodford Patient Capital (which has no cash)? I’ve no idea.

Tom Winnifrith Bearcast: As Neill Rickets steals Adam Reynolds' keyboard I agree with Neil Woodford

Published 627 days ago

In today's bearcast I cover Diageo (DGE), Versarien (VRS), Mayan (MYN), Vela (VELA), Dev Clever (DEV) and i3 Energy (i3E). No doubt Mr Ricketts wants to be a hero and ahead of my next training walk tomorrow I beg you to be one too and get us past £20,000 raised by donating HERE

Hapless Neil Woodford – in for a penny…..in for another £7m! (of other folks cash)

Published 628 days ago

It emerged last night that Neil Woodford is still buying shares in Kier Group (KIE) like they are going out of fashion. Mind you, with the stock again plumbing the depths, I guess they are – and Neil Woodford appears to be the only buyer in town

Imperial Brands – what will make the shares go up?

Published 629 days ago

I have been a supporter of the shares of Imperial Brands (IMB) for a while now, including noting back in September last year that 'the shares should be in the £30s at the very least. I remain a non-user of their products...but a buyer of their shares'. Well that might be my aspiration...but reality has been somewhat shabby with the shares currently revisiting the sub 23 quid level for the second time in six months. So what is going on?

More bad news for Neil Woodfjord (Geddit?) as Thin Film reports in the middle of the night

Published 630 days ago

Oh dear, oh dearie me. Woodford dog Thin Film of the Oslo Bors province (THIN) has reported its full year numbers to December 2018. We knew they would be bad – there was a strategic review post-period – but it looks as though a trip to the corporate undertakers could be on the cards unless the company can get a fundraising away, and with Neil Woodford out of cash that’s going to be a big ask. Even if it does, unless Woodford stands his corner he could be diluted away into oblivion.

Purplebricks: lack of profits warning, founder “is resigned”, Oz to be shut, US in a mess

Published 630 days ago

Well what’s not to like about the latest pot-pouri of bad news from Purplebricks (PURP)? I start with the basic premis that a company that screws both staff and customers will, in the end, come a cropper and – Purplebricks is such a company.  Only an arrogant buffoon such as Neil Woodford could fail to recognise that. So let’s start with the management change.

Purplebrickssucks.com - a website dedicated to how a company screws its employees and customers

Published 630 days ago

Purplebricks (PURP) is notorious for sending fascist lawyers letters to folks who criticise it. But in the US libel laws favour free speech not heavy handed corporates keen to gag whsitleblowers.  Ultimately a business model that is predicated on screwing both staff and customers is doomed to fail and I shall turn to the latest lack of profits warning from Purplebricks later today. However, for now, I inveite you do enjoy the world of Purplebrickssucks.com  - read at your leisure and having done so I am sure you'd agree that only a true moron or Neil Woodford, would want to own shares in this company.

Neil Woodford Year end or End game reader poll

Published 631 days ago

According to Citywire, poor old Neil Woodford suffered another £125 million of redemptions in April on his flagship Equity Income Fund taking it down to just £4.25 billion. To do so badly in ISA month is truly dreadful and that suggests that in “sell in May and go away” month things might be even worse. In that vein we have a reader poll with a deadline of entry of midnight tonight.

Neil Woodford Dog Mereo collapses further and spoofs the market (at least, I hope it was a spoof)

Published 631 days ago

Woodford dog Mereo Biopharma, with its “value-enhancing” (according to 31% holder Neil Woodford) merger with Nasdaq’s Oncomed all delivered, has continued to slide: the shares, having been 325p at IPO on AIM in 2016 and having been over 160p up until completion of the merger have now collapsed to just 81p.

Tom Winnifrith Bearcast: If you back fraud & evil DO NOT donate to Rogue Bloggers for Woodlarks & Woodford talks Brexit cock

Published 632 days ago

I start with Neil Woodford, via the lackies like Jeff Prestridge at the Mail on Sunday talking bollocks on Brexit, the markets and his doomed funds. Then it is onto someone who has given £50 to Rogue Bloggers for Woodlarks. Get in touch you POS and I shall refund you personally as you lie in bed with fraudsters and other scum. If you are not on the side of financial gangsters and wan t to back a good cause please do so HERE

ShareProphets readers tips for 2019 competition – Early May bank holiday update

Published 632 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is an Early May bank holiday update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

ShareProphets Translation Service: Hargreaves Lansdown – still backing Neil Woodford

Published 632 days ago

As discussed by Citywire, Hargreaves Lansdown’s clients have been voting with their feet on Neil Woodford, despite HL maintaining Woodford’s favoured status as part of its Wealth 50 and buying more for its own house funds. In fact, Citywire goes on to report that HL now holds so much Woodford Equity Income between its house funds and client accounts it is classed as a related party. On Thursday HL produced another Woodford-supportive note and the ShareProphets Translation Service gives its view (original in bold).

Burford Capital – a screaming short?

Published 635 days ago

I have been receiving a few comments and concerns from a number of sources regarding AIM-listed Burford Capital (BUR) – a player in the highly lucrative litigation funding space, and a major part of Neil Woodford’s investment empire. If those concerns prove to be correct then Burford Capital is massively overvalued, based on hocus-pocus accounting and is an accident waiting to happen...

Tom Winnifrith Bearcast - explaining gross margins at Optibiotix

Published 635 days ago

I start with missing cat news - it is mixed. Then I look at Optibiotix (OPTI) answering reader questions on gross margins, Management Resource Solutions (MRS), Bidstack (BIDS) Metro Bank (MTRO), BCA Marketplace (BCA), Alien Metals (UFO), Bould Opportunities (BOU), and an apology on Woodford Patient Capital Trust (WPCT). Now, to the 80% of Bearcast listeners yet to do the decent thing, please donate HERE. We are now at 38% of our target so all donations welcome as young Steve Moore says he may join the rogue bloggers.

Woodford – the clear-out continues as he dumps VPC on an 11.2% yield

Published 636 days ago

Earlier this week it was announced that Neil Woodford had dumped his entire holding in peer-to-peer lender P2P Global (P2P), worth around £88 million – the stake being bought by Quilter. Yesterday it was announced that he has sold his entire holding in another player in the speciality lending game, VPC Speciality Lending Investments (VSL). How are those redemptions going, Neil?...

More bad news for Neil Woodford as BBVA misses deadline to exercise Atom Bank takeover option

Published 636 days ago

For all the positive vibes surrounding Spain’s second largest lender, BBVA, perhaps landing a bid for Woodford unlisted banking startup dog Atom Bank, it seems that at least for now the deal is off the table: BBVA has missed the deadline to exercise its option. So no big payday for Neil Woodford’s beleaguered investors, then...

Tom Winnifrith Bearcast: a Missing cat and an attempt to shut down this website

Published 637 days ago

It has not been a good day. Firstly the Mrs left a door not fully closed and two cats have become one, Quincey has gone AWOL. Then I had to watch a crazy cat woman Carole Cadwalladr video for the sake of Woodlarks. Finally we have suffered a DOS attack. Someone does not like our exposes of fraud and malpractice. We will not be silenced. As you consider my Cadwalladr suffering please donate to Rogue Bloggers for Woodlarks HERE. In the podcast I cover Neil Woodford, Xeros (XSG), Eight Peaks (8PG), Alien Metals (UFO), African Battery Metals (ABM), Countrywide (CWD), Purplebricks (PURP) and the quoted housebuilders.

Neil Woodford Dog Mereo – FY18 results…..oh dear

Published 637 days ago

Oh dear oh dear oh dear. I commented at the weekend HERE that AIM- and now Nasdaq-listed Mereo Biopharma (AIM: MPH, Nasdaq: MREO) has FY18 results due this Monday, following Mereo’s merger with Oncomed on Nasdaq. Duly reported, how’s that extended cash runway doing?

Xeros Technology – 2018 results… to be calling Neil Woodford with a ‘bring the cheque book’ AGAIN!

Published 637 days ago

Self-styled developer of “disruptive water saving technologies”, Xeros (XSG) has announced 2018 results headlined “good progress towards licensing model”. Natch, with “disruptive” being bandied about here, Woodford’s also about (39.71% shareholding). “Good progress” then?...

Neil Woodford dog Mereo Biopharma completes “value-enhancing” merger...er....

Published 640 days ago

Mereo Biopharma (MPH) is a typical Woodford dog: until a few days ago Neil had just shy of 42% of the equity in this cash-guzzling enterprise, which joined the AIM Casino back in June 2016 with a valuation of £142 million and a lofty share price of 325p, having raised £14.8 million, plus a convertible loan note worth another three million.

Neil Woodford: “the best time to buy UK shares in three decades”, says the man needing to sell a ton of stocks to stay alive!

Published 641 days ago

Neil Woodford is in the press again, this time thanks to Money Observer which quotes from his recent missive to investors where we are told that this is the best time to buy UK shares in three decades. This, from the man who needs to sell a boat-load of shares to keep going!

Neil Woodford Dog NetScientific – CEO walks “to assist….in reducing central costs”

Published 642 days ago

AIM-listed Woodford dog Netscientific (NSCI) has announced the departure of its CEO, Francois Martelet as from 30 April 2019 – just a few day’s time – in order to assist the Company in reducing its central costs and pursue other career opportunities. Well I daresay not having to pay his salary, bonuses and medical insurance will help a little with the company’s forthcoming cashflow difficulties, but if he is departing to help the company why is this all in accordance with the terms of his service agreement?

Tom Winnifrith Bearcast: Psst - does anyone want to buy a bucket shop?

Published 643 days ago

In today's bearcast I cover Optibiotix (OPTI), Vela (VELA), Woodford Patient Capital trust (WPCT), Ascent Resources (AST), Mosman Oil & Gas (MSMN), Management Resource Solutions (MRS), Bidstack (BIDS) and Optiva/Novum and a hot City rumour. Also I have a message for 90% of listeners - please be a hero today, my 21 mile training walk for this weekend has been planned so donate to Rogue Bloggers for Woodlarks HERE

Purplebricks Remains a Sell

Published 643 days ago

The investment case for Purplebricks (PURP) is looking increasingly ragged. Even the analysts, not noted for being quick off the mark, seem to be losing faith – JP Morgan slashing its price target from 400p to 188p, and Berenberg really coming to its senses by replacing its 460p target with an 80p target. The disruptive growth story is now in shreds after February’s profit warning...

PDS Biotechnology - bad news for Netscientific, and in turn Neil Woodford

Published 645 days ago

PDS Biotechnology (PDSB) joined Nasdaq just over a month ago following the merger of AIM-listed Netscientific (NSCI) investee PDS and previously Nasdaq-listed Edge Therapeutics. Netscientific – itself an investee of Neil Woodford - proudly told the market the listing was at $10 per share, but by the time the RNS came the following morning, the shares had already collapsed to $8.51.

The 20 most-listened-to Bearcasts so far this year

Published 645 days ago

From kidnapping the neighbours cat to locating Woodford's buried bodies, Tom's Bearcasts are easily the most popular items on the ShareProphets site. Here are the 20 the ShareProphets readers listened-and-relistened to.

The most read stories on ShareProphets for 2019 - so far

Published 645 days ago

Neil Woodford, Julie Meyer, and, wouldn't you know it, Chris Oil are all subjects of the 20 most read ShareProphets stories of 2019. Read these crackers for an indication on how the rest of the year will go.

ShareProphets readers tips for 2019 competition – Easter update

Published 646 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is an Easter update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

Dividend Munchers – Easter 2019 update (and still beating Neil Woodford)

Published 646 days ago

I have been remiss in not updating on my little portfolio of FTSE-100 dividend munchers for a while: it is time to make amends. This was a small portfolio put together in the hope of beating bank interest, but from a point of view of being bearish on the market. It has been a bumpy ride, but at least I am still ahead of Neil Woodford!

Notes from Underground: By the sea, by the sea, by the beautiful sea

Published 646 days ago

Do we have any readers in Margate? My wife and I spent yesterday in your fair town for the first time and enjoyed it immensely. However, to get there from London, we needed to use the SouthEastern Trains service and that is a train operating company that should be fired into the sun.

Neil Woodford – Bank Holiday reading in the press this weekend

Published 648 days ago

As investors settle down for the Good Friday and Easter bank holiday weekend, Neil Woodford has had a fair degree of coverage to assimilate. Articles in The Times and the FT point to Woodford’s sale of £42 million worth of NewRiver REIT (NRR) to his former junior at Invesco – something which ShareProphets readers have been aware of ten days now (it is good to see the dead wood press keeping up!) Meanwhile Citywire reports that the suspensions of Woodford’s stocks in Guernsey may be resolved this coming week although we are not told which way. And Hargreaves Lansdown appears to be standing by its man, still, as it covers the recent results from WPCT – something covered here some two weeks ago.

Tom Winnifrith Bearcast: Mr Angry on the Yourgene front

Published 649 days ago

In today's podcast I look in detail at Managenent Resource Solutions (MRS), Yourgene (YGEN), First Derivatives (FDP) and hapless Neil Woodford and the crashing yield on his Equity Income Fund. How soon will that force Hargeaves Lansdown (HL.) to drop him? And I discuss my plans for weekend training walks as I urge you to become a hero as we surge through 25% of our Rogue Bloggers for Woodlarks target HERE

Neil Woodford EIF – new figures show redemptions still a monster headache as the dividend crashes

Published 649 days ago

Neil Woodford’s funds have just released their latest numbers to the end of March – somewhat earlier than in recent months. The Equity Income Fund continues its path to becoming Patient Capital, is still overdrawn, has been selling more of its income stocks to meet redemptions and the dividend has been chopped. What’s not to like?!

Neil Woodford favourite Circassia – IP Group is selling

Published 652 days ago

Oh dear! It appears from a TR-1 released by Circassia Pharmaceuticals (CIR) today as though IP Group (IPO) - a Woodford investee - has been selling shares in Circassia, a favourite of Neil Woodford...

Lessons from Plus500 & Time to sell more Purplebricks

Published 652 days ago

The shocker from Plus500 (PLUS) provides useful lessons for bulls and bears. Little more than a year ago I suggested selling the shares at £11...

Kier – in comes new CEO Andrew Davies who calls a strategic review. Will Woodford be vindicated?

Published 652 days ago

Andrew Davies narrowly missed out on what surely would have been the corporate hospital pass of the decade – last year he was announced as the new CEO of Carillion, but it went bust before he got his feet under the desk. Now he comes in as the new CEO of Kier (KIE) and despite the rights offer of last December, his first move is a strategic review.

Tom Winnifrith Bearcast: I'm not insensitive to lesbians but, listeners: should I grab Mrs Chav's pussy?

Published 653 days ago

As the day of the great move to the Grim North beckons I wrestle with the moral dilemna: should I grab Mrs Chav's pussy before we go? I then explain why I was NOT insensitive to lesbians in yesterday's bearcast. Finally I look at how to commit securities fraud on AIM in a way that is almost certain to escape detection or conviction. I do not advocate you do what I say but i suspect some already are. Now about about you help us to get over 20% of our Rogue Bloggers for Woodlarks target tonight? I need donations of just £70 HERE

IP Group – is there a read-across to Neil Woodford?

Published 653 days ago

Fully-listed IP Group (IPO) is an investment company which throws money at early-stage companies. At the last count (28 Feb 2019) Woodford’s Equity Income Fund (EIF) was 3% invested. The remit sounds fairly close to that of WPCT – and many companies are indeed the same, as pointed out in previous ShareProphets articles.

Notes from Underground: Roll 'em if you got 'em

Published 653 days ago

The story that I think truly shows the value of ShareProphets this week is: SHOCKING: ADVFN promotes an insolvent mini bond ponzi - welcome to Burrito Bonds by Tom.

Tom Winnifrith Bearcast: My fecking feet are killing me & will Neil Woodford's Waterloo be in Guernsey

Published 654 days ago

I start with a discussion abiut a 19 mile rogue bloggers training walk today and about Woodlarks which I compare to the big name charities. I beg you to join the roll call of heros HERE. Then I look at Neil Woodford and events in Guernsey and explian in detail the role of the FCA and the ACD and why this could collapse very soon indeed. I discuss why no IFA worth his or her salt can risk not advising clients to redeem.

And this week’s disaster for Neil Woodford is…..Guernsey

Published 654 days ago

The big news for Neil Woodford this week is that his joke listings in Guernsey have been suspended, casting a big shadow over his tactics of playing with the rules over the unlisted stocks within his portfolio. The questions ahead are whether they will now be booted off the Guernsey International Stock Exchange, and what the FCA will demand of him in response.

Tom Winnifrith Bearcast: Why Julie Meyer was the odd one out & the mystery of Toople and what it did not say

Published 656 days ago

I start by talking you through yesterday's Odd One Out contest explaining the schoolboy error made by Nigel Somerville and others. I look at the Autolus news in relation to Woodford Patient Capital Trust (WPCT) where as a loyal shareholder I shall be attending the May 15 AGM in Oxford with a few questions for Neil "nomates" Woodford. I flag up a shocking little episode at Clear Leisure (CLP) which should make you worry about Octagonal (OCT) and Inspirit (INSP) given that their FD is disgraced Niliesh Jagatia  then discuss Management Resource Solutions (MRS) and finally, in detail, Toople (TOOP). Tomorrow I really will read out a Woodlarks heros roll call. Please join that list ahead of then HERE 

Not such good news for Neil Woodford: Autolus announces $100m fundraise at $24

Published 656 days ago

No doubt Neil Woodford will be delighted that his good friends at Crystal Amber think they can realise the equivalent of 123p a share from Allied Minds (ALM). No matter it is a loss, it will be cash in the bank – much needed – IF Crystal gets control and IF the assets are worth what they think and IF they manage to sell them. Meanwhile, dear old Neil – having yet again spunked more other people’s money on Kier (KIE) which promptly fell to a new low - is now faced with a cash-call from Autolus (Nasdaq: AUTL).  What will he do?

Tom Winnifrith Bearcast: Brokerman Dan takes a 3% stake and would you Adam & Eve it ( again)?

Published 657 days ago

In today's bearcast I look at Cabot Energy (CAB), Andalas Energy (ADL), Eve Sleep (EVE), Indivior (INDV) and, with Neil Woodford in mind,  Allied Minds (ALM).  To join the roll call of heros go HERE 

Good news for Neil Woodford as Allied Minds falls under the gaze of Crystal Amber

Published 657 days ago

There has been lots of good news for Neil Woodford – aside from the joke listing of Proton Partners on NEX. Last night, AIM-listed investment company Crystal Amber Fund Limited (CRS) announced its monthly NAV and in it we learn that it wants to take over the running of Allied Minds with a view to winding it down. The good news is it thinks it can realise the assets at a big premium to the then current share price. The bad news…..well, the criticisms of the current arrangements are eyewatering. Was Neil really happy with this, and if not, why did he not do something about it?

Oohh…bad luck, Neil!

Published 658 days ago

Tom Winnifrith noted in yesterday’s Bearcast that Neil Woodford had once again been selling liquid dividend payers in order to meet redemptions and so that Neil can prove the market wrong (reference Keir – which  slid alarmingly again today). In this case it was New River REIT (NRR), where he appears to have sold a large chunk of his holding to his old mates over at Invesco last Tuesday.

Tom Winnifrith Bearcast - another high yielding blue chip Neil Woodford is having to dump & another shite note from FinnCrap

Published 659 days ago

In today's podcast, my last Monday bearcast from the civilised south as opposed to the Grim North,  I start with a look at another blue chip high yield stock Neil Woodford is being forced to sell as a result of the flood of redemptions. Then I have a revelation of shame about Daniel Stewart (DAN) and executive largesse. Then I look at the Yourgene (YGEN) trading statement and the lamentable research note it produced from FinnCrap (FCAP) which I reproduce in full below. Really: it is time to sack FinnCap and get a proper broker on board Finally a look at Adept4 (AD4) and an appeal to you all to join the roll call of heros HERE

This week’s top disaster for Neil Woodford

Published 660 days ago

Our good friends over at Citywire have again come up with bad news for Neil Woodford, in revealing that investors in his Equity Income Fund (EIF) reacted badly to last month’s sequence of dismal news by cashing out to the tune of £160 million. Having started March with £4.7 billion, EIF slumped to £4.4 billion last month which suggests that redemptions are not the only problem for Woodford.

ShareProphets readers tips for 2019 competition – (late) March update

Published 662 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

Tom Winnifrith Bearcast: Happy Birthday Dad, Ooh Er MRS & time to back Mr Farage

Published 662 days ago

Happy Birthday Dad. I hope that you enjoy your "medicinal" apple based gift. I am about ten days from moving house and have just completed a mail relocation form so I shall get my postal vote for the Euros forwarded. I dislike many of the creeps who surround Nigel Farage but his Brexit party has my vote in the bag and I explain why. I look at Management Resource Solutions (MRS) as another red flag emerges for this insolvent piece of crap. I cover Westminster Group (WSG) run by loathsome swine Tony Baldry, Audioboom (BOOM), Woodford Patient Capital Trust (WPCT) and his other dogs and Purplebricks (PURP) in a Joshua interrupted podcast.

Neil Woodford uber dog WPCT releases FY18 Results – what about the cash?

Published 662 days ago

This morning saw Woodford Patient Capital (WPCT) release its annual results for 2018. The key points seem impressive: an increase in NAV per share from 91.33p to 97.61p, more disruption tomorrow (along with the disruptive jam) and running costs are just 0.2% (only because the management bonus is triggered at 10% per year and so far NAV has declined). But they say follow the money ….. what about the cash?

A double whammy for Purplebricks as two sinners repenteth: the writing is on the wall

Published 662 days ago

Two high profile sinners repenteth and the writing is now very firmly on the wall for Purplebricks (PURP) as it starts a year when it will almost certainly run out of money. The sinners: broker Berenberg and Britains's most conceited fund manager Neil Woodford.

Kier shares in freefall again as the man who knows best is STILL buying

Published 664 days ago

Neil Woodford is nothing if not brave – but I suppose given his crashing equity income fund, bravery is about the last option open. This morning it was announced that he has again been topping up his holding in Kier Group (KIE). Meanwhile the shares have now fallen below the low-water mark out in during the rights issue fiasco. So is it brave, or is it a Hail Mary shot?

Tom Winnifrith Bearcast: A very old GF was just too "nice" - why the FCA & other regulators are so totally fecking useless

Published 667 days ago

Thanks for your kind emails on UK Investor and also on Uncle Chris Booker. In today's bearcast I go further on the growing scandal we are uncovering at Management Resource Solutions (MRS) and also at Nigel's work this weekend on Neil Woodford. The common feature is a regulatory approached based on box ticking rather than looking at the  real underkling swizzle so to protect investors.

With a big hat-tip to Citywire, is this the biggest Woodford scandal yet?

Published 667 days ago

Citywire yesterday published an article which stated that Neil Woodford has listed four previously unlisted investments held by  Woodford Equity Income Fund on the International Stock Exchange in….er….Guernsey. Surely even Guernsey’s own residents would agree that this is not exactly the London Stock Exchange! But the odd thing is that Woodford himself seems to have been a tad reticent on the matter – I don’t see any headline proclaiming great success in gaining a listing in Guernsey from Neil Woodford! Why might that be? And that appears to be the nub of the issue.

Notes from Underground: As a remainer, I can only be happy about utter chaos

Published 667 days ago

If you had told me last year that 48 hours after Independence Day we would still be in the European Union, I would ask you have a glass of the same thing that you were drinking.

Tom Winnifrith Bearcast on this Brexit betrayal day: Answering a Neil Woodford question for Roger Lawson.

Published 669 days ago

Neil Woodford needs money for his funds urgently but to give to a far more deserving cause which I may have mentioned once or twice go HERE. I discuss damning statistics for the AIM Casino, Inspirit (INP), Mobile Streams (MOS) and in the Woodford section Paypoint (PAY), Imperial Brands (IMB) and now Strix (KETL), another jolly good income and growth play he is dumping. 

Tom Winnifrith Bearcast: Some cracking news for Neil Woodford, I'm a shareholder now!

Published 670 days ago

The threat of a photo of Dan Levi's Y Fronts post sore bottom training walk remains, so please donate to Rogue Bloggers for Woodlarks HERE. In today's podcast I look at Condor Gold (CNR), the struggling explorer backed so heavily by my good friend Jim Mellon. It looks to be in real trouble. Then good news for Neil Woodford. As of today I am a loyal shareholder in his Patient Capital Trust (WPCT) and looking forward to the AGM greatly. I have a favour to ask of bearcast listeners living close to Oxford who fancy a day out in the City of Lost Causes in late May or early June.

Time Out – 2018 results argue “significant progress”… but it’s again vast cash guzzling from another Woodford dog

Published 670 days ago

Media and food and cultural markets group Time Out (TMO) has announced results for 2018, with CEO Julio Bruno emphasising “in light of the progress made in 2018, we are confident in the outlook for the group in the year ahead. 2019 will be a transformative year”. The shares have currently responded... er, slightly lower to 90p – and comparing to a 150p June 2016 IPO…

BREAKING: Neil Woodford – whilst buying dividend slashing dog Kier (while everyone else sells), he’s been selling high (but safe) yield Paypoint

Published 672 days ago

This morning Nigel noted that Neil Woodford had been buying Kier – around 1.2% of it in the wake  of last week’s awful results and a 79% pruning of the dividend. It is not exactly the sort of performance for an equity income fund, I would have thought! But It turns out that Neil has also been selling Paypoint (PAY) – which trades on an underlying yield of c 5.5% (but 9.9% if you include bonus payments) and where the payout is safe as houses. That sounds perfect for an equity income fund! I must be stupid…..

Tom Winnifrith Bearcast: Oi Neil Woodford where did £90m go in one day? And the sores on Dan Levi's bottom

Published 672 days ago

In today's bearcast I speculate how Neil Woodford's flagship dog, his Equity Income Fund, appears to have lost £90 million since the weekend.  I look at RM2 (RM2)  - largest shareholder Mr Woodford - where a statement is needed as insolvency beckons, at Motof Bio (MTFB) and at Big Sofa (BST). I also discuss Dan Levi's bum and the problems generated by his latest 20 mile training walk for Woodlarks. If you'd rather I desisted from any further discussions of this nature make a donation to the Rogue Bloggers walk for Woodlarks NOW HERE

A good (short) idea from Matthew Earl

Published 672 days ago

On Saturday I shall be on the main stage at UK Investor in a bears panel with the Dark Destroyer Matthew Earl and new bear on the block Duncan Stewart. We can promise fireworks. Here is a taster, an idea from Matt...

Purplebricks – is it time for a Full Year lack of profits warning?

Published 672 days ago

Britain’s most conceited fund manager, Neil Woodford, has been catching the Purplebricks (PURP) falling knife all the way down and, as at October, his funds owned 29.25% of the company and so he really can’t buy many more shares. And the problem is that no-one else out there is daft enough to throw good money after bad and thus the stock continues to head south. At 123.8p to sell the shares are almost back at the level of the most recent profits warning on February 21. That tells you that another warning, a full year one, is one the way.

Woodford knows best……as he buys more Kier whilst everyone else sells

Published 672 days ago

Last week fully-listed Keir Group (KIE) followed its disastrous rights issue of December and its awful trading update of earlier this month with pretty awful results – and a 79% cut in the dividend. The shares collapsed (again) and the short sellers piled in. But there was one lone voice buying – yes, you guessed it: Neil Woodford.

Now even Roger Lawson sticks the knife into Neil Woodford

Published 673 days ago

The trouble with Roger Lawson of ShareSoc is that he is too much of a nice guy. As a keen reader of this web site he has more than enough ammo to really stick it to hapless Neil Woodford, the posterboy of the we must reward failure movement. But in his own way, Lawson has today joined we Woodford Bears with his own attack. He opines and the underline is mine.

Tom Winnifrith Bearcast: after 30 years of kissing Neil Woodford's arse Jeff Presstrip becomes the penultimate rat to abandon ship

Published 674 days ago

Yesterday's bearcast explained the massive red flag of Neil Woodford having to sell his crown jewelsd, shares in Imperial Brands. Today, his most devoted follower on the sewer that is Fleet Street, Jeff Prestridge of the Mail on Sunday has, after 30 years of loyally kissing Woodford's arse at least once a fortnight, abandoned ship. The ship once swarmed with parasitic and, often unthinking, rats. Now there is just one left, Hargreaves Lansdown. I explian what this all means. If you enjoyed this, almost 100% profanity free, bearcast, follow a bloke from the Grim North who donated enough to buy a whole house in the welfare safari and support the Rogue Bloggers for Woodlarks HERE.

Notes from Underground - Of course I understand our readers

Published 674 days ago

Tom always tells me that I don't really understand our readers, which is bollocks. So, I assume that most ShareProphets readers were all out in London yesterday demanding a new Brexit referendum, right?

Tom Winnifrith Bearcast - the death of Debenhams and number crunching Neil Woodford as he tells a massive fib

Published 675 days ago

In today's bearcast I look at the almost certain death of Debenhams (DEB) and the wider issues in retail. Then I engage in some very detailed Neil Woodford number crunching as we unearth evidence of the severity of his liquidity crisis.  If you enjoyed this, almost, profanity free bearcast, follow a bloke from the Grim North who donated enough to buy a whole house in the welfare safari and support the Rogue Bloggers for Woodlarks HERE.

Red Flags at Night - Neil Woodford special

Published 675 days ago

I still see the occasional after-hours RNS which, were I a shareholder in the company concerned, would make my blood boil. Yesterday a release from AIM-listed Woodford Dog Netscientific (NSCI) at 4.42pm on a Friday evening ticked all the boxes.

And this week’s biggest disaster for Neil Woodford is…..

Published 676 days ago

Neil Woodford has had another rotten week. Netscientific, which it seems he’s not going to fund any further, saw its holding in PDS listed on Nasdaq via a merger at $10 a share and the shares promptly headed south to close last night at just $7.65 – a drop of 23.5% which won’t help Netscientific keep the lights on much.

Tom Winnifrith Bearcast: if you wait by the river for long enough...

Published 679 days ago

In today's podcast I explain why Julie Meyer has spurred me to battle on, though I do consider calling it a day now and again. I look at Quindell (QPP), London & Capital Finance, Neil Woodford, and flag up that the FCA has opened or stepped up an enquiry into another company I covered in some detail. You can speculate which, more details when Winnileaks comes good.  I look at Red Emperor (RMP), IQE (IQE), Verseon (VERS) and Blue Jay Mining (JAY). If you enjoyed this, I think, profanity free bearcast, follow a bloke from the Grim North who donated enough to buy a whole house in the welfare safari and support the Rogue Bloggers for Woodlarks HERE.

And another Neil Woodfjord (geddit?) Disaster: Thin Film

Published 679 days ago

Apologies for missing it on Friday, but it turns out that there was yet another disaster for Neil Woodford on Friday as its Norwegian play revolutionising the world of chip and PIN, Thin Film (OB:THIN), announced a strategic update and corporate restructuring after hours. Uh-Oh……a strategic review! No wonder he was in such a bad mood as he lashed out at critics offering false analysis and fake news.

Woodford dog Netscientific clarifies on PDS, but is it telling the whole truth? Er....

Published 679 days ago

Neil Woodford dog, AIM-listed Netscientific (NSCI) seems to have been forced to put out a statement over its investee PDS which merged with Nasdaq-listed Edge Therapeutics (EDGE) and the combined entity is now listed as PDS Biotechnology (PDSB). 

Verseon Placing : Neil Woodford spunks $10m investor cash (again) at wrong price – all that is rotten in his failing empire

Published 679 days ago

Neil Woodford has today spunked £7.5 million more of his investors cash in a £7.7 million placing by joke company Verseon (VERS). It is a cynical and seedy waste of other folks cash which shows the moral rot that has set in at the heart of the crumbling empire of Britain’s most disliked, failing, fund manager.

Woodford Revolutionary Pharma-Dog Verseon launches blockchain nonsense. (PS- have you got $10m Neil?)

Published 680 days ago

In my piece of 24 January I predicted that AIM-listed Neil Woodford dog Verseon (VERS, but formerly VSN) would need more cash and this morning it announced its intention to raise $10 million through a subscription “for working capital” (yeah, more like ongoing losses…) Oh, and it wants to raise funds from a global investor base into its new blockchain security. Oh goodie, where do I sign up?!

Notes from Underground: This week's most read articles

Published 681 days ago

Yikes, it's getting worringly close to UK Investor Show time. Two weeks today, I'll be once again decompressing after the myriad speakers and exhibitors from this year's show. This will be the sixth UK Investor Show since its modest beginnings at the Excel Centre. (And don't go to the Excel Centre - it's at the much more convenient QEIICC in Westminster.). Incredibly it will be the nineteenth show organised by Tom Winnifrith.

Has Neil Woodford finally lost the plot completely? Blow up FT Interview suggests he has

Published 683 days ago

I see that Neil Woodford has had an interview published in the FT in which he lambasts critics determined to destroy his reputation, misinformation, lazy commentary, fake news, fake analysis which “pisses me off” and vents his frustration at the poor investment decisions of investors selling up.

EXPLOSIVE: Neil Woodford and the $2 billion spoof – Part 3: The truth always comes out in the end

Published 684 days ago

I couldn’t resist coming out of retirement today as I note that Benevolent AI published its group accounts today and my thoughts in the first two parts of this series back in May last year (HERE and HERE) have proven to be pretty much on the mark. This company, and in particular the $2 billion valuation, is an absolute spoof and Woodford is totally complicit in that - and making a fortune as a result. A good old-fashioned birching is too good for him.

NetScientific dissembles

Published 684 days ago

NetScientific (NSCI), the AIM casino listed investment dog backed by Neil Woodford, says that it notes its recent share price movement and confirms that it is not aware of any reason for such movement. It then goes onto to try and spoof any mug punters still reading..

Tom Winnifrith Bearcast: Do 13 year old mothers today still use Mothercare?

Published 686 days ago

In today's bearcast I discuss I3 Energy (I3E), Redde (REDD) and hapless Neil Woodford, Concepta (CPT), Optibiotix (OPTI), Yourgene (YGEN), Big Sofa (BST), Mirriad (MIRI) and Mothercare (MTC). If you enjoyed this, less than PC, bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.

And today’s Woodford disaster is………..(yet again) Eve Sleep as auditor raises going concerns

Published 686 days ago

Yesterday it was Kier (KIE) and today his attempt to disrupt the world of bedding takes yet another glorious bow, for AIM-listed Eve Sleep (EVE) has published its 2018 full year results. Oh, and Halosource (HAL), which was revolutionising the world of water, was formally booted off the AIM Casino this morning after not being bailed out. What chance a Woodford hat-trick today?

Redde – after Woodford buys more what about the “halted” dividend growth, “lack of dividend cover” & “broader pressure on margins”?!

Published 686 days ago

Following on Friday from Redde (REDD) an intra-day “Contract Update”, surely not ANOTHER disaster for Neil Woodford?!, Tom noted yesterday Woodford having bought more shares on the Friday. Cue the shares slumping to 90p yesterday – down another more than 14%!… and there are some other features which make Woodford’s move look particularly questionable…

£4 million of other folks cash spunked on a falling knife because Neil Woodford (again) knows better

Published 687 days ago

On Friday Redde (REDD) ‘fessed up that it had lost its largest contract. The yield on the shares by c.o.p Friday was more than 11%, screaming out that this company was now certain to slash the dividend. But as the stock collapsed from 130p to 104p (it is now 98p) one 'savvy' investor thought that, once again, he knew better...

Kier-blimey! Today’s Woodford disaster is Kier (again)

Published 687 days ago

Oh dear, oh dear, oh dear. Just when Neil Woodford might have thought it couldn’t get any worse (at least for a day or two), up pops fully-listed Kier Group (KIE) – whose rights issue refinancing saw the humiliation of being bailed out by the underwriters last December -  which seems to have found an extra £50  million of debt since its trading statement of just seven weeks ago……and capped  that with the announcement of a £25 million provision with regard to a redevelopment project at Broadmoor Hospital. As I write, the shares are at session lows of 412p  a drop of 85p, or 17%. Neil sure can pick’em.

Tom Winnifrith Bearcast: Why Hargreaves Lansdown CAN'T tell its clients to dump Neil Woodford and why the yield on EIF is set to crash

Published 688 days ago

I start with the utterly shite journalism of Jeff Presstrip in the Mail on Sunday which disgraces our profession as I explain HERE. Then it is onto Neil Woodford and two issues. First why HL just cannot tell its dumb clients to sell and, secondly, why the yield on the flasgship EIF will plunge from 4.1% today to something starting with a 2 within a year, if the fund still exists. That is by no means a given. If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.

Notes from Underground - Subscribers find a way

Published 688 days ago

Nigel and Tom's steady dissection of Neil Woodford's empire is clearly the driver of traffic on the site this week. But I think the story Tom Winnifrith is an irrelevant dinosaur says cheapskate "guru" on Twitter is the most quintessential.

Woodford Dog RM2: is silence golden or a sign of doom?

Published 689 days ago

Last year, as AIM-listed pallet revolutionising Woodford Dog RM2 (RM2) ran out of cash yet again (before good old Uncle Neil, armed with other people’s money rode to the temporary rescue, yet again) the company issued regular updates on its financial position. No doubt Neil was pleased, as the company eked out a few more weeks from the remaining cash. The last we heard from RM2 on its cash position was back on 23 November 2018 when we were told that following yet another placing (backed by Neil, with other people’s money) it had enough cash to last until April. We’ve heard nothing since….

Tom Winnifrith Bearcast: The tide is going out so is Avril Palmer-Baunack wearing a swimsuit at all?

Published 689 days ago

In today's podcast I look at Neil Woodford's latest disaster Redde (REDD) where i accuse the management led by Avril of recklessness. I believe that she is guilty of the same at BCA Marketplace (BCA) and explain why that is the next car crash for Neil Woodford. Then there is a note on GVC boss Kenny Alexander whose behaviour last week marks him down as a prize shit. And that is me being charitable.  If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.

Redde – intra-day “Contract Update”, surely not ANOTHER disaster for Neil Woodford?!

Published 690 days ago

“Accident management and legal services” company Redde (REDD) has made an intra-day (12:18pm) “Contract Update” announcement. I’m guessing this ain’t going to be good news…

Tom Winnifrith Bonus Bearcast: from a failed fund manager to a failing one (Neil Woodford) - about those %s and the FCA

Published 690 days ago

In this bonus bearcast I discuss breaches, intentional and otherwise and all the sorts pf percentages that the FCA will be demanding Neil Woodford provide on, I suspect, a now daily basis as his funds continue to implode. I play our various scenarios but none look good for Neil.  If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.

Tom Winnifrith Bearcast: Neil Woodford's spivvery and what about Sosandar?

Published 691 days ago

In today's bearcast I discuss Neil Woodford's spivvery regarding Provident Financial (PFG), have a smoking rumour on Argo Blockchain (ARB) - which we own - comment on I3  Energy (I3E) as it dissembles and look at Quiz (QUIZ) and Sosandar (SOS) as well as Metals Exploration (MTL). If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.

Woodford dumping Provident Financial – by choice or under FCA instruction?

Published 691 days ago

Amid all the hoo-haa over Neil Woodford’s transfer of unlisted dogs from his equity income fund (EIF) in return for Woodford Patient Capital Trust (WPCT) paper, it seems he has been again pressing the sell button. Of particular interest is the sale of 1.5 million shares in Provident Financial (PFG), shares over which only a few days earlier he had offered a letter of intent to accept the all-paper offer from Non-Standard Finance (NSF). What a spiv!!...

ShareProphets readers tips for 2019 competition – end February update

Published 693 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

NetScientific – de-listing GM adjourned indefinitely as would be defeated, where now for this Woodford dog?

Published 694 days ago

Previously writing on NetScientific (NSCI) it was “Conclusion of Strategic Review” does indeed look more Neil Woodford disaster vicar – including that “the board has concluded that it is in the best interests of the company and its shareholders as a whole to cancel the admission of the ordinary shares to trading on AIM, re-register the company as a private limited company”. There’s now been updates on the General Meeting…

Tern – takes a walk on the Wyld side

Published 694 days ago

AIM-listed jam-tomorrow investment company Tern plc (TERN) updated the market this morning on its wholly-owned investee flexiOPS with lashings and lashings of jam-tomorrow and oopsie, a profit warning buried in the text with regard to Wyld Technologies.

Has the ghost of Cynical Bear visited the Sunday Times, as it "reveals" the true risk of Woodford's Equity Income fund?

Published 695 days ago

Another day, another mainstream rag picks up on yet another story that ShareProphets readers have been well aware of for months: this time the Sunday Times has "revealed" the pile of startups and cash-hungry mouths-to-feed in Neil Woodford's Equity Income fund. Of course, Cynical Bear was doing just that over a year ago on these pages. I guess we should be grateful that it wasn't put out as an exclusive!

Notes from Underground - I am big, it's the pictures that got small

Published 695 days ago

The top ten most-read stories this week, the most popular Bearcasts this week, plus a bonus chart: World Stock Markets: 1899 v 2019.

Tom Winnifrith Bearcast: Neil Woodford fools the morons on the deadwood press (again) and Malcolm's worst article yet

Published 696 days ago

I am losing my voice and have had to postpone my training walk today. Tomorrow, come what may, I will do 15 miles. Think of an old and sick man, listen to my croaky voice and sponsor a rogue blogger for Woodlarks HERE. In today's podcast I look at how Neil Woodford has legged over the deadwood press yet again, at why i remain bearish on equities and at Malcolm's worst ever article, pure cobblers on Brexit and shares.

Tom Winnifrith Bearcast: Susan Searle of WPCT J'accuse & Great Scott: Revolution Bars is enough to turn a man to drink

Published 697 days ago

I suggest listening to my Neil Woodford scandal bonus bearcast first HERE but I have another bone to pick with Susan Searle, the chairman of Woodford Patient Capital Trust (WPCT) on how she has screwed investirs today. Then I look nat Red Emperor (RMP), 88 Energy (88E), Pantheon Resources (PANR) and at Cabot Energy (CAB). Finally a look at the latest woes at Revolution Bars (RBG) - you really would have thought that Britain's thirstiest share blogger would have nailed this as his specialist subject but it appears not. If you enjoyed this podcast please support the EIGHT rogue bloggers for Woodlarks with a small donation HERE

Neil Woodford keeps the FCA plates spinning a little longer

Published 697 days ago

It is almost possible to feel sorry for Neil Woodford. Al three of his funds are overdrawn, performance has been dire and those nasty people at ShareProphets keep on poking fun at Britain’s most successful fund manager. And to cap it all it looks as though the FCA has been on his back too. And today dear old Neil has started a big swap of unquoted Woodford Dog paper for…..er….Woodford Dog paper in the form of WPCT.

Tom Winnifrith Bonus Bearcast - today's shocking news from Neil Woodford keeps the FCA at bay ...for a while

Published 697 days ago

Today we have news of a shocking transfer of unquoted crap from Woodford's flagship Equity Income Fund to Woodford Patient Capital Trust (WPCT). It may keep the FCA at bay on one point for a while but it is a joke that only serves to create fresh problems. And the RNS is misleading to boot on the issue of cash. Or lack of it. As I noted yesterday, the FCA would not tolerate this nonsense from any other fund manager but its pressure is forcing Nomates to act in an increasingly desperate manner. If you enjoyed this podcast please support the EIGHT rogue bloggers for Woodlarks with a small donation HERE

Tom Winnifrith Bearcast: the FCA must be having kittens over Neil Woodford, if it was anyone else it would have moved in by now

Published 698 days ago

I start today's podcast with an expansion on the themes in today's Tomograph, why I am so depressed about the currupt and rotten state of the West. I discuss Kenmare (KMR) and naked NEDs and then look at Neil Woodford with reference to today's IPO of Proton Partners (PPI). If this was any other fund manager the FCA would have moved in to replace him by now. If you enjoyed this podcast please support the EIGHT rogue bloggers for Woodlarks with a small donation HERE

More Norwegian disasters for Neil Woodfjord (geddit?): Thin Film and Idex

Published 698 days ago

morning the second of two Norwegian Neil Woodford dogs reported numbers to December. Thin Film (OB:THIN) announced more losses and SFA turnover in the wake of the abrupt departure of Richard Bernstein’s (of Crystal Amber)  announced on Monday. Idex (OB: IDEX) managed more or less the same, although it raised $25 million recently so at least it has cash to burn.

UPDATED: Neil Woodford, Proton’s NEX flop of an IPO, the scam on unit-holders – this stinks

Published 701 days ago

Eight days ago Neil Woodford’s PR spinners told their gophers in the lacky corrupt deadwood press, aka Peter Evans and Sabah Meddings of the Sunday Times to write a big puff piece about how Neil Woodford’ backed Proton Partners was planning to raise £50 million and list on the NEX lobster pot. It has not taken long for that fake news to be exposed, as no investors other than Woodford himself have been prepared to back this IPO – something revealed in the prospectus out today.

Woodford – latest numbers show borrowing disaster in the making as chickens come home to roost

Published 702 days ago

Woodford Investment Management has published its latest monthly numbers to the end of January from its Equity Income, Income Focus and Patient Capital Trust. At first glance it does not look too bad, but a more detailed examination shows that debt remains a central issue, as does redemptions, and Woodford Patient Capital Trust (WPCT) seems on the edge of imploding.

Notes from Underground - Global brands: pour one out for those who have passed

Published 702 days ago

If it is a week when Chris Oil is again in the news, there is very little I can add. So I present this amazing animated chart showing the change in global brands since 2000. It's wild.

Tom Winnifrith Bearcast: No! Neil Woodford, this is not a fix and Malcolm Stacey ignores Anna Soubry's arse

Published 703 days ago

I start with a brief discussion of my first longish Woodlarks training walk. 12 Miles done and dusted. As you consider my rather smelly feet please make a small donation to rogue bloggers for Woodlarks HERE. Then I  look at Provident Financial (PFG) and mention BCA Marketplace (BCA) and Purplebricks (PURP) en passant before commenting on Malcolm Stacey's article of earlier on penny shares.

Purplebricks – catastrophic warning: target price 0p

Published 705 days ago

You cannot say that this site has not warned you repeatedly. But some folks like Neil Woodford knew better. Britain's top share blogger (mornings only), Thirsty Paul Scott, was also a fan and we know how accurate his analysis is. I don't know about Scott but Woodford has been averaging down aggressively. Neil always knows better which is why he is worth £37 million a year. Today we have another high profile horror story for Britain’s most conceited fund manager & yet another shocker for the nation's thirstiest share blogger, with a truly shocking lack of profits warning. I shall explain below why this makes the target price 0p....it is enough to turn a man to drink.

Proton Beams to Neil Woodford’s rescue – nope this is just another spoof c/o deadwood press cocksuckers

Published 709 days ago

The Sunday Times “reveals” ( i.e. is told by Neil Woodford’s PR spinners) that his Proton Partners , proton beam centre operator, is planning a £320 million IPO and hoping to raise £50 million on, o-f all places, the NEX Lobster pot. This is a spoof but the deadwood press ( step forward Peter Evans and Sabah Meddings) are happy to assist the great one.

NetScientific – “Conclusion of Strategic Review” does indeed look more Neil Woodford disaster vicar

Published 711 days ago

Writing last month on NetScientific (NSCI), it was zero potential offerors; more Neil Woodford disaster vicar? – that following an announcement that, despite having stated it was undertaking a strategic review as “the board believes that the market is undervaluing NetScientific's portfolio”, it continued to not be in receipt of any approaches and, “not aware of any parties who might now make such an approach or initiate such discussions… the company confirms that it has closed the formal sale process”. Now a “Conclusion of Strategic Review” announcement…

The Grim Reaper comes a-calling on Woodford (twice). Will RM2 be next?

Published 712 days ago

Another bad day at the office for Neil Woodford as this morning he is mourning the loss not only of Halosource (HAL) – whose revolutionary water was not good enough to put out the insolvency fire – and Utilitywise (UTW) which called in the administrators as announced at no-one-is-watching o’clock last night (6.20pm) and confirmed this morning. Clearly Utilitywise couldn’t provide the water either.

Woodford – slammed by Bestinvest in table of dogs

Published 714 days ago

I pointed to Invesco and Woodford being named top dogs in the link to the article in the Telegraph at the weekend, but having looked through the latest issue of Spot the Dog from Bestinvest the data and conclusions are truly awful for Neil Woodford.

Notes from Underground: To the spivs on AIM, they probably date the world BS / AS (before ShareProphets and after ShareProphets)

Published 716 days ago

I just realised that we are coming up on our sixth year of publishing ShareProphets. (The actual date is in April).

January performance update: start of 2019 shorted AIM shares

Published 719 days ago

Early this year we showed the Shorted AIM shares at the start of 2019. After the first month of the year, here's the monthly update on performance (those in bold remain from 2018)...

Woodford Dog Allied Minds “extends cash runway” with a three card shuffle

Published 719 days ago

The good news for Neil Woodford – which might helpfully take his mind off the impending 100% wipe-out with his revolutionary water company (Halosource – see HERE) – is that investee Allied Minds (ALM) says it has extended its cash runway to support Allied Minds’ activities into 2021. I guess that should mean this collection of dogs won’t need bailing out by Woodford for two years, except Neil is bailing it – or rather two of its investees  - out at the moment!

Neil Woodford disaster Halosource – the game is almost over & it's a wipeout

Published 719 days ago

Halosource (HAL) was the company Neil Woodford backed heavily to disrupt the world of drinking water. Whatever…

Dividend Munchers – (almost) January update

Published 723 days ago

OK, I’m a bit late with this update and the last one wasn’t at all pretty as total returns weighed in at a depressing -1.4%. So much for being immune to a dodgy market! But the dividends are still rolling in and I’m still beating Neil Woodford….every cloud, and all that!

Notes from Underground: When the Guardian is on our side, what is to be done

Published 723 days ago

ShareProphet's least favourite newspaper points out that digital-only news disrupters, which have raised billions of dollars in venture capital, have made around 2,000 staffers redundant this week. Those publication are names liek Buzzfeed, VICE, and Huffington Post.

Tom Winnifrith Bearcast: Hey Evening Standard wanker Journalists #Learntocode

Published 724 days ago

In today's podcast after discussing late night sex in Clerkenwell, I discuss the history of Daniel Stewart (DAN) and how pride, real pride, came before its fall and the lessons one can learn. I look at Neil Woodford dog Utilitywise (UTW) and i look at the newspaper industry and the £10 million loss making Evening Standard and the reasons that its wanker journalists may today claim credit for other folks work but tomorrow they will have to #learntocode in order to put bread on the table.

ShareProphets readers tips for 2019 competition – end January update

Published 725 days ago

Having asked for readers tips for 2019 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2019)...

The Only Fund manager worse than Neil Woodford - the BBC doubles up on Tesla

Published 726 days ago

In the old days ( i.e only three years ago) the BBC pension fund was invested, as it should have been in safe dividend plays like BP, Shell and BAT Industries. But that sort of portfolio played badly with the uber politically correct state funded broadcaster. So its all change. The new top 20 holdings as at 31 March 2018 are below.

Boxhill – death marginally postponed as Razzall rides into the sunset

Published 727 days ago

I just don’t know where to start! AIM-listed Boxhill Technologies is back trading – at least for now – having released bullshit numbers (as discussed by Tom Winnifrith HERE) for its FY to Jan 31 18 accounts and the following interims. We are told on the calamity that was the disposal of Emex that the board is confident the £2 million loan note is good, but that Lord Razzall, Clive Hyman and Andrew Flitcroft are departing the board by the end of July (so who is left to say the loan note is good?) and that the “sinking fund” which was supposed to make it good hasn’t got off the ground yet. Er…right.

Verseon – tomorrow’s Neil Woodford disaster edges closer as Xavier walks after just 16 weeks

Published 728 days ago

Noting that one of Neil Woodford’s earliest investments for Woodford Patient Capital Trust (WPCT), Verseon (VSN) – trading on AIM but a US biotech outfit in the disruptive space (natch) – appears to be headed for trouble I commented that at least the company has the services of the good Xavier Rolet (yes, the former LSE boss!) on the board. So all’s well! Well, it was until this morning! Oh dear….

Sensyne – a Neil Woodford success story? No: Red Flags (and accounting blooper) Central

Published 728 days ago

AIM-listed Sensyne Health (SENS) was spun out of Drayson Technologies and joined the Casino last August, raising £60 million in the process and has just published its first set of accounts as a listed company. No doubt Neil Woodford will have enjoyed the market response as the shares put on 7% (Woodford holds 20%), although not enough to extinguish his pain at Utilitywise (UTW) as the latter announced the dreaded “strategic review”. I doubt he will have enjoyed Sensyne’s ride as a plc either, as the IPO was at 175p per share and even after this rise the shares are 167p. Hardly a cracking endorsement! So what does Sensyne do? Well, it is – of course – disrupting its world! According to Woodford:

Utilitywise – “Strategic Review and Formal Sale Process” = shares suspension ahoy as ‘not sufficient’ funding interest; why’s that Neil?

Published 729 days ago

Previously writing on Utilitywise (UTW), in July it was a “Strategy Update” only David Brent & major shareholder Neil Woodford are clever enough to understand? – with that including CEO Brendan Flattery attempting to reassure that “the strategy update outlined today will enable Utilitywise to meet its two new financial targets, as well as maximising the medium term potential from the business”, though I concluding of course though, there is no guarantee that it will – and I’ll continue to avoid at least until there is some clear net cash generation demonstration. Today a “Strategic Review and Formal Sale Process” announcement…

Tom Winnifrith Bearcast - a curate's egg of a day for Neil Woodford

Published 729 days ago

In today's podcast there are repeated references to Cheryl Cole as I discuss Utilitywise (UTW), Sensyne Health (SENS), Neil "smug bastard" Woodford, Flybe (FLYB), Eqtec (EQT), Phontonstar Led (PSL), Active Energy (AEG) and Altona Resources (ANR)

Tom Winnifrith Bearcast: An AIM CEO guide to misleading about the need for a placing

Published 730 days ago

I start with a detailed look at Neil Woodford's debt crisis at his Patient Capital Trust (WPCT) as exposed by Nigel earlier and explain what happens next. Then prompted by my Blue Jay (JAY) article I look, using various case stiudies, at how a CEO on AIM gives you a clear steer that he is not going to do a placing when he is going to do exactly that.

BREAKING: Neil Woodford – cash crisis at WPCT as Neil busts his borrowing limit

Published 730 days ago

An appertion came to me last night: it was the ghost of Cynical Bear, calculator in hand, telling me that the level of borrowing at WPCT has become a major problem for Neil-knows-best Woodford. And indeed it is: as at the end of December Gross Assets (ie before bank borrowings) stood at £969 million, according to Woodford. With net assets of 97.61p per share and 827 million shares that works out at net assets of £807 million and that means borrowing of a whopping £162 million, or 19.6% of NAV. Yikes!

Tom Winnifrith Bearcast - The Fat Bastard and his most useless words yet

Published 732 days ago

In today's podcast I look at Frontera (FRR) and the latest ramblings of the disgraced whore blogger Malcolm Graham Wood,  at Neil Woodford disaster Midatech (MTPH), at AIQ (AIQ), Flybe (FLYB), Tertiary Minerals (TYM), Tower Resources (TRP), and at Altona (ANR)

And today’s Neil Woodford disaster……Midatech (again): jam tomorrow, no cash today!

Published 732 days ago

AIM-listed Midatech (MTPH) is a cancer-busting company which uses its Q-Sphera technology which, according to Proative Investors, works in a different way to deliver the drug at the right time. Ah, so we have a disruptive cancer-buster…..step forward Neil Woodford, who backed the IPO back in 2014 (at 267p vs share price now just 3.4p!) and ponied up to support placings along the way. Oh dear. But it gets worse……although the PR comedy this morning makes up for it!

Tomorrow’s Neil Woodford disaster today – Verseon

Published 733 days ago

A note from the celebrated Cynical Bear last night got me looking into one of the very first investments made by Neil Woodford for the Woodford Patient Capital Trust (WPCT) – that of AIM-listed Verseon (VSN). Dum dum-dy dum, dum dum-dy dum, you’ll see the Red Flags flying here……Surely this shows all that is wrong with Woodford!

And today’s disaster from Woodford is (again!) Eve Sleep

Published 734 days ago

AIM-listed Eve Sleep (EVE) is another Neil Woodford disaster story – this time in the world of mattresses. Naturally, it is going to disrupt the world of bedding, a world obviously in need of revolution. Not!

Tom Winnifrith Bearcast: Luke Johnson is THE acceptable face of capitalism, Frontera (which is not), 1 day to go

Published 734 days ago

How I suffer for you dear listeners. All is explained. Then there is a long discussion on the administration of Patisserie Holdings (CAKE). I move on with a few more words on The Escape Group (ESC) which I covered HERE and then look at Eve Sleep (EVE) and the folly of Neil Woodford, Scancell (SCLP), Anglesey Mining (AYM), Ariana (AAU), Bluebird Merchant Ventures (BMV), Chesterfield (CHF) and Metro Bank (MTRO). Finally it is one day to ouzo time (again) on Frontera Resources (FRR).

Notes from Underground: Why read when Bearcast is around?

Published 737 days ago

Since I broke up the leaderboard into stories and Bearcasts—as a way of shoehorning in more stories—readers don't really get to see the domination of Bearcasts on the leaderboard, much to Tom's irritation.

And today’s Neil Woodford disaster is……..the equity income fund

Published 738 days ago

Last night Woodford Investment Management released its latest update for the Woodford Equity Income Fund, to 31 December 2018. The fund had fallen to £4.98 billion as at 30 November 2018. At year end it had slipped again – to £4.67 billion. Oopsadaisie Neil, another £310 million gone!

NetScientific – zero potential offerors; more Neil Woodford disaster vicar?

Published 741 days ago

An intra-day (11:08am) announcement and Woodford Investment Management the major shareholder. What’s the chances this announcement from self-styled “transatlantic healthcare IP commercialisation group”, NetScientific (NSCI) ain’t going to be good…

Provident Financial – today's main Neil Woodford disaster - warns on expectations, negative macro headwinds

Published 742 days ago

There are, in fact, two Neil Woodford disasters today. The other one is covered in bearcast HERE. Meanwhile, having updated on 28th December that Woodford Investment Management had increased to a more than 24% shareholding, a “Trading update” from Provident Financial (PFG) today – and, natch, the shares are currently circa 20% lower, heading towards 500p, on the back of it…

Tom Winnifrith Bearcast: two disasters for Neil Woodford today

Published 742 days ago

I start with a few thoughts on this, the birthday, of Martin Luther King. Then onto the two disasters for the £37 million smug bastard, Neil "nomates" Woodford: Netscientific (NSCI) and Provident Financial (PFG). I look at Big Sofa (BST) and Yourgene (YGEN) , my nap for Q1, then onto Victoria Carpets (VCP) and finally a detailed laook at the fraud that is Eden Research (EDEN).

Woodford - having failed to bring a boardroom coup at Stobart, now it's time for Kier

Published 743 days ago

I see that Neil Woodford is reported to be leading efforts to replace the top executives of fully-listed Kier Group (KIE), according to a report on Sky News. This is, of course, in the wake of a rights issue to pay off debt which fell flat (to put it mildly) and relied on the underwriters to be completed….and in the wake of Woodford stating on its website in September that we had a reassuring meeting with management today, which plans to substantially enhance the company’s cash generative capabilities… Overall, the company’s outlook remains very encouraging. Share price then – around £10….now it is just a fiver. Oops!...

Notes from Underground: reminiscing about 80s high streets that I have never seen

Published 744 days ago

When I look at the high streets today, I don't see a significant difference from high streets in Canada or the United States, aside from shop names and even those are tending to be global now.

Neil Woodford: the stench of greed, the smell of failure is now dwarfed by the odour of bullshit, which the MSM swallows in full

Published 747 days ago

Yesterday we exposed the sheer greed and reward for failure of Neil Woodford, trousering a small fortune for just one year’s work, as investors in his funds lost a packet. Today the deadwood press have followed up and have swallowed bullshit without question. It is a sad sight and shows why the MSM is not fit for purpose.

Tom Winnifrith Bearcast: Neil Woodford disgusts me ( as a capitalist) & vindicated on Anglo African Oil & Gas

Published 748 days ago

In today's podcast I start with the shocking revelations about Neil Woodford's greed and reward for failure. Folks like Nomates are more of a threat to capitalism than Lenin. I am vindicated on Anglo African Oil & Gas (AAOG) and await apologies from the Bulletin Board Morons. I discuss the whole affair including the shameless behaviuour of FinnCap (FCAP). Truly FinnCrap is a moral sewer. I discuss First Derivatives (FDP), offer up my nap buy for Q1 2019 and have some questions that require an urgent answer from John Gunn's Octagonal (OCT) 

Hargreaves Lansdown gives Neil Woodford another Blow Job as its clients lose even more money

Published 748 days ago

As this morning’s shock revelations about Neil Woodford’s greed and reward for abject failure start to sink in, I imagine that many investors in his funds will be feeling a deep sense of disgust and regret. Perhaps they will blame those who advised them to invest and who, as the performance has gone from bad to worse, to even worse, have told them to hang on or average down.  Perhaps the biggest cheerleader has been Hargreaves Lansdown which has just published another blow job type piece on Woodford.

SHOCKER!! How much dividend did Neil Woodford take for losing his investors’ cash? Unacceptable Greed exposed

Published 748 days ago

Neil Woodford’s Woodford Investment Management results for the year to to March 31 2018 have finally been released. The good news is they were filed on time – they were received by Companies House on Christmas Eve. The bad news is that over the period his equity income fund lost around 13.5% for his unit holders whilst the FTSE All-Share was broadly flat. And the shocker? Read on! This is the unacceptable face of capitalism, monstrous greed, as failure is rewarded...

Tom Winnifrith Bearcast: Trying to understand how a moron thinks - ref AAOG

Published 749 days ago

Following on from yesterday's bearcast I discuss the noise and the silence surrounding Anglo African Oil & Gas (AAOG). I look at ITM Power (ITM), Cabot Energy (CAB), Starcom (STAR), Quadrise Fuels (QFI), IQE (IQE), Accrol (ACRL), uber-smelly Independent Oil & Gas (IOG) and Footasylum (FOOT)

Meet PushPullGymApparel - He is a Moron. He owns shares in Anglo African Oil & Gas

Published 749 days ago

Meet another charmer from twitter. Natch this poltroon also seemed convinced that the demonic TW was short (I was not!) his beloved Anglo African Oil & Gas (AAOG), not just being a good journalist and breaking a story.

Meet Alec B - he owns shares in Anglo African Oil & Gas and he is a moron

Published 749 days ago

Alec B is a moron. Alec B has two followers on twitter so it looks as if the world knows he is a moron and Alec B owns shares in Anglo African Oil & Gas (AAOG) so that is proof he is a moron as you can see below.

Who do you think you are KIDding, Mr Woodford?

Published 750 days ago

The new KID, or Key Information Document, for Woodford Patient Capital Trust (WPCT) arrived in my inbox this morning. This is an FCA regulated document, and supposedly gives you an idea of the potential returns under various scenarios. It also tells us that it is categorised as number 4 on the risk indicator (up from 3 last time). So let’s see what we might make if we hold the fund for the minimum recommended term.

Tom Winnifrith Bearcast: AAOG £4m placing at 10p? And what do IFA's who have stuffed clients into Woodford do now?

Published 750 days ago

In today's bearcast I bring you a hot rumour. The King of the spiv bucket shops Jon Bellis of Novum is apparently trying to raise £4 million at 10p for Anglo African Oil & Gas (AAOG). I look at Sound Energy (SOU), Andalas (ADL), delays in selling houses and in a similar vein what IFA's who have put clients into Woodford funds do next. I also look at Gear4Music (G4M) and director share buying which is a sell signal. I make a brief comment on Optibiotix (OPTI) and almost tie it in with a mother-in-law joke but resist the temptation.

Neil Woodford late filing his Annual Report Caption Contest winner is

Published 750 days ago

Now that it is double official that Woodford Investment Management did not file its annual report on time we should award a semi naked photo of Britain's top share blogger (mornings only) thirsty Paul Scott as we pick out a winner of The Neil Woodford late filing caption contest. As you can see here there were a good few entries but the best caption for the picture below came from:

UPDATED: Neil Woodford was overdue with his accounts but has now filed - Companies House Double confirm

Published 750 days ago

Belatedly Woodford has just filed accounts at Companies House - they will b e available in 5 days. Last Week the old Companies House website stated that Woodford Investment Management had not filed its accounts for the year to March 31 2018 by the December 31 deadline as we showed HERE. This morning, as you can see below, the new website has showed the same thing. What was Britain's most conceited fund manager not so keen we see. The 2017 accounts may give a clue.

Notes from Underground: For 2019, we promise more of the same

Published 751 days ago

I was reading the Most Read ShareProphets Articles of The Year piece posted on New Year's Day and a throught stuck me: not one of the top 20 stories was a tip.

Neil Woodford's missing annual report caption contest

Published 752 days ago

The FCA must be all over him on this matter as Neil Woodford is now 4 days late with the Woodford Investment management annual report. What is he hiding? As we wait for Britain's most conceited fund manager to come clean and file, I invite you to provide a suitable capition for the image underneath in the comments section below. As ever the prioze for the wittiest entry is a semi naked photo of Britain's top share blogger (mornings only), thirsty Paul Scott. The deadline to enter is midnight Saturday, January 5.

Tom Winnifrith Bearcast: a tale of two Morons - Craig the IOG shareholder and a chap called Neil

Published 753 days ago

In today's bearcast I have a hot rumour about Neil Woodford and I look at a moron called Craig who owns shares in Independent Oil & Gas (IOG) and is a classic moron. I look at that company at Circassia (CIR) - a Woodford dog - and at Gear4Music (G4M). Tomorrow I take my family and my son Joshua's godfather Lucian Miers to the London Stadium to see mighty West Ham in the cup so I'm not sure when Saturday copy will arrive.

Neil Woodford rolls the dice at GYG. Meanwhile, Companies House still awaits…..

Published 753 days ago

Is it the kiss of death? Last night it was announced that Neil Woodford had upped his stake in struggling AIM-listed yacht maintenance outfit GYG from 23.43% to 24.08%. Readers might recall that this tactic rather backfired with fully-listed Kier Group (KIE) and Purplebricks (PURP) and..the list goes on and on.

BREAKING: It is official – Neil Woodford is late with his accounts: what is he hiding?

Published 754 days ago

Last year Britain’s most conceited fund manager, whose flagship fund is ranked 241/241 for performance,  Mr Neil Woodford filed accounts 11 days before the deadline, on 20 December. This year Woodford Investment management has yet to file its accounts for the year to March 31 2018. It is late. It will be fined. The FCA will be having kittens.  You want proof?

The ShareProphets share tips of the year 2019 – No 22 is from Tom Winnifrith

Published 756 days ago

Between Christmas Day and January 2nd we shall be publishing more than 20 share tips of the year – buys and sells. The twenty second and final tip is the third from Tom Winnifrith.

What is Neil Woodford so keen to hide from you all This New Year's day?

Published 756 days ago

In 2017 Neil Woodford filed accounts for Woodford Investment Management, due by December 31, on December 20^th. It was thus at a time when no-one was reading the financial press that it emerged that despite a shite year for his investors, for to the 12 months to March 31 2017, Neil himself had trousered £7 million in dividends as a reward for being so useless.

The 20 most read articles of 2018, plus the 20 most listened-to Bearcasts

Published 756 days ago

After 365 days of cracking financial journalism, here are the top 20 stories that ShareProphets readers were obsessed by. 

Dividend Munchers – December update: a bad month, but still beating Neil!

Published 757 days ago

It has been a nasty month – and with New Year’s Eve still to come it could get nastier. So how is my little portfolio of high-dividend payers faring, and am I still doing better than cash in the bank (which is what I was, as a bear of almost everything, looking to achieve)?

Tom Winnifrith Bearcast - 6 New Year's Resolutions

Published 758 days ago

Nope Cheryl Cole is not mentioned.  But plenty of other old faves including Quindell (QPP), Globo (GBO), MySquar (MYSQ), Julie "Lingerie on Expenses" Meyer, Big Sofa (BST), Wishbone (WSBN) and Neil Woodford are. There are six resolutions. The first concerns fitness and the walk for Woodlarks where I urge you to donate HERE

Tom Winnifrith Bearcast: the NY Honours Rewards for business failure & brown nosing, what is Woodford hiding & Darren's bonkers share tips

Published 759 days ago

I still feel like shite and want to go to bed clutching a half full bottle of brandy. Pro tem I look at the disgrace of the New Year's honours lists for business and in general, I tell you exactly what Neil Woodford is hiding and I explain why the share tips of the year from my friend and colleague Darren Atwater are 100% insanity, the product of a mind infected with full blown Brexit derangement syndrome. 

Inspirit – FY18 Results from the boiler room

Published 759 days ago

3.28pm on the Friday between Christmas and New Year is hardly the time to release your results unless they are really bad, and so it proved with AIM-listed Inspirit Energy (INSP). This is a company which, let us not forget, has been developing a revolutionary boiler (where is Neil Woodford?) since it listed via an RTO on the Casino way back in 2013 – after it was rescued from administration. The original company dates from 2010. So how are we doing in 2018?

The ShareProphets share tips of the year 2019 – No 6 is from infamous bear raider Lucian Miers

Published 761 days ago

Between Christmas Day and January 2nd we shall be publishing more than 20 share tips of the year – buys and sells. Sixth up is one from the bard of the Boleyn, Lucian Miers.

Neil Woodford's Twelve Days of Christmas

Published 762 days ago

If you enjoyed Neil Woodford's Christmas carol HERE and HERE and HERE we have a bonus for you. I guess the tune is familiar...

ShareProphets “Bury Bad News” Christmas Eve Competition Result

Published 762 days ago

Well Humbug and Bah Humbug to you all! You all want to know who won the Bury Bad News sweepstake. Needless to say, it wasn’t me! The entries ranged from 7 to 50 bad news RNSs on Christmas Eve, but who won – and what was the worst of RNSs?

Neil Woodford's Christmas Carol - the final chapter of three

Published 764 days ago

‘Twas the night before Christmas.  The man who liked to be known not only for his humility but also for being Britain’s greatest ever fund manager lay back on his disruptive Eve mattress next to his rather flatulent but ever faithful old poodle Dampers. Whilst his companion snored loudly, Neil Woodford was deeply troubled by not just one but a second ghostly apparition that night.

Neil Woodford’s Christmas Carol: Chapter two (of three)

Published 764 days ago

‘Twas the night before Christmas.  Neil Woodford had pushed the apparition claiming to be the ghost of Christmas Past out of the window’s provided by “our locks are as safe as our dividends” Kier and had now bolted them firmly shut.

Woodford Dog RM2 – wins VAT reprieve but no cash impact (so why bother with an RNS?)

Published 764 days ago

AIM-listed and permanently on the edge of insolvency RM2 (RM2) has announced some good news. Well, sort of: the executioner is still booked, but at least the taxman is off its back.

Woodford – did the FCA or the bank prevent him from fully standing his corner with Kier?

Published 764 days ago

A spot of maths and it seems that we were all wrong! In the prospectus for the rights issue by Kier Group (KIE) we were told that Neil Woodford was sitting on 13,797,000 shares, or 14.13%. We were also told that if he took up his rights in full he would hold 22,903,020 shares, or 14.13%. We know that Woodford piled in for more shares after the rights offer was announced. So what did he end up with?

Neil Woodford’s Three Part Christmas Carol: Chapter One

Published 766 days ago

‘Twas the night before Christmas and the man who liked to be known as Britain’s Buffett paced up and down his bedroom, deep in thought. Attending the local carol service at the Church nearest his Country Estate, Neil Woodford felt that he had so much in common with the wise men but like the Shepherds he was this evening of a troubled mind.

Notes from Underground - Thoughts before hurling through the clouds

Published 766 days ago

By the time you read this, I may be whizzing through the air to Vancouver, assuming the authorities are able to keep the airports clear of toy helicopters.

The distressed seller of BCA shares revealed – it is, as I suggested, Neil Woodford

Published 767 days ago

Yesterday I asked which fund manager was just so strapped for cash that he had been forced to sell 13 million BCA Marketplace (BCA) shares at 190p when the stock traded at 205p. I thought it was Neil Woodford. I was, as is almost invariably the case, correct – see HERE. And that makes the questions asked in today’s bonus Bearcast special, end game for Nomates, even more pertinent.

Interserve – don’t panic, keep calm and carry on (to disaster?)

Published 767 days ago

Yesterday we learnt what a complete disaster the rights issue for Keir Group (KIE) was: a whopping discount failed to attract more than 40% of shareholders to pony up at 409p and the underwriters took the hit, offloading at just 360p. But never mind, massively over-indebted Interserve (IRV) announced this morning that good progress is being made on its deleveraging plan, involving a debt-for-equity swap of, I reckon, about £500 million – against its current market capitalisation of just £16 million.

Tom Winnifrith Bonus Bearcast: I'm sure the FCA now in daily contact with Neil Woodford - how close are we to end game?

Published 767 days ago

Happy Christmas Neil Woodford. I am sure that the £7 million you earned last year will be some consolation in what must be trying times. In this bonus podcast I explian why I think the troubles for Woodford are far worse than folks think, what, I believe, the FCA is doing and how close we are to end game. There are two scenarios and both are ugly.

Woodford – a small detail shows what a disaster is going on: are we almost at end game for Neil?

Published 767 days ago

Woodford Patient Capital Trust  (WPCT)or his flagship Equity Income Fund? It is hard to know where to start for we have disastrous news from both today. How close are we to end game for Neil Woodford, a man happy to be described as Britain's Buffett.

HaloSource – shares suspended, a Woodford dog at last looks set to be put down

Published 767 days ago

Previously writing on HaloSource (HAL) I noted Neil Woodford dog’s balance sheet requirements in; surprise, surprise it ain’t looking good!. Now an announcement; “Suspension of trading”. Uh oh…

Tom Winnifrith Bearcast: does the BCA RNS mean Neil Woodford's funds are at death's door

Published 768 days ago

I start with a report back on my torture of last night. Then I look at a day of woe for Neil Woodford, commenting on the Kier (KIE) debacle which has shown him at his arrogant and reckless worst. Then I ask questions about share trades announced late yesterday in BCA marketplace (BCA), I look at Sosandar (SOS), Optibiotix (OPTI), Bluebird Merchant Ventures (BMV), Yu (YU.) and at Avanti Comunications (AVN).

Neil Woodford’s disaster of the day No 3 – Kier Group

Published 768 days ago

Its bailout rights issue closed for acceptances yesterday, Kier Group (KIE) has announced “valid acceptances in respect of 24,276,286 new shares, representing approximately 37.66 per cent. of the total number of new shares to be issued pursuant to the fully underwritten rights issue”. Oh dear! And it gets worse…

Neil Woodford’s disaster of the day No 2 – Midatech Pharma

Published 768 days ago

In this case the turd has been sugared, the pill polished but make no mistake, Midatech Pharma (MTPH) is well in the merde and that is bad news for Britain’s most conceited fund manager Neil Woodford whose funds own 20% of the equity.

Neil Woodford’s disaster of the day No 1 – Netscientific

Published 768 days ago

There were two enormous red flags waving at NetScientific (NSCI), the healthcare IP commercialisation group. The first was the announcement a few weeks ago of a “strategic review” which in plain English means “we are fucked” and the second was that Britain’s worst performing fund manager Neil “Nomates” Woodford owns 47% of the company with the funds he used to manage round at Invesco owning another 19%. And so to today’s disastrous news.

Tom Winnifrith Bearcast - when does forced selling by fund managers become a flood?

Published 770 days ago

I start with the issue of fund managers and redemptions and thus forced selling of shares. Not just Neil Woodford, a special case, but generally. I look at this in the context of what corporate newsflow I expect in January.  I also look at Urals Energy (UEN), Telit (TCM) and the FCA, Andalas (ADL) and UK Oil & Gas (UKOG) answering a point posed by our own in house Bulletin Board loon Wildes HERE.

Tom Winnifrith Bearcast: Are they all stark raving mad?

Published 771 days ago

I start off with news from Woodlarks. Then I ask if shareholders in Frontera (FRR) are all stark raving mad in light of this and question why Alliance News appears complicit in market abuse. Then onto ASOS (ASC), Boohoo(BOO) and Sosandar (SOS). I explain why the three are trading differently and what the shocker from ASOS means for the wider stockmarket. Whole sectors are officially on the bargepole list (although Neil Woodford appears to disagree). 

Notes from Underground - Wash your window and prepare your camera

Published 772 days ago

Get ready for the event most anticipated every year by ShareProphets readers. Of course, I mean the Fifth Annual View from Readers' Windows.

Reneuron – jam tomorrow for Neil Woodford, or just in a jam tomorrow?

Published 774 days ago

AIM-listed Neil Woodford investee Renueron (RENE) posted its interims to the end of September this morning. As with many of Neil Woodford’s investment choices, this is another cash-burning operation but it does have the advantage of some interesting technology. The question, of course, is cash!

Lessons from AA plc

Published 774 days ago

It never ceases to amaze me what Private Equity firms get away with. We are warned constantly that buying from them often ends in tears but, like moths to a light, the investment community cannot resist handing over other people’s money to them at crazy prices. It looks like Uber and Airbnb are lumbering onto the runway. In 2004 private equity firms, CVC Capital, Permira and Charterhouse bought the AA (AA.) from Centrica for £1.75 billion. Ten years later they borrowed vast amounts of money and paid themselves £2.5 billion in “dividends”…

My plan to save Neil Woodford £3.5 million….the Kier clusterfuck gets worse

Published 777 days ago

Well the next disaster set to strike Neil Woodford looks to be Kier Group (KIE) again, for he appears to be caught between a rock and a hard place. We know that the rights issue was announced on 30 November and that Neil was on the hook for around £37 million from that. Yet as the shares crashed on the news, Woody was buying yet more, increasing his stake from 14.12% to 15.4% (15 million shares) by 4 December. But the shares now trade below the rights offer price. Uh-oh!

Tom Winnifrith Bearcast: The Corruption of the Mainstream Financial Press

Published 779 days ago

I start with news of a washing panic at the Greek Hovel. Then I look at why the mainstream financial press are part of the problem not the solution to stockmarket over-promotes and indeed outright criminality. In the podcast I look specifically at The Times on Neil Woodford and at The Sunday Times on Hollywood Bowl (BOWL) and Midas in the Mail on Sunday on the IPO of AJ Bell (AJB)

Woodford – selling BTG but all is surely not clear (apart from the cash-crisis!)

Published 779 days ago

We have commented here on ShareProphets on the recent sales of shares in BTG (BTG) by Neil Woodford’s Woodford Investment Management. Given that BTG is the subject of a cash offer of 840p per share is seems a little odd that he is offloading stock before the offer completes, especially with the shares trading at around  825p – but then, he does have some pressing cash issues of his own. But what is even more odd is his irrevocable undertaking to accept the offer, for it appears to have been given over a rather small portion of the shares he was actually holding.

Notes from Underground - Mainlining it

Published 779 days ago

Last week, ShareProphets member Phil suggested that in the comments that we'd sell more subscriptions if we covered more main market companies.

November performance update: start of 2018 shorted AIM shares

Published 781 days ago

Early this year we showed Shorted AIM shares at the start of 2018. After the latest month, how's performance?...

Neil Woodford: three disasters in three days caption contest - result

Published 781 days ago

A few days ago, I asked you all to come up with suitable captions for a picture of Britain's most conceited fund manager in action, destroying value. as you can see here. There were many half decent entries and also a couple from Wildes who has obviously been drooling over pictures of crazy cat woman Carole Cadwalladr again and thus returned to his favourite subject. However the winner of the semi naked photo of Britain's top share blogger (mornings only), Thirsty Paul Scott is...

Tom Winnifrith Bearcast: is there a massive & growing black hole at Purplebricks?

Published 781 days ago

In today's podcast I look at Purplebricks (PURP), Neil Woodford's cash woes, re BTG (BTG), MySquar (MYSQ), Fishing Republic (BUST), Bushveld Minerals (BMN), who's a naughty boy then Fortune?, Quadrise Fuels (QFI) and at Sound Energy (SOU) which even at 13p is a verry poor risk reward play.

Tom Winnifrith Bearcast: Call me dim or old fashioned but I dont understand the Versarien valuation

Published 782 days ago

I start with a few Greek ramblings, The Iliad and the Greek Hovel, going to a bank, etc. Then I look at the wider stockmarket woes and then onto TrakM8 (TRAK), Versarien (VRS), BlueJay (JAY), FinnCrap (FCAP) and the resigning analyst and finally I have grave questions about the statement made on November 15 by Neil Woodford dog Eve Sleep (EVE). Surely there must be a steward's?

Thursday’s Disaster for Neil Woodford – would you Adam and Eve it?

Published 782 days ago

After spunking millions backing companies wanting to change the laws of physics or disrupt the markets for wooden pallets, washing machines and drinking water a chance to revolutionise the world of mattresses was just too good to pass up on for Neil Woodford. So he backed the May 2017 IPO of Eve Sleep (EVE) at 100p heavily and as the share price sank he added to his holding taking it to 29.05%. Neil always knows better than the market….

November performance update: start of 2018 top shorted London-listed shares

Published 782 days ago

Early this year we showed the ten top shorted London-listed shares at the start of 2018. How's the latest performance?...

Tom Winnifrith: a reader dares me to publish his explanation of why I'm talking bollocks

Published 783 days ago

I wonder if this reader is Malcolm Stacey in disguise? He seems a terribly optimistic fellow dismissing all my bear points made in today's bonus bearcast. Calling himself "KeepingTWhonest" he opines:

Just how desperate for cash is Neil Woodford – another telling announcement: BTG

Published 783 days ago

After recent disasters such as Kier (KIE) and faced with wall to wall redemptions, funds managed by Neil “nomates” Woodford are clearly utterly desperate for cash. Today another sign of just how big is that crisis emerged. It’s a shocker.

Neil Woodford Caption Contest: Three Disasters in three days edition

Published 783 days ago

Of course they are not disasters for uber smug Neil Woodford. He earned £7 million last year. But for those dumb enough to entrust him with their money it has been another bad few days. On Friday it was Kier. Yesterday it was Halosource. Today it was Amo Pharma. So to win a semi naked photo of Britain's top share blogger (mornings only), Thirsty Paul Scott please supply a suitable caption in the comments section for the photo below of the great fund manager creating value. The deadline for entries is midnight Wednesday, 5 December.

Tom Winnifrith Bearcast: Might Chris "Three Brains" Bailey be wrong about Thomas Cook? Are the shares really worth only 12p?

Published 784 days ago

I start with the news about the olive harvest. When you get the full financial report you will laugh. I almost did. I am almost tempted to get Neil Woodford to invest in it. Then I discuss Thomas Cook (TCG), Audioboom (BUST) and Tekmar (TGP), another disastrous IPO on the AIM Casino. I also discuss the battle between the metropolitan elites and the rest of us ref. France, but also the UK and Brexit.

Tuesday’s disaster for Neil Woodford – Amo Pharma accounts out (late) – Woody on the hook for £6m more?

Published 784 days ago

In October 2016 Neil Woodford’s Patient Capital Trust (WPCT) spunked £12.281 million with an investment into unquoted cash guzzler Amo Pharma. Amo has belatedly filed its calendar 2017 accounts and it looks grim. Suffice to say Britain’s most conceited fund manager is the sole institutional backer.

…and Monday’s Woodford disaster story…..Halosource

Published 784 days ago

According to Cynical Bear, Neil Woodford’s Woodford Investment Management once held 24.9% of Halosource (HAL), when the shares were around 3.63p - and Invesco Perpetual (Woodford’s former stamping ground) held a further c.19%. Of course, failure after failure and emergency bailout placing after emergency bailout placing will have taken their toll. But even back in August Woodford held 27.3% (having bailed it out yet again). Now the company has warned that it is having a spot of bother raising cash – and that no cash by the end of December will mean a trip to the corporate undertakers. So Neil isn’t up for bailing it out this time?

Tomco Energy - in the land of the blind...

Published 785 days ago

The real issue with Tomco (TOM) is that it will be out of cash within three months. another issue is that no-one really trusts it. Oh.. and its assets are shite. Other than that it looks like a great company. Today it tried to puff the share price ahead of an inevitable placing as discussed in bearcast HERE. The City's No 1 oil analyst Zac "the knife" Phillips of SP Angel is damning. The great man writes...

Tom Winnifrith bearcast: Spooooooooooooooooooof from Audioboom, is a Woodford dog on death row & Gabriel Grego's new mega short dossier

Published 785 days ago

Gabriel's dossier should appear here 2.15 PM London time. It is explosive. In today's podcast I discuss Telit (TCM) and shamed FinnCrap, Halosource (HAL) and hapless Neil Woodford, Audioboom (BOOM) and a backfiring spoof, Tomco (TCM), Yourgene (YGEN) and the weather here in Greece as the olive harvest draws to a close.

Notes from Underground - Giving the gift of ShareProphets

Published 786 days ago

Something that we have been thinking about here in the underground Shareprophets bunker is gift subscriptions. We can't process these yet but we could. The question to you is: should we?

Tom Winnifrith Bearcast: My olive harvester ShareProphets reader Bernard has two shameful confessions

Published 787 days ago

I start with a few words about the harvest. The team of three worked until it was dark. Then I reveal Bernard's shameful confessions. Then more on the folly of Neil Woodford and lessons from Kier. Neil is yet to get back to me about my business proposition from yesterday. Come on old boy £2 million for 20%, what's not to like?

Dividend Munchers – November update: beating Neil!

Published 787 days ago

My small portfolio of high dividend payers took a couple of interesting turns last month. On the plus side, Vodafone (VOD) put in quite a recovery to close at 168p – quite a rise from the low point of 143p just a couple of weeks back. On the downside, Centrica (CNA) dropped on a trading update which showed continued loss of customers and projected earnings below the level of the dividend. Hmmm.

Keir-Blimey! Woodford raising more much-needed cash by dumping good shares

Published 787 days ago

We all know that markets have been a bit skittish recently, which will mean that investors will be looking to sell unit trust holdings. And we know that Neil Woodford has faced the double whammy of redemptions and his cash-hungry dogs which need feeding. And on Friday morning Kier group (KIE) announced a rights issue: it never rains….

Tom Winnifrith Bearcast: I have a fecking brilliant idea for Neil Woodford all I need is £3m and I've bought some shares

Published 788 days ago

Forgive the lack of copy on ShareProphets today and the tardy bearcast. All is explained. I look at Woodford's latest disaster, Kier (KIE) but have a corking business proposition for Neil. It just cannot fail, all I am seeking is £3 million for 20%. And I have bought shares in a company on AIM. You will think I am bonkers but let me explain why I have made a material investment.

Xeros Technology – Cynical Bear was right about this Neil Woodford Dog!

Published 791 days ago

Another day, another Woodford disaster story hits the headlines – this time in the form of AIM-listed Xeros Technology (XSG), which Cynical Bear had postulated would be this year’s RM2 disaster. Well, it’s run out of money again and guess who’s footing the bill (with other people’s money)?

Tom Winnifrith Bearcast: RM2, I almost feel sorry for Neil Woodford

Published 792 days ago

Okay, he is a conceited, overpaid, arrogant mother so I don't really feel sorry for him but I explain his appalling problem at doomed RM2 (RM2). I also look at Inspirit (INSP), Sabien (SNT) and Tomco (TOM) all three of which should be taken out and shot as their sole purpose on the AIM Casino is as a funder for the coke and hookers used by crony capitalists in the City. I explain a flaw (or two) in Malcolm's thesis today as I look at three retailers in trouble: Marks & Spencer (MKS), Debenhams (DEB) and Mothercare (MTC).

Immunocore: surprise, surprise –call me Mystic Meg…..

Published 793 days ago

And so having seen the announcement that Immunocore had signed a deal with deal with Genetech worth $100 million, having reported the good news for Neil Woodford who could breathe a sigh of relief that he could keep his  wallet (full of other people’s money) I commented Still, I’m sure the $100 million will come in useful – might we now see publication of Immunocore’s FY17 results at Companies House? After all, it should have got its results in for FY17 by the end of September. One has to wonder whether the cash will be needed to get a Going Concern all-clear from the auditor

RM2 – All hail Cynical Bear as Woodford bails it out yet again (until April)

Published 793 days ago

On Friday afternoon, as the city returned from lunch ready to wrap up for the weekend, AIM-listed RM2 (RM2) announced a share capital restructuring, placing and notice of EGM. Roll back the clock to 14 September when, in the wake of yet another set of dire results, Cynical Bear told us  it’s time to place your bets as to whether Mr Woodford is going to throw another $17 million in to the pot. Suffice to say he is now Cynical Mystic Meg…..

Purplebricks – purple faces at Woodford

Published 793 days ago

ShareProphets has been very wary of AIM-listed Purplebricks (PURP) ever since its IPO at the end of 2015. The business model looks questionable, given the state of the UK and global housing markets, and there has been plenty of controversy over its business practices of suppressing criticism. Add to that the persistent offloading of stock by insiders and one really wonders how well this disruptor will perform. But Neil Woodford has been buying like the shares are going out of fashion…which they are!

Immunocore announces good news - Neil Woodford can breathe a sigh of relief, for now

Published 798 days ago

Privately held Immunocore, which forms part of the Neil Woodford estate, has announced some good news: it has signed a deal with Genetech, part of Roche Group, for the development of Immunocore’s IMC-C103C drug aimed at targeting the MAGE-A4 protein (Melanoma-Associated Antigen A4). The really good news is that Genetech is to hand over $100 million in upfront and near-term milestone payments, and upon establishing proof-of-concept there is an option to co-develop the treatment or license the treatment to Genetech for royalty and milestone payments. Needless to say, Woodford Patient Capital Trust (WPCT) rushed out a statement too...

Notes from Underground: It's not often we say it's better to be more like the Guardian than The Scotsman

Published 800 days ago

Some meta thoughts here. This week, the Guardian reached one million paid readers and claims it is months away from break even. Crowdfunded Dutch media outfit De Correspondent has moved into the US market and is on target to raise $2.5 million. Meanwhile, dead tree news provided Johnston Press has been given over to its debtors.

Woodford’s dog days continue – no Sleep this Eve!

Published 803 days ago

I always thought that mattresses were all about getting a good night’s sleep. Thank goodness I didn’t follow Neil Woodford into (now) AIM-listed Eve Sleep, paying up to 150p a share for 30% of the business and now facing another cash call with the shares down at just 15p!

Tom Winnifrith Bearcast - 5 resignations and counting, is wretched Mrs May toast?

Published 803 days ago

In today's bearcast I clarify why I believe Mrs May's Brexit deal sucks and should be binned. But what happens next? I outline a few possibilities but admit I have not got a scoobie. I then look at Neil Woodford dog Eve Sleep (EVE) and again at UK Oil & Gas (UKOG) after today's disastrous news.

Tom Winnifrith Bearcast: the time of year when my hatred of Amazon mounts

Published 805 days ago

I explain why I am cursing Amazon almost daily. I look at redemptions and fund managers a problem lurking under the surface but also how do private investors react to stocks going to zero or doing an IQE (IQE). I look at worrying data from China and then at Utilitywire (UTW) - another Neil Woodford car crash - and at Interserve (IRV). Ouzo for Nigel Somerville soon I sense.

Tom Winnifrith Bearcast - the changing meaning of the word "refute" in the English language

Published 806 days ago

In today's podcast I look at Babcock (BAB), which is not a fraud, and the fraud Globo (GBO) and the use of the word "refute". I also cover Johnston Press (JPR), RM2 (RM2) - another Neil Woodford dog - Haydale (HAYD) which looks increasing;y like a zero, Online Blockchain (OBC) and Amur Minerals (AMC)

Tom Winnifrith Bearcast: What are the incriminating photos of Daily Mail journalists that Neil Woodford owns?

Published 807 days ago

You could not make it up. Another week. Another Neil Woodford share support operation in the Mail on Sunday. I look at Woodford and wider issues he faces at The Times and Sunday Times and their shameful role in the MySquar (MYSQ) fraud and at Purplebricks (PURP) and the fundamental weakness in its business proposition that will ultimately sink it.

Notes from Underground: Why not Quindell 2.0 if no one cares about MySquar

Published 807 days ago

Once again, I stand awed that great work by ShareProphets on identifying bad eggs is largely ignored by the mainstream media, in this case MySquar.  It's no wonder that Rob Terry has the new to saddle up with Quindell 2.0.

Thin Film Electronics – yet another disaster for Neil Woodford as he is asked to get his wallet out

Published 808 days ago

Well, here we are again – another Woodford Unicorn has reported, this time Nowegian-listed Thin Film Electronics (OB:THIN)  with its 2018 Q3 numbers, and yet another hungry mouth to feed needs feeding, with little in the way of revenue to offer any comfort. The report starts well, but….

Tom Winnifrith Bearcast: Je parle le Franglais avec les Grenouilles!

Published 809 days ago

In today's podcast I look again at yellow journalism re Woodford Patient Capital Trust (WPCT) as covered HERE and the MySquar (MYSQ) fraud. The corrupt deadwood press is part of the problem not the solution. I cover the latest news from MySquar in case I don't have time for a dedicated article. Today is a Joshua day but I hope to write as he takes a nap. I  also look at Mirriad (MIRI), Mosman Oil & Gas (MSMN) anmd Haydale Graphene (HAYD) whose news today means that Nigel Somerville will have enjoyed ouzo on his breakflast cornflakes.

Woodford Patient Capital lasts just 11 days in FTSE 250 – PR campaign neutered after feck up

Published 809 days ago

The PR machine of Neil Woodford got its pliant servants at the Daily Mail and elsewhere in the corrupt deadwood press to make great play about how the Woodford Patient Capital Trust (WPCT) was about to go into the FTSE 250 Index so meaning that Index funds would have to buy the shares so the share price would go up. Uh Oh! Late last night came an announcement from the LSE:

Keep selling Purplebricks - trading statement truly pathetic in what it did not say

Published 809 days ago

The trading statement from Purplebricks (PURP), as I rather suspected, was a little short on detail and the word “profit” did not appear once...

Uh Oh….more bad news for Neil Woodford as Idex releases Q3 numbers

Published 810 days ago

We have news this morning of Q3 numbers from Norwegian biometrics play Idex (OSE:IDEX). No doubt Neil Woodford’s team will extoll the virtues of the progress being made here, but I can’t help myself: look at the cash position!

Exclusive: Neil Woodford's Unicorn-hunter's graveyard found

Published 811 days ago

Some of you may remember Cynical Bear’s amusement at the operational highlight reported by Woodford Patient Capital Trust in its April results statement:

  “UNICORN HUNTERS: The Company is invested in four companies valued at more than $1 billion – Purplebricks, Oxford Nanopore, Benevolent AI and Immunocore.”

Cynical went on: WPCT used to have many more unicorns in the portfolio, Prothena and Theravance Biopharma to mention two very recent ones. I like to imagine that Neil Woodford is literally hunting them down, investing in them and then shooting them dead from point-blank range. Well, I have news: ShareProphets can exclusively reveal Woodford’s Unicorn Graveyard….

Purplebricks – half-year trading update, sensible yet again to be doing the opposite of Woodford

Published 812 days ago

A trading update for its half-year ended 31st October 2018 from Purplebricks (PURP) is noticeable for what it fails to say not for what it actually says...

The Daily Mail repeats the Neil Woodford lie as it tries to save him yet again

Published 812 days ago

Over the past two years one salient feature of the Neil Woodford car crash is that every couple of months the Daily Mail or Mail on Sunday, which were the biggest cheer-leaders for Nomates when he set up Woodford Investment Management, runs an article saying “it’s bad but will get better, average down.” The trouble is that the Mail thesis is based on one big lie.  At the weekend it was veteran Personal Finance hack Jeff Prestridge who landed an exclusive interview, i.e a blow job for Neil.

After the MySquar triumph: Still not signed up to quality investigative fraud busting journalism at 2p a pop. Why not?

Published 813 days ago

Just over a year ago ShareProphets went from an advertising model (i.e. letting evil Google bleed us dry) to a subscription based one. That means we can write what we want and thanks to well over a thousand of you, our revenues have gone up and we did, actually, make a tiny, debut, profit last month. Hooray! But perhaps you are reading this article sitting outside all walls and have not signed up for full access at just £5.99 a month HERE. Just think what you are missing…

Neil Woodford - where, oh where are the Immunocore accounts for FY17?

Published 814 days ago

Woodford Patient Capital Trust (WPCT) held, as at 30 September, 4.95% of its gross funds in unlisted healthcare stock Immumocore. I say gross funds because WPCT has taken on rather a lot of debt over the last while – presumably because Woodford ran out of cash and still had too many hungry mouths to feed. If the entire portfolio goes a load higher then of course being leveraged is a good thing. Unfortunately, it is a bad thing if the portfolio keeps of falling in value.

Notes from Underground: Chris Bailey is #1 three weeks in a row (misleading headline)

Published 814 days ago

What are your Sunday rituals? The most reliable one of mine is a phone call from Tom demanding to know where this column is.

October performance update: start of 2018 top shorted London-listed shares

Published 817 days ago

Early this year we showed the ten top shorted London-listed shares at the start of 2018. How's the latest performance?...

Tom Winnifrith Bearcast: happy Hop-tu-naa, my No 1 tip for dealing with Trick or Treaters

Published 818 days ago

Happy Hop-tu-naa to any listeners in the Isle of Man, and happy Halloweebn to the rest of you. I start the podcast with a handy tip on dealing with the Trick or Treat menace. This afternoon I head off with Joshua to deal with the bastards at Barclays (see yesterday's bearcast) and I will report back on that tomorrow. I look at Crawshaw (CRAW), I3 Energy (I3E) doing a Cathy Newman, at Photonstar Led (PSL)) which is toast, Online Blockchain (OBC), at FastJet (FJET), lessons for Neil Woodford from GYG (GYG) and elsewhere and why Thirsty Paul Scott and others should keep December 3 free.

GYG – the Woodford reverse Midas touch strikes again: banks must be shitting themselves

Published 818 days ago

Oh dear. When Neil Woodford spunked £8 million of other folks cash into the July 2017 100p a pop AIM casino IPO of yacht refitting company GYG (GYG) he thought this would be plain sailing. Oh no. Au contraire. The reverse Midas touch has struck Britain’s most arrogant fund mis-manager withy the second (lack of) profits warning in two months. Now I suggest the banks must be shitting themselves, the shares are 42.5p, sinking like the Titanic, as friendless as the Marie Celeste, and things are only going to get worse.

Notes from Underground - Is it an opportunity or a retreat?

Published 821 days ago

Looking at the leaderboard this week, I find it interesting - after a few days of plummeting share prices - that the most read articles are on prosaic things: clothing, hotels, real estate, and minerals.

HaloSource – Neil Woodford dog’s balance sheet requirements in; surprise, surprise it ain’t looking good!

Published 822 days ago

Early this month on HaloSource (HAL), I wrote emphasises “significant milestone”. Er, how’s this Woodford dog’s balance sheet? - concluding it looks prudent to currently be especially wary of apparently ‘good news’ here. Now a “Trading Update”…

Tom Winnifrith Bearcast - is Neil Woodford too big to fail? No! Watch this space

Published 822 days ago

In light of Cynical's piece earlier this week I discuss what happens next to Neil Woodford and his funds and it is not good. Of course some of us - not the useless FT - predicted it all a long while back as you can see in this excellent video from UK Investor show 2018 here

The Purplebricks bubble is starting to burst - keep selling

Published 822 days ago

It could be that the current market turbulence is no more than an entry point for easily the most successful investment strategy of the last ten years: BTFD (Buy the fucking dips) but I sense that this time we might be about to discover who has been swimming without trunks.

Woodford Patient Capital Trust: The Big Short (September update) – The FT finally picks up on the impending Neil Woodford implosion

Published 823 days ago

Slightly belated update on the end-September portfolio listings this month but the ‘good’ news is that I am no longer fighting this battle alone and a small, parochial rag called The Financial Times has started to pick up on the issues, although they don’t get all the story, natch!

Tom Winnifrith Bearcast: Does Feedback have incriminating photos of Malcolm Stacey dancing naked round the Magic Money Tree?

Published 824 days ago

In today's podcast I look at Purplebricks (PURP) and whether Neil Woodford is going nutso, Tesla (TSLA), RPS Group (RPS), Debenhams (DEB) and Feedback (FDBK)

Purplebricks & Neil Woodford– good to see a man of conviction

Published 826 days ago

I noted the other day that Neil Woodford seems to have been on a bit of a selling spree, having dumped shares in our Big Short BCA Marketplace (BCA) and more recently in Hostelworld (HSW), Forterra (FORT), Horizon Discovery (HZD) and Homeserve (HSV). But I see that the great man has been topping up his holding in Purplebricks (PURP).

Is Neil Woodford running short of cash?

Published 832 days ago

Having noted that Neil Woodford has been dumping shares in our Big Short BCA Marketplace (BCA), I see that the sell-off appears to be rather more widespread. One wonders if Tom Winnifrith’s comments that after a market crash investors tend to sell up is coming true already, or is there another explanation?

Five large cap stocks I would buy now for capital growth despite market volatility

Published 835 days ago

Well what a last week with fear - for once in recent years - in ascendancy and lots of 'worst week since February' statistics being quoted.  As Tom Winnifrith noted in a recent bearcast the big honking issue is debt around the world, although tactically you can throw in a supporting cast of world trade angst, a bit of inflation bubbling up and a firm US dollar.  

Tom Winnifrith Bearcast - Will RM2 be the first Woodford dog allowed to die and why Patisserie is so different from Conviviality

Published 836 days ago

In today's podcast I start with a brief but of macro babble then look at RM2 (RM2) specifiocally but  also at the wider Neil Woodford stable* of dogs. Then I discuss whether I'd buy into Patisserie Holdings (CAKE) at 50p. It is certainly not the same as Conviviality (CVR) which Thirsty Paul Scott bet heavily on the day before it went bust. There are similarities but 1 big difference.

Tom Winnifrith Bearcast: on the Anniversary of the Brighton bombing & other murders by Jeremy Corbyn's Sinn Fein/IRA pals

Published 837 days ago

Forgive a brief historic digression at the start of this podcast but I start with a history lesson for those misguided souls who think that SinnFein/IRA brought peace and happiness to Ireland. Then I look at some other tossers from Ulster, First Derivatives (FDP) and the 3Xs. I comment briefly on Purplebricks (PURP) and Versarien (VRS) then move via BCA Marketplace (BCA) to Neil Woodford. Then it is onto MySquar (MYSQ), Symphony Environmental (SYM) and on to UK Oil & Gas (UKOG) with a few words for Dominic Frisby on the nature of bitcoin and its bubble ahead of our bust up next week in London.

Woodford – where are the Immunocore accounts for FY17? Is a perfect storm almost upon us?

Published 838 days ago

Accounts for private companies such as Immunocore Limited are supposed to be filed at Companies House within nine months and thus, at October 11 2018 I wonder where the accounts for FY17 are for billion dollar unicorn Immunocore. I note on the Woodford Investment website that as at 31 August 2018 this investment accounted for 5.33% of WPCT and 0.75% of the Woodford Equity Income Fund (although I can’t see any income here!) And Woodford’s exposure here isn’t limited to just that, because the Dublin-based Malin Corporation (of which Woodford is the largest shareholder) is also on the shareholder register.

Share Centre “Backs” Woodford despite Brexit - gosh, I must be stupid

Published 844 days ago

Well, maybe I am. Or maybe just misinformed, or I just don’t understand. I see that there has been a bit of bulletin board excitement over reports that the Share Centre is backing Woodford – in particular his Patient Capital Trust – “despite Brexit” but the logic seems to my simple mind a bit wayward.

HaloSource – emphasises “significant milestone”. Er, how’s this Woodford dog’s balance sheet?

Published 846 days ago

HaloSource (HALO) has emphasised “a significant milestone for the company, as it has officially received notification of certification from the Water Quality Association for its patent-pending technology and innovative astrea ONE filtering water bottle” - and the shares are currently more than 11% higher at 1p. Hmmm…

Notes from Underground: The hell with it, subscribe to a completely different newsletter

Published 856 days ago

Tom and I do not agree on Brexit on any level, but I do like this assessement from him:

The Seven Mythical Wonders (September update) – My final review of this collection of ‘never-quite-getting-there’ companies

Published 857 days ago

This series has gone on long enough so I’m bringing it to close this month with the biggest news relating to the ongoing moving of the goalposts at Kibo Energy (KIBO) which makes one wonder whether the flagship project in Tanzania is ever going to see the light of day.

Woodford Patient Capital Trust and Industrial Heat – this hilarity has made my day

Published 858 days ago

Just when you don’t think that the goings-on at Woodford Patient Capital Trust (WPCT) can get any more surprising, an RNS comes out of nowhere to make everything right in the world, relating to the unloved holding Industrial Heat. It seems that Neil Woodford can bend the laws of physics after all!

WPCT Interims: Some good news but a few questions

Published 859 days ago

Following my piece this morning on Woodford (HERE), I note that Woodford Patient Capital Trust (WPCT) published its interims at the rather odd time of 9.45am today which ruins my competition to some extent. Anyway, there is some good news in there that I am happy to report but it still begs a few questions that I am also happy to ask in my general nit-picking way.

Woodford Patient Capital Trust: The Big Short (August update) – Neil Woodford needs a break….and fast

Published 859 days ago

With the end-August portfolio listings coming out yesterday, it is time to update the story and it is not looking any rosier. In fact, quite the reverse. I think matters may be coming to a head here and I reckon Woodford needs a lucky break for once and pretty damn quickly.

RM2 – Wins "Significant" Contract er... whatever it is still 5 minutes from bankruptcy

Published 861 days ago

Shares in Neil Woodford uber dog RM2 (RM2) are up by 59% at 0.875p. That means that the market cap has jumped by £14.4 million to £38.8 million on the back of a contract win termed “significant” but which clearly is not and does not change the fact that this company is five minutes away from midnight, that is to say bankruptcy. It’s got to be placing ahoy.

Notes from Underground: Oil's well that ends well

Published 863 days ago

It was a few days in the old country this week. Bundled up in layers, running the heater at night even thought it is still Summer, code switching from London English to a completely different way of speaking. No, I wasn't back in Canada, I was in Scotland.

RM2 International: Interims as bad as expected, I reckon Woodford is tempted…

Published 865 days ago

Following the poor trading update last week from RM2 International (RM2) that I covered HERE, its interims were issued this morning and are largely as expected but still worth a quick look and it’s time to place your bets as to whether Mr Woodford is going to throw another $17 million in to the pot.

Tern – more cash to bottomless pit Device Authority

Published 865 days ago

AIM-listed jam-tomorrow investment company Tern (TERN) has announced, as predicted HERE, yet another loan to its principal investee company, Device Authority (DA) – this time for $525,000 (around £400,000) which, we are told, is repayable on 31 December 2018 or convertible into shares if DA ever gets a fundraising away.

Xeros Technology Group: More cash please, Mr Woodford

Published 866 days ago

Nice of Tom to set me up for this one today with his preview yesterday (HERE) and, to no-one’s surprise whatsoever, Xeros Technology Group (XSG) published its interims this morning showing continued significant cash-burn and a need for another chunk of dosh from Mr Neil Woodford and his pals.

Xeros Results tomorrow – share price tells you that this Woodford dog is almost out of cash ( again)

Published 867 days ago

No doubt Cynical Bear who has called Xeros Technology (XSG) superbly, as a sell, will be a smug fellow tomorrow as this Neil Woodford Dog announces its interim results. The share price action is telling you that folks already know the worst – shareholders have to bail it out again or it will be going down well before the Christmas decorations go up.

WPCT and BenevolentAI – The spoof continues with results out showing, um, very little

Published 870 days ago

To emphasise the point about the contrasting investment strategies of Neil Woodford and Terry Smith that I covered earlier today, I thought it appropriate to cover the health-tech AI spoof, BenevolentAI, that has just filed its results for the year to 31 December 2017 at Companies House (HERE). I am still struggling to find any evidence of anything other than a reasonably good concept here.....and it’s meant to be worth $2 billion!

Neil Woodford vs Terry Smith: Compare and contrast – you decide

Published 870 days ago

It is hard not to compare these two behemoths of the UK fund management industry. Neil Woodford has (still) a great long-term track record but the recent respective performances of their flagship funds are chalk and cheese and now Terry Smith is looking to encroach on Woodford’s territory further with a small company investment trust too.

RM2 International: A dreadful trading update – what a shock!

Published 872 days ago

Woodford’s month from hell has got off to a strong start with an immediate dog’s dinner of a revenue/profit warning from uber-dog RM2 International (RM2) this morning. Let’s take a closer look and count up all the negatives.

WPCT: This is going to be a difficult month for Neil Woodford – let’s play I-Spy

Published 874 days ago

I smiled at yesterday’s announcement from Woodford Patient Capital Trust (WPCT) summarising the “summer of milestones” achieved across the portfolio as I imagine that is just buttering up the audience before the bevy of bad news hits. From my point of view, September is going to be a hellish month for Mr Woodford so welcome to ‘I-Spy Woodford’s September Hell’

Arcontech - I quite like the look of this one

Published 880 days ago

A wise reader recently suggested to me that perhaps I could pause occasionally with the incessant cynical kicking of the dross at the bottom of AIM and/or Mr Woodford and spend a bit more time trying to highlight quality small cap stocks that people could put on their watch-lists. Well, I’ll take up the challenge and start with a decent looking stock that announced its full-year results last week, namely Arcontech (ARC).

HaloSource – “significantly below” trading warning & more bailout funds needed; step forward you know who…

Published 888 days ago

Writing last month on HaloSource (HALO), I suggested to be wary of ‘pleasing’ news here as a next bailout fundraising looked necessary in the near-term. Yesterday, at an attempted no-one watching o’clock (6:09pm), an announcement; “Fundraise and Change of Adviser”…

Woodford Patient Capital Trust: The Big Short (July update) – Is the Equity Income Fund bending the rules again?

Published 888 days ago

There is good news for Woodford Patient Capital Trust (WPCT) in the end-July portfolio listings that came out yesterday, ironically due to a bit of help from the Woodford’s flagship fund, the Equity Income Fund. More interestingly, I think I have finally worked out how the Equity Income Fund is getting round its 10% unquoted stock limits which makes shocking reading if correct.

Sensyne Health: A great IPO for Woodford but is it a Purplebricks or RM2 International from here?

Published 891 days ago

Turning to my third, and the most recent, quoted constituent of Woodford Patient Capital Trust (WPCT) this weekend, I thought I should give a warm welcome to Sensyne Health (SENS) that joined AIM on Friday at a very nice valuation indeed. It’s good to see that the words ‘healthtech’ and ‘AI’ are able to suck in as much dumb money from the markets these days as the word ‘blockchain’!

Thin Film Electronics: A classic Woodford cash-burner, probably his best!

Published 891 days ago

Continuing my leisurely weekend stroll through the cash-guzzling listed stocks in Woodford Patient Capital Trust (WPCT), I’ll look at his second Norwegian dog, Thin Film Electronics, as its half year results came out yesterday.

Idex: Worst quarter in a decade – guess how much it’s worth?

Published 892 days ago

Neil Woodford doesn’t have many quoted stocks in Woodford Patient Capital Trust (WPCT) but I thought I’d look at three classic picks this weekend, two of which I’ve touched on before, the third being a brand new entrant. I’ll start by catching up with the two Norwegian quoted companies in the portfolio – first up, Idex.

Allied Minds - what's the real reason behind the results delay?

Published 897 days ago

Allied Minds (ALM) was due to release its interims at the end of this week but put out a rather strange statement this morning delaying it until the end of September. I thought it would be helpful to offer up an explanation as the situation is more complex and worrisome that this morning’s five-line announcement might indicate.

Atom Bank: Is this the worst stock in Woodford’s portfolio?

Published 905 days ago

I appreciate that the heading seems like a bold claim with such stiff competition but with Atom Bank putting out its results or the year to 31 March 2018 this week, I do think it is a serious contender.

FastForward Innovations – Oh dear, Jim Mellon and Lorne Abony have been taking lessons from Mr Woodford!

Published 905 days ago

Tom covered much of the nonsense surrounding the FastForward Innovations’ (FFWD) placing last week (HERE) but I wanted to look at how Jim Mellon and Lorne Abony got themselves into that particular mess as they seem to have taken a couple of plays straight out of “star fund manager” Neil Woodford’s book.

IP Group - surely the shares are a sell...

Published 909 days ago

The Communications Director for IP Group (IPO) is a former workmate and all round superstar Ms Liz Vaughan Adams, aka Lizard. So Lizard,  I'm sorry to be writing this but I picked this up on the broker wires this morning and I cannot disagree with this sell/go short thesis.  

Tom Winnifrith Bearcast - get your wallet out to see Brokerman Dan in his undies and...Vin is back!

Published 915 days ago

Thank you, thank you. we have reached our £20,000 target for Woodlarks. In fact Luke Johnson has just pledged £1,000 so we are now well over £21,000 but if we reach £25,000 Brokerman Dan will undress for you. More on that in the podcast but please donate, if you have not already, HERE. Elsewhere I look at Facebook (FB) and Robber Barons of the nineteenth century, at Imaginatik (IMTK) and Vin Murria, the Queen of Tech, at Range Resources (RRL) and at RM2 (RM") a Neil Woodford dog where I reckon cash is already looking tight, again!

Woodford Patient Capital Trust: The Big Short (June update - WPCT) – Um, Neil, what do we do now?

Published 917 days ago

Having looked at Woodford’s Equity Income Fund earlier, I will now turn to Woodford Patient Capital Trust (WPCT) which as ever, even though the goalposts keep moving, is up against its limits and with the portfolio remaining awash with cash guzzlers, I’m struggling to understand how Neil Woodford gets out of the mess.

Woodford Patient Capital Trust: The Big Short (June update - Equity Income Fund) – Legal & General jettisoned in bid to keep hot air balloon afloat

Published 917 days ago

With the end-June portfolio listings coming out yesterday, I thought I would update with a couple of pieces looking at each of the two major funds. First up, I’ll look at the flagship fund, the Equity Income Fund, where continuing redemptions necessitate exiting one of the better stocks completely leaving a greater proportion of dross behind.

HaloSource – Woodford dog barks ‘pleasing initial orders’, but how’s the balance sheet? (AGAIN!)

Published 923 days ago

HaloSource (HALO) “is pleased to announce that it has received initial orders for its new astrea ONE lead filtering bottle from its first retail customer in the US”. Hmmm, promising or ramptastic?...

Oh dear, why is everyone leaving Woodford’s Immunocore? Has the “unicorn hunter” struck again?

Published 923 days ago

I’ve touched on Immunocore a few times in passing as it one of the largest holdings in Woodford Patient Capital Trust (WPCT) as well as being the largest investment made by Dublin-listed Malin Corporation, of which Woodford is the largest shareholder, obvs! Well, it looks like it’s not a particularly happy ship and I wonder whether a (further) devaluation is required?

GYG – The Woodford kiss of death must have the banks worried here

Published 928 days ago

I Thought I would follow up on both Steve’s piece and Tom’s Bearcast on yesterday’s debacle at GYG (GYG) as I was disappointed that both my colleagues failed to make the obvious Woodford connection but, more importantly, I wonder if the banks will be taking a close look at this as the 30 June banking covenants must be a tad challenging.

Itaconix and Hvivo – All very cosy but……WHAT”S THE POINT?

Published 928 days ago

Just following up on Steve’s piece on Itaconix yesterday (HERE) with a couple of further observations relating to some interesting interactions between Woodford and its partner-in-crime in many of these early stage biotech / tech plays, IP Group, (IPO), but more importantly to ponder why on earth either of them are bothering.

Itaconix – Woodford pick which states it is “a world leader… with break-through economics”, so why the proposed fundraising?

Published 929 days ago

Previously writing on Woodford dog Itaconix (ITX), it was Q1 trading update, ‘More cash please, Neil’ indeed!. Subsequently, the shares have been suspended due to “as a result of the requirement for further funding, the company will not be in a position to publish its annual audited accounts for the year ended 31 December 2017 by 30 June 2018, as required by AIM”. Today results and “Proposed Fundraising” announcements…

Dividend Munchers list: great stuff from ITV, some trimming and a new entrant.

Published 933 days ago

My little portfolio of big dividend payers seems to be doing quite nicely. Hurrah! It seems that all three are up, and the first tasty dividend has arrived. But I want to trim some holdings and buy a new share.

Stobart: Outcome never in doubt as Woodford and Tinkler are left licking their wounds

Published 933 days ago

Further to my “Exclusive” on Friday in which I predicted the outcome of the Stobart (STOB) Boardroom battle, the results finally came out yesterday more than 24 hours after the AGM began confirming that Tinkler and his gang had lost; however, it is worth considering what happens next as I doubt very much that this is the end of it.

Notes from Underground: Who do you trust?

Published 933 days ago

This week, I just wanted to run a little poll of which news outlets that you find most trustworthy. Not for City news: that'd be Shareprophets vs everyone else. But from which news websites do you trust their news stories?

In praise of Neil Woodford, master tactician – did Gareth Southgate pick up a tip?

Published 935 days ago

I had a quiet chortle to myself as I read Cynical Bear’s reading of his crystal ball with regard to the Stobart (STOB) vote, where he thinks Tinkler and Woodford have lost. Probably. But I wonder if the real winner will in fact be Neil Woodford the loser – and I wonder if he has been giving Gareth Southgate tips on managing his way through the World Cup. Gosh, this is devilishly clever…..

EXCLUSIVE: Woodford and Tinkler lose bitter Boardroom battle at Stobart……..probably

Published 935 days ago

With the hilarious Boardroom tussle at Stobart coming to its initial conclusion in Guernsey at 11am this morning, I’m calling it early. Just like Paddy Power has probably started out paying early on Brazil to win the World Cup, I reckon the incumbent Board have just edged this one and Tinkler will be weeping at his luxurious Cumbrian estate this evening.

Purplebricks – the only reason the shares have not completely crashed is it is hard to borrow stock

Published 936 days ago

If Neil Woodford wants to make a few friends, as I sense right now he has none at all, he should put his stock in Purplebricks (PURP) up for borrow. Then at least the bears would like him. Because right now there is almost no borrow and the cost of shorting this company is c25% per annum which is a real deterrent. If there was some borrow these shares would halve at once after today’s shockingly bad results.

Utilitywise – a “Strategy Update” only David Brent & major shareholder Neil Woodford are clever enough to understand?

Published 936 days ago

“Evolving the proposition channel strategy”, “differentiated segment and channel propositions”, “technology-led efficiency proposition, adopting a more consultative sales approach”, “invest in the development of a multi-channel ‘go to market’ strategy”. Welcome to a “Strategy Update” announcement from Utilitywise (UTW). Who’s swallowed the dictionary of management bullshit?...

Would you Adam & Eve it – today’s nightmare for Neil Woodford

Published 939 days ago

As it happens I am in the process of buying a number of new mattresses for the house I have rebuilt in Greece. And it seems a remarkably simple process buying what is a commodity product. When my friend Nigel Wray says his mattress company Simba is revolutionising the market I cough and change the subject. But he is not the only one who thinks that mattresses need “disrupting”.  Natch, Neil Woodford, the UK's most conceited fund manager, also thinks that, like washing machines mattresses, are ripe for a revolution.  He owns just under 30% of Eve Sleep (EVE) shares of which are now in free fall.

SHOCKER! AIM roll-call of results not published & suspension shame

Published 939 days ago

Noticeable in today's RNSs at 07:30 was a long-list of suspensions from AIM. These are for - despite having had six months - the companies not having published a report and accounts for 2017. Natch, good companies don't have this problem - the roll-call of results non-publication company (and their advisers) shame is...

Notes from Underground: Celebrate legal pot stocks

Published 940 days ago

I'm certain that all of you have today risen your morning tea in a toast to my homeland, Canada, on its 151st anniversary of existance.

Filthy forty Origo – reveals a true horror story. Ouzo? No thanks, I want the sick bucket

Published 941 days ago

I warned on Thursday that if you are still holding, one might be tempted to compare the benefits of that versus a bag of crisps. Following a flow of dire news, on Friday ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued the most damning statements in its FY17 accounts, and the shares crashed by a horrifying 64%. It is truly horrifying. Step forward the investment adviser Origo Advisers (which more-or-less doubled as the company’s previous management), take a very special bow, please, Auditor BDO in Hong Kong. Take a turn, please, former Nomad Smith & Williamson. Normally at times like this I would be reaching for some of Tom Winnifrith’s Ouzo, but I can’t seem to let the sick-bucket go.

Itaconix – Shares suspended as Neil Woodford’s week takes a turn for the worse

Published 942 days ago

I suggested yesterday that things were looking up for Neil Woodford but we can all relax again as matters return to normal with disaster looming around every corner for the star fund manager as Itaconix (ITX) has suspended its shares this morning pending a potential fund raise.

Filthy Forty Origo Partners: FY17 numbers due tomorrow, another investment disaster clocked up

Published 943 days ago

On Tuesday 26 June, ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) fessed up that it had lost another boat-load of cash, this time on Kincorra Copper (TSX.V: KCC). Actually, it didn’t – we were simply told it had been sold for CAD 2 million (around US$ 1.5 million). It is not until you realise that the company had sunk US$ 8.5 million into Kincora that you see what a shambles that investment was.

Woodford’s unheralded cash-guzzlers Part 1: More cash please, Neil

Published 943 days ago

It’s undoubtedly been a good week for Neil Woodford, with the Autolus IPO getting off to a flying start and I also sense the Stobart tussle is moving in his direction too. Nevertheless, as I’m still in a grump about his shoddy debt non-disclosure last week, I thought I’d have a look through the Woodford Patient Capital Trust (WPCT) portfolio to see what else I could find as he’s always banging on about unicorns hiding in there somewhere.

Tom Winnifrith Bearcast: Tesla, Tern, Lucian Miers, a stockmarket bubble and another BJ for Neil Woodford from the Mail on Sunday

Published 947 days ago

On my 24 mile walk with Lucian - a bit of a disaster as the last five miles were unplanned and very painful as described here - we discussed Tesla, Tern and the stockmarket bubble. I ponder that and then discuss a total Blow Job splash for Neil Woodford in the Mail on Sunday, a disgraceful day for "journalism."

Haydale – (almost) no-one-is-watching o’clock holdings in company tells you what you need to know

Published 948 days ago

AIM-listed Haydale offered a terrible trading update the week before last, announced the CEO was moving aside and we know it needs to raise cash. In that context, the ramptastic pre-placing RNS Reach of Tuesday and a sub-£9,000 director’s-wife’s buy announced on Wednesday would appear to need taking with a large pinch of salt. Last night, at 4.20pm, however, we learnt that Legal & General had been selling.

Woodford Patient Capital Trust: The Big Short (May update) – Shocking non-disclosure as debt now out of control

Published 948 days ago

Yesterday afternoon, Neil Woodford released his end-May portfolio updates and associated fund factsheets which highlighted the challenges facing Woodford Patient Capital Trust (WPCT) in the coming months as its debt position is now almost untenable, not that Woodford has disclosed as such.

Tom Winnifrith Bearcast: the fraudster's best friend in journalism, Ben Harrington, does his master's bidding again

Published 949 days ago

In today's podcast I cover in detail Telit (TCM) and also look at MySquar (MYSQ) partially in light of today's stunning news HERE. I look at Audioboom (BOOM), Frontera (FRR), Woodford Patient Capital Trust (WPCT), Prime People (PRP) and 88 Energy (88E). Tomorrow I will be bored to death by Lucian Miers, he will drone on about West Ham for 6 hours as we complete a 19 mile training walk from Bristol along the Avon to a few miles past Bath. I am building up to my 32 mile walk for Woodlarks with Brokerman Dan on 28 July. Think of my suffering tomorrow and please donate a small sum HERE.

Notes from Underground: Cold secrets

Published 955 days ago

Here's my question for you this week: do you tell anyone about subscribing to ShareProphets?

Tom Winnifrith Bearcast - I said he was mad, I was wrong

Published 956 days ago

In today's Bearcast I reflect that it is now just 6 weeks and 1 day to the great event. With gift aid myself and Brokerman Dan have now raised more than £8500 for Woodlarks. As I prepare for a 14 mile training walk this weekend please do sponsor me - I am sure you can afford to donate a tenner HERE. In the podcast I look at Orosur Mining (OMI) - down 48% today but still 90% overvalued - UK Oil & Gas (UKOG), Kefi (KEFI) - where we own shares - RedstoneConnect (REDS), Purplebricks (PURP), Neil Woodford and Feedback (FDBK).

Breaking: We publish Rosenblatt lawyers letter to Tinkler at Stobart accusing him (and Neil Woodford!) of trying to screw shareholders and worse

Published 957 days ago

Earlier today Stobart (STOB) fired its former boss Andrew Tinkler and threatened legal action against him for his actions. Via the Winnileaks service, I have obtained the letter from Stobart’s solicitors Rosenblatt sent to Tinkler which discusses the damning allegations made against him in detail. What is most extraordinary is that he is alleged to have been working in conjunction with fund manager Neil Woodford on actions that would have benefitted Tinkler and Woodford’s funds massively, at the expense of everyone else. This could be a scandal too far for Woodford… The letter is extraordinary and we publish it in full below…

Stobart: Board steps up pressure and summarily dismisses Tinkler

Published 957 days ago

More fun and games on the good ship Stobart (STOB) today with the Board not holding back and dismissing Andrew Tinkler from company and the Board and plan to bring legal proceedings against him, juts as I thought Tinkler (or Tinker as the Sunday Times called him at the weekend) might have been edging ahead.

Sell MiMedx and Purplebricks

Published 959 days ago

US biotech firm MiMedx (NASDAQ - MDXG) has announced that none of its financial statements going back to 2012 can be relied upon and that it is still unable to file for Q4 2017 and Q1 2018. Its CFO was leaving with immediate effect to be replaced by one Edward Borkowski, who had previously tended the books of Canadian pharma company Concordia until it went bankrupt.

Woodford and Autolus – Some much needed good news…..in the short term at least

Published 961 days ago

As I’m always quick to criticise, I thought it only right to congratulate Mr Woodford when the rare pieces of good news turn up and Autolus’s news yesterday is undoubtedly good news although I’m still going to make a couple of observations re Woodford Patient Capital Trust (WPCT).

Notes from Underground: Newfangled devices

Published 961 days ago

I'd appreciate it  readers would tell me whether you read ShareProphets on a phone or on their computer.

Time Out Group – Woodford dog argues “continues to trade well”. Really?!

Published 963 days ago

Media and entertainment group Time Out (TMO) has updated including “the group continues to trade well” and “we remain confident in meeting our strategic and financial goals for the year”. The shares have responded currently approaching 4% higher, to 83p, but why (other than natch, with Woodford Investment Management a significant shareholder), are they still down from a 150p June 2016 IPO and above 130p at the commencement of this year then?...

WPCT – Not more investment policy rule bending, Neil, surely?

Published 963 days ago

I’ve always thought it odd when investment vehicles merely take stakes in other investment funds as one ends up with duplication of fees. There is usually an investment policy limit on such stakes, not that Mr Woodford appears to be taking the limit at Woodford Patient Capital Trust (WPCT) that seriously. Why would he - rules are for the great unwashed aren’t they?

Woodford Patient Capital Trust – Anyone fancy a low-risk 10% per annum return?

Published 967 days ago

I’ve been meaning to write about the outrageous risk profile assigned to Woodford Patient Capital Trust (WPCT) for a while as it is patent nonsense and dangerous. I wonder whether there could be a mis-selling claim waiting to happen here.

Stobart: Great defence play by Team Ferguson in the Sunday Times today

Published 968 days ago

Continuing my commentary on the fascinating public boardroom battle being played out at Stobart, I thought I would highlight the role that the media plays in these and other more traditional hostile takeovers as I must tip my hat to the home team and their use/manipulation of the Sunday Times today.

Notes from Underground: The lessons from Howard Stern

Published 968 days ago

Tom yesterday spoke on his Bearcast about his life six years after Rivington Street Holdings, the listed company that he had founded in his Shoreditch flat.

Tom Winnifrith Bearcast: Okay I look a bit of a prat but Optibiotix buy case stronger than ever

Published 972 days ago

In today's podcast I look at Falcon Media (FAL), Avanti Communications (AVN), Echo Energy (ECHO), Fishing Republic (FISH) - Gary Newman can you help us out here, Woodford dog Xeros (XSG) and Optibiotix (OPTI). Now the Woodlarks charity walk. We have now raised just over £4,000 (nearly £5,000) with gift aid. A big shout out to Mark McDowell who pledged £666 yesterday (clearly a reference to Brokerman Dan). But 97% of Bearcast listeners are yet to chip in, I am sure you can all spare a tenner so please donate NOW HERE. To those who have donated already, thank you.

Stobart: Public dirty washing airing hilarity – is Woodford backing the wrong horse (again)?

Published 972 days ago

As a keen observer of the public markets, I love a good old-fashioned boardroom squabble as much as the next man but the one being played out in public at Stobart (STOB) is funnier than normal as the Tinkler/Ferguson tiff is only part of the comedy. Sure the details being shared add to the amusement but I am more concerned about the fact that Neil Woodford and Invesco’s Mark Barnett may have fallen out too – is the protégé finally casting the shackles aside?

Mereo - the worst Primary Bid offer ever flops disastrously - it says it was a success. Whatever.

Published 973 days ago

On Saturday Cynical Bear asked if the Mereo Pharma (MPH) offer at 300p via Primary Bid was its worst ever? The answer, notwithstanding stiff competition from uber dogs such as Toople (ROOP) was clearly YES!. And the placing has flopped. Living in la la land Mereo says it was "successful". Like fuck it was. You lie Mereo!

Woodford and the $2 billion spoof – Part 2: How many reasons do you want?

Published 974 days ago

The first part of this mini-series highlighted oddities relating to the recent $2 billion valuation of Benevolent AI, Woodford’s largest unquoted holding. To complement that piece, I thought I would undertake a bottom-up analysis to understand whether it could be worth such a sum. All I found was more spoofery. It’s a bit of a long read but surely you’ve got nothing better to do on Bank Holiday Monday!

Notes from Underground: The disappearing notes

Published 975 days ago

I don't know what this means. I'm just thowing it out there as something for you to ponder in your investment strategy. This lightning bolt of thought? People are using significantly less cash now, and the tipping point has been the past three months. 

Mereo Biopharma – Is this the worst PrimaryBid offering ever?

Published 976 days ago

I had to laugh last night when I saw PrimaryBid’s pre-Bank Holiday offer to the likes of you and me -  Mereo Biopharma (MPH) - as although there’s some stiff competition, I think this must the worst  deal offered up to-date and, in fact, worse than the other offer of a lifetime that I’m currently working out how to avoid, namely dinner at the in-laws during the Champions League final!

Woodford and the $2 billion spoof – Part 1: More odd-looking funding

Published 979 days ago

In my view, Woodford’s dealings with what is now his largest unquoted holding across his funds, Benevolent AI, is his kryptonite and will be his undoing and I’m doing a couple of articles outlining why I think the current $2 billion valuation is an absolute spoof and why I believe Neil Woodford is complicit in said spoofery.

Woodford Patient Capital Trust: The Big Short (April update) – Equity Income Fund ups its debt level to £170m!

Published 980 days ago

Yesterday afternoon, Neil Woodford released his end-April portfolio updates so thought I’d provide a bit of commentary prior to a couple of headache inducing articles (for Neil) later on in the week. Not a huge amount of change; however, it’s good to see an open-ended fund getting stuck into the use of debt in such a cavalier way!

Tom Winnifrith: Will you Support my daughter Olaf as she swims 5 kilometres up the river Dart

Published 994 days ago

Those of you in the Woodford session at UK Investor Show may have noticed that when coming off stage I was greeted not only by the Mrs and Joshua but by a very pretty teenage girl who was chatting to Mark Slater and Nigel Wray. That is my Welsh Nationalist daughter Olaf who is the reason Nigel and I have been involved with Woodlarks for so long.

WPCT: A review of the laughable results and three important questions for the Chairman

Published 996 days ago

Woodford Patient Capital Trust (WPCT) recently came out with its disappointing 2017 results and thought I’d highlight a few amusing aspects to try to cheer up shareholders here and ask a few serious questions of the Chairman, Susan Searle.

Notes from Underground: My brush with Julie Meyer

Published 996 days ago

The most memorable First Tuesday to me was the Boo.com one, where the Swedish founders of the site attempted to explain to the room why their website selling clothes needed £135 million to burn through. It was a massacre.

Buy a ShareProphets subscription for £5.99 a month TODAY - 2 weeks of unique treats in store if you do

Published 1001 days ago

In the fortnight following the UK Investor Show on April 28 there will be a spectacular avalanche of treats on ShareProphets but those treats will be for paying customers only. So what can you expect? And why should you join TODAY? Here goes...

Notes from Underground - Me vs the Internet

Published 1003 days ago

Unless you need high speed Internet, wherein we revert to the Victorian times. I swear, I don't know how Charles Dickens and Jules Verne got anything done with the poor Internet we suffer in the Capital.

EXPLOSIVE Video from UK Investor Show 2018 - Tom Winnifrith exposes the Neil Woodford myth on the main stage

Published 1005 days ago

The room was packed and I did not hold back one iota. I was nervous ahead of this talk as I knew that it would get a full house and, despite the intervention of my 18 month old son Joshua, I think it flowed well. It is no holds barred stuff on Britain's most conceited fund manager and explains why he is in very deep trouble indeed.

Tom Winnifrith Bearcast - 3 more Woodford disasters today & one tells a MASSIVE FECKING LIE as well

Published 1006 days ago

Oh dear it is another bad day at the office for Neil Woodford. First up I answer the question posed by Cynical about the great man HERE. Then I look at the disasters one of which told a monstrous lie in its RNS today: Mereo BioPharma (MPH), Mirriad (MIRI) and Hvivo (DOG). Then I look at Concepta (CPT), shares in which we own, Nighthawk (HAWK) and its dead cat bounce and finally at uber ramp Sound Energy (SOU) and what a CPR based on 2D seismic really means, i.e. Jack shit.

Woodford Patient Capital Trust: The Big Short (March updates) – WTF happened to the “hard” 10% unquoted limit at the Equity Income Fund?

Published 1006 days ago

There’s been a lot to comment on relating to Woodford Capital Patient Trust (WPCT) recently but with the March portfolio updates for all of Woodford’s funds finally being published on Monday, I thought I should get my updates out as Woodford appears to have been a bit preoccupied to do so with a minor biotech blip and the like.

Woodford Patient Capital Trust: GOTCHA – Investment Policy WAS changed: an absolute scandal!

Published 1008 days ago

Following on from my piece on Sunday in which I suspected that Woodford had covertly changed the Investment Policy for Woodford Patient Capital Trust (WPCT), it was confirmed this morning in its full year results. This is an absolute disgrace and shareholders should get on to their lawyers.

BREAKING: WPCT: Prothena blows up – yet another Woodford biotech debacle

Published 1009 days ago

Just as the tide seemed to be turning in favour of a couple of Woodford’s holdings, he suffered an absolute body blow this afternoon with his largest quoted holding, Prothena (NSDQ: PRTA), which comprised 9.12% of WPCT as at end-March, as it announced that it was discontinuing the development of its main drug  and the share price collapsed as a result.

WPCT – Has Neil Woodford changed the Investment Policy without telling anyone??

Published 1010 days ago

Following on from Tom’s excellent presentation at the UK Investor Show yesterday I thought it only right to continue in my questioning of the “star fund manager” especially as it looks to me as if the Investment Policy for Woodford Patient Capital Trust (WPCT) has been subtly changed (to the detriment of shareholders of course) but Woodford doesn’t seem to have told anyone!

Tom Winnifrith Bearcast - in awe of Cynical Bear and all my colleagues and feeling like a prat ( or not) over the AIQ scandal

Published 1010 days ago

I will see many of you at UK INvestor today. This was recorded last night as I struggled with my Neil Woodford talk. On that note I praise Cynical Bear for his amazing work on exposing Nomates but also all my colleagues at ShareProphets as working with them (even Darren) really can be good fun. I look like a bit of a prat selling my AIQ (AIQ) at 45p but a 130p share price at the close on Friday is a scandal and benefits no-one. I discuss what an outrage this is in detail and loom back to a similar bout of madness involving my pals Nick Leslau and Nigel Wray back in the dot com era. That was market madness, this is - I think - a genuine scandal.

Tom Winnifrith Bearcast: You know I did train as an oil analyst back in the black and white era

Published 1012 days ago

Im am putting off assorting my jumbled thoughts on Neil Woodford and the fraud MySquar (MYSQ) into an ordered presentation but that is for this afternoon. Pro tem I look at Avanti Communications (AVN), IQE (IQE), Mobile Streams (MOS), Nighthawk (HAWK) - off 60% today but still at the very least 80% overvalued - and Leaf Clean Energy (LEAF). If you like bearcasts then remember that at UK Investor on April 21 - THIS SATURDAY - one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH. ORDER NOW and we cannt post but will email you a ticket by tonight.

Woodford Dog Xeros - even house broker Jefferies talks about Squeaky Bum Time

Published 1012 days ago

Yesterday, Cynical Bear pointed out what a joke Xeros (XSG), a company trying to revolutionise the world of washing machines and another dog from the Woodford stable was becoming. The Nomad and broker is Jefferies but now you see how Chinese Walls operate.

Woodford-backed Xeros Technology: Is this 2018’s version of RM2 International? A resounding “Yes” so far!

Published 1013 days ago

Just before Christmas, I asked the question whether Woodford-backed Xeros Technology Group (XSG) would be this year’s RM2 International (RM2) in dropping from a £200m+ valuation to something close to 10% of that. Today’s results confirm that it is well on track.

Itaconix – Q1 trading update, ‘More cash please, Neil’ indeed!

Published 1016 days ago

Self-styled “a leading innovator in sustainable performance polymers”, Itaconix (ITX) has announced a trading update for the first quarter of 2018 trumpeting “despite adverse currency movements, group revenue has increased 8% year-on year in the first quarter of 2018”. Sounds decent enough so far…

Advanced Oncotherapy – first mover in the UK? Er….

Published 1017 days ago

My thanks to two eagle-eyed ShareProphets readers who have posted in the comments sections of my pieces asking about AIM-listed Advanced Oncotherapy (AVO) and its funding from Yantai Cipu in China, and the now expired, secured (on Advanced’s Harley Street premises), Blackfinch loan. We’ve still not heard a thing about either which is rapidly drawing me to a conclusion as to the answers. Not to worry: I’ll ask (for the fourth time) again tomorrow. But, with big hat-tips to Drunken Sailor and Daniel Victor, it seems that Advanced isn’t even getting over the line at Harley Street before two other proton therapy centres (one of which is up and running already) come on stream. It seems that first mover advantage has already been lost.

Notes from Underground: If a Bear casts in the woods...

Published 1017 days ago

Five of the top ten articles this week are Bearcasts. I have mentioned innumerable times my belief that we should just dump the text and have all writers record their stories instead. But the powers that be never see my vision, man. 

Utilitywise – Woodford-backed dog down again on accounting update

Published 1019 days ago

Shares in Utilitywise (UTW) are currently approaching 10% further lower, towards 30p, on the back of an update on the financial impact to it of accounting standard IFRS 15 (Revenue from Contracts with Customers), interpretations of which are mandatory for future accounting periods from the start of 2018…

SHOCKING: Woodford and Benevolent AI – Has Neil really been forced to give away his shares for free??

Published 1020 days ago

I’ve been wondering for a while how Neil Woodford was going to deal with the impending crisis at his flagship Equity Income Fund in relation to the hard, unquoted stock limit of 10% and with all his Get Out of Jail cards used up. Filings at Companies House seem to indicate that he was left with one last option – giving his shares back to the company at nominal value!

Notes from Underground: Bottom's up

Published 1024 days ago

The story of the week is EXCLUSIVE: When Conviviality said it had scrapped its dividend - the proof it lied. Did anyone else other than ShareProphets have this story? Of course not...that we break so much news here when newspapers have editorial budgets that are 10 or 20 times ours is pretty impressive is it not. A very good reason to stump up £5.99 a month to gain complete access to all our material.

Woodford’s Biotech Woes: Part 2 – hVIVO

Published 1025 days ago

Completing my weekend mini-series on a couple of (the many) Woodford-owned biotech investments that haven’t quite worked out as he would have hoped, I couldn’t help but notice that hVIVO (HVO)lost about 50% of its value this week so wondered what was going on.

Woodford’s Biotech Woes: Part 1 – Oxford Pharmascience / Abaco Capital

Published 1025 days ago

I may have mentioned a few times that I thought Neil Woodford had lost his marbles when he went pretty much all-in on early-ish stage biotech stocks in recent years but although everyone will be aware of the high profile disasters such as Northwest Biotherapeutics and Circassia (CIR), I thought that I would highlight a couple more examples this weekend that hit my radar this week showing how difficult / impossible it can be to pick biotech winners. First up, the business formerly known as Oxford Pharmascience, now Abaco Capital (ABA).

97% sold out - book your UK Investor Show seat NOW while stocks last- showtime is 14 days away!

Published 1025 days ago

UK Investor is acknowledged as the Country's leading one day event for those wanting to make more money from shares with an un-matched all star speaker lineup. The 2018 event is now exactly two weeks away. It takes place on April 21 at the QE2 Centre in Westminster and is now 97% booked out. So grab a free ticket TODAY while you can...

The one man you cannot miss - surely you want to know what the UK's top fund manager is buying & selling?

Published 1029 days ago

No! Not Neil Woodford silly! The data about who is the UK's top fund manager is very clear and unless you hold the charts upside down it certainly is not Woodford. The hard data shows that Mark Slater was not only the 3rd best performing UK fund manager last year but over ten years is No 1. Facts don't lie - Slater, like his late father Jim - is just incredibly good at stock picking.

The Woodford Easter Quiz – Odd One Out: The Result

Published 1030 days ago

Thanks for the few entries to the Woodford Easter Quiz. Although a couple of people got the odd one out and for the right reason, as I expected, only one person got it right and named all sixteen companies correctly so well done KayeSeraSera (again). A chocolate gift will be winging its way to you, probably in time for Christmas! Full results below.

All is not lost, don’t despair - I expect Sosandar and Woodford to spring back to life

Published 1031 days ago

As today is the day to celebrate resurrection, I thought it fitting to comment on a couple of stocks, namely Sosandar (SOS) and Woodford Patient Capital Trust (WPCT). Despite a difficult first quarter for the pair of them, I expect them to laugh death in the face and crack on from here bigger and better than ever.

DEADLINE MIDNIGHT TONIGHT: Competition Time: The Woodford Easter Quiz – Odd One Out

Published 1031 days ago

It being a major religious festival, I thought it appropriate to serve up another Woodford-related quiz. Simple on the face of it, just tell me which of the sixteen graphs below is the odd one out and why - a full answer is required other than the obvious. A chocolate gift to anyone who can go one better than that and name all sixteen companies. To assist on one of them, the graph is pre-share consolidation earlier this year.

Notes from Underground: Meet me in Westminster

Published 1031 days ago

In just under three weeks, I'll be very pleased to meet readers of this website at the UK Investor Show. While the analysts of this site are up on stage, I'll be holding down the fort at the ShareProphets booth.

RM2 International: Woodford all-in holding seven-deuce; wonder how it will turn out?

Published 1034 days ago

I ended my most recent piece on RM2 International (RM2) with a suspicion that Woodford was getting tempted to support these guys one last time and today a $36 million placing at 1p was announced, pretty much wiping out the existing shareholders and leaving him holding 67% of this uber-dog!

Time Out Group – Woodford’s involved... so 2017 results cash burn aplenty?

Published 1035 days ago

Media and entertainment group Time Out (TMO) joined AIM at 150p per share in June 2016 and, despite the shares having recently slid to 130p, reckons “clear progress has been made in 2017”. Hmmm…

Woodford Patient Capital Trust: Surely this is a breach of Investment Policy?

Published 1036 days ago

Further to my update piece last week, I’ve managed to take a closer look at the end-February portfolio of Woodford Patient Capital Trust (WPCT) and I just can’t make the numbers work. I can only assume that Woodford has breached his investment policy; let me explain.

Axel Springer invests £125 million but Purplebricks bosses are dumping shares as it issues profits alert

Published 1037 days ago

The good news for Neil Woodford and the other saps who own Purplebricks (PURP) shares is that German media conglomerate Axel Springer has invested £125 million at 360p - a material premium to thge recent VWAP. But then there is the bad news...

Notes from Underground: Photo finished

Published 1038 days ago

I'm pleased that  UK Oil & Gas - the photo that demands a statement now! is the #1 story of the week, it certainly made me laugh on the day. To wit: a photo was taken of a lorry being loaded up with equipment to take away from the UKOG site at Broadford Bridge.

Woodford Patient Capital Trust: The Big Short (Feb updates: WPCT) – Family silver being sold and the future looks bleak

Published 1040 days ago

Almost three years after launch, Woodford has achieved what would have seemed impossible at the launch of Woodford Patient Capital Trust (WPCT) back in April 2015 in that he has managed to compile a portfolio of 85 holdings without one obviously profitable company among them. Having sold the star of the portfolio in the month namely A J Bell, to keep the lights on and fund a few other future dogs, he’s now left with a whole array of cash-guzzling, largely illiquid dogs – what’s not to like.

Woodford Patient Capital Trust: The Big Short (Feb updates: Equity Income Fund) – Astrazeneca jettisoned but balloon still sinking

Published 1040 days ago

Well it only took until 22 March for the end-February portfolios to be updated for the various Woodford funds but quite a lot to cover so it’s a two-parter this month. I’m going to start by looking at Woodford’s valiant efforts in keeping his flagship fund, the Equity Income Fund, afloat. It’s not an easy task dealing with continual redemptions and he has had to ditch an old favourite to do so.

Utilitywise – Woodford-backed dog returns from suspension… along with a profit warning

Published 1041 days ago

Previously writing on Utilitywise (UTW) it was as the Woodford-backed dog currently suspended as unable to publish audited accounts, updates. The shares are today trading again after publication at last of results for the company’s year ended 31st July 2017!...

Purplebricks shares have tanked - what is going on? A cue for Neil Woodford to top up?

Published 1042 days ago

In days gone by Britain's most conceited fund manager Neil Woodford would have noted how shares in Purplebricks (PURP) have slumped from 440p to c300p in just over three weeks and because Nomates always knows better than the market he would have topped up his holdings. But cash is a tad tight for Neil so he has not done so yet. Maybe he will indeed extend his fund's overdraft and catch another knife? But why are the shares tanking. I suggest you ask RICS.

Tom Winnifrith Bearcast: surely Gert Rieder of Falcon is a fraudster who should be sent to jail

Published 1043 days ago

In today's podcast I start with a digression about driving to Greece given the day's good news about the hovel HERE. But I have a serious point about residual values of cars, ref BCA Marketplace (BCA), Northgate (NTG) and others. I then look at Falcon Media (FAL) and its boss who I accuse of fraud and think should go to jail. Then it is on to Milestone (MSG) - told y'all!!!! - Ferrum Crescent (FCR), De La Rue (DLR), and Amur Minerals (AMC). I have a pop at an Ulster born bimbo on BBC Business over Brexit and then discuss Neil Woodford where Roger Lawson defends the indefensible after today's shocking revelations. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH 

The Good News from Oxford Nanopore that exposes the valuation scandal at Woodford

Published 1043 days ago

I do hope that the FCA and the "Independent" directors at Woodford Patient Capital Trust (WPCT) look into this matter with some urgency as we appear to have evidence today, thanks to Oxford Nanopore, that Neil Woodford funds have been stating their NAV in an unnacceptably aggressive manner. And that is the most generous spin on what has gone on.

Two Pauls and a Nigel - learn value investing from the masters at UK Investor on April 21- today's offer

Published 1046 days ago

Value investing is how you make money from shares. Any other approach is not investing but speculating and is, by definition, hit and miss. So do you want to know what Britain's leading value investors are thinking and what shares they are buying and selling? Today's special opportunity is.... Three great value investors will be on stage together discussing how they select stocks and what they are buying and selling at the Global Group UK Investor Show in London on April 21. They are: Paul Scott, Britain's top share blogger, Nigel Wray, the man known as Britain's Buffett, and Dr Paul Jourdan the boss at the hugely successful Amati fund management operation.

In his own words. Neil Woodford on Vernalis, his disaster of the day (up for sale and firing staff)

Published 1048 days ago

The chart below says it all. Neil Woodford managed funds own 28% of Vernalis (VER). The shares were 50p when he filled his boots in a placing two years ago. They are now 4.5p as the company has started closing down its operations and has put itself up for sale. As ever, as the shares tanked, Woodford knew better....

HaloSource – proposed re-domicile, wonder what’s to soon follow?

Published 1051 days ago

Previously writing on HaloSource (HALO) last month, I noted developments again pointing to tight financials. There’s now a further announcement from the company…

Woodford’s Cheltenham Festival Quiz – The Result

Published 1052 days ago

Thanks for all the entries – I’m pleased to be able to say “entries” this time - to my Woodford Cheltenham Festival (HERE). I’m calling it a day early as the result is clear. Read on for the winner and the choice of Cheltenham runners on which I am placing the winner’s free bet.

A tale of the UK's two highest profile fund managers at UK Investor Show grab your complimentary ticket TODAY

Published 1053 days ago

Even though the event is still almost 7 weeks away on April 21, the Global Group UK Investor Show is now more than two thirds booked out - A highlight of the show is the tale of the two fund managers below: Mark Slater & Neil Woodford. Slater is the UK's most successful fund manager of the past decade. He will give the final speech of the day explaining where he sees the market, what shares he is buying, what he is selling and why. If there is a man to follow it is Mark. Neil Woodford is perhaps the country's highest profile fund manager and makes millions for himself. 

RM2 International: More good news – one more month’s stay of execution!

Published 1054 days ago

It’s amazing what can be done when one’s back is against the wall. For the third month running, the guys at RM2 International (RM2) have found some cash from behind the sofa and can put some money in the meter. Its RNS this morning is its most upbeat in a while although I'm not sure it will alter the long-term outcome.

Atom Bank: Huge funding round – a good result for Woodford for once

Published 1055 days ago

I do try to be balanced from time to time and despite all his troubles, there’s been a few green shoots for Neil Woodford in relation to Woodford Patient Capital Trust (WPCT) in recent weeks, most notably with a substantial round at Atom Bank…….although much more funding is still required.

Tom Winnifrith Bearcast: MySquar & UKOG - spot the difference: not all "death spirals" are the same

Published 1056 days ago

In today's bearcast I start with a reader complaint but then he is a tosser so who cares? Then it is onto looking at the differences between the funding facilities at UK Oil & Gas (UKOG) and MySquar (MYSQ). I am bearish on both but the differences in the two packages are instructive. I look at Nature Group (NGR), Jim Mellon's uber-ramp FastForward (FFWD) and at Purplebricks (PURP) is the Neil Woodford bubble about to burst again, as even former supporters like Paul Scott admit my analysis was right and theirs wrong.

End February performance update: start of 2018 shorted AIM shares

Published 1057 days ago

Early this year we showed Shorted AIM shares at the start of 2018. After the latest month, how's performance?...

A video to make you barf: Successful fund management is a balance between arrogance & humility says Neil Woodford

Published 1059 days ago

Either iii readers are thick and so sent in the daftest softest questions to Neil Woodford or thiis just another blow job paid for interview. Where are the tough questions about disastrous performance, investing in companies that need to break the laws of phsyics, Capita, Provident Financial, The AA, related party deals, RM2, the list goes on and on. If successful fund management is a balance between arraogance and humility it, perhaps, explains why smug Nomates Neil is doing so badly. Get the sick bag ready and watch below...

Notes from Underground: Chocolate teapot

Published 1059 days ago

Arix Bioscience: Will the Chinese save Woodford’s bacon?

Published 1062 days ago

In my conclusion to The Big Short series on Woodford Patient Capital Trust (WPCT), I wondered where new pools of capital could come from to keep these biotech valuations afloat now that Woodford has run out of money and I considered capital from China as a potential life-saver. Two pieces of news this week make me consider this further, one in relation to another long-term short pick of mine in the biotech fund space, namely Arix Bioscience (ARIX).

Vernalis: Another Woodford horror-show – a classic example of what happens when the money runs out!

Published 1062 days ago

Vernalis (VER) raised the white flag in its RNS yesterday morning and it is no great surprise to see Woodford and Invesco dominating the shareholder base. I hate to think how much Neil Woodford has spent on this dog over the years, but I’m going to see if I can work it out.

Feedback - Oh dear, Malcolm appears to have contracted a nasty bout of Woodforditis

Published 1064 days ago

To be clear, I don’t believe Malcolm has ripped off shareholders in an investment trust he manages by stuffing it full of unquoted stocks to save his bacon elsewhere; however, he does seem to have picked up a few of the “star fund manager’s” bad habits when it comes to a stock, namely Feedback (FDBK).

Provident Financial Rescue Rights issue - where does this leave Neil Woodford? Does he have a spare £115m?

Published 1065 days ago

Shares in Provident Financial (PFG) are falling again today thanks to weekend press reports that it is sounding out investors about a £500 million rights issue. The big question is where does this leave Britain's most conceited fund manager Neil "nomates" Woodford whose funds own 23% of the equity.

Neil Woodford gets blow-job write up in Daily Mail - shameful journalism but look at the reader comments!

Published 1066 days ago

"Why Woodford has NOT lost his magic touch... despite UK's star stock picker seeing a series of huge bets going wrong spectacularly". So screams the headline on a leading article by Paul Thomas in the Daily Mail. I suppose it depends on how you define magic? If you mean it is making things ( like other people's money) disappear then indeed, Nomates is still the King. Why was this article written?

Notes from Underground: Sweep week

Published 1066 days ago

It's harder to wake up this morning as I was up late watching the Gold Medal Olympic Women's Curling last night between Sweden and South Korea. Sweden won, but there is no shame in South Korea's performance.  For the unitiated, curling is life-sized shuffleboard (or bocce), but played on ice, and there is a pub at the end of the building. Also, brooms are involved somehow. My curling experience has mostly taken place at the aformentioned pub. TW Note. You are a truly sad man.

Tom Winnifrith Bearcast - My friend goes down for 21 months but the real story is Neil Woodford's £45m overdraft

Published 1067 days ago

My friend and former colleague the aristocrat Dru Edmonstone was - as widely reported - sentenced to 21 months last week for a £60,000 benefits fraud, something the pathetic wretch did to fund his spread betting addiction. I discuss this and ask does a case like that of Dru justify the current clampdown on spreadbetters. I think such a clampdown would not have stopped Dru for addicts will always find a way. I discuss the odd goings on at Saffron Energy (SRON) which hardly inspire confideence. But my main focus is on the revelation HERE by Cynical Bear that Neil Woodford's flagship £7.1 billlion fund has taken on an overdraft, as an emergency measure to fund either redemptions or a growing collection of falling knives or both. If Woodford believes what he says about markets being overvalued - and I do - this is a sign that Britain's most conceited fund manager has completely lost the plot and may be not that far from the final collapse. 

Woodford Patient Capital Trust: The Big Short (Jan updates) – Someone’s got to do it!

Published 1067 days ago

As Neil Woodford is such a believer in transparency, he has pulled his monthly updates altogether so these monthly updates now take on a greater importance to provide much needed information to the long-suffering investors in the three funds. Can’t imagine why Woodford stopped them?

Tom Winnifrith Bearcast: doing some futurology to help my good friend Neil Woodford & is it game over for Andalas

Published 1068 days ago

Oddly enough Britain's most conceited fund manager Neil Woodford has yet to agree to appear at UK Investor Show to answer some simple questions from me. What is he frightened of? I will have to go ahead with the session without him but I hope that he does not bleat on about how he had no right of reply! Anyhow, I discuss my futurology piece of yesterday and how it should be viewed if you are, like Nomates Neil, a big holder of auto related stocks. I cover BCA Marketplace (BCA), The AA (AA.) and Northgate (NTG) in this section. I also look, en passant, at another Woodford dog RM2 (RM2). Then I cover Milestone (TOAST) and finally pick up on the most excellent post on the comments section of this site by Drunken Sailor on POS Andalas (ADL)

73 Mind-Blowing Implications of Driverless Cars and Trucks - car crash ahead for the AA, BCA and others?

Published 1069 days ago

Hat tip to Andrew Monk of VSA for spotting this paper from Hult Business School. It does give you food for thought. Certainly why would anyone invested in a heavily indebted business with bigg exposure to the carrying value of cars as we known them ( Northgate or BCA Marketplace for example) or the AA? Maybe Neil Woodford should read this and ponder before he buys any more shares in the AA or BCA? 

Neil Woodford’s Cheltenham Festival Prize Quiz

Published 1069 days ago

Loyal readers will know that I, like Mr Woodford, love a quiz and with my favourite week of the year fast approaching, I thought I’d run a (simpler) quiz with a Cheltenham-related prize. There’s only two questions, so I’m hoping for more than one entrant this time!

House broker Cenkos (Lagos) on the AA - Neil Woodford's disaster of the week

Published 1070 days ago

As I write shares in AA Group (AA.) are down by 23% at 89p and you will never gbuess which high profile fund manager is a major holder, largely for the dividend income. Yup you got it, its Neil Woodford and yes the dividend is being slashed.

Idex - yet another Woofdog Norwegian money pit! Is Neil actually Montgomery Brewster in disguise?

Published 1073 days ago

I would urge anyone interested in these Woodford stock stories to read the sister Norwegian piece relating to Thin Film Electronics first as the similarities are astounding but it is worth covering Idex in its full glory. Yet another horror show.

Notes from Underground: Earworms

Published 1073 days ago

Bearcasts again dominate our top 10. Podcasts are dominating the iTunes chart. The daily NY Times podcast is now being syndicated to radio. There is something happenening in this space. And really, when you consider it, is there much conceptually different between a broadcast station and a webpage. Webpages have heretofore been static, but they are not regulated and much more freedom of subject matter.

Itaconix – a bit more to add on this classic Woodford dog case study

Published 1075 days ago

I appreciate that Steve covered the highlights HERE but it is worth providing a bit more information on yet another yapping Woodford pug as the tale is all too familiar and one that will no doubt be repeated again and again in the future.

HaloSource – expected Astrea launch in USA… but how’s this Woodford dog's cash position?

Published 1077 days ago

Previously writing, at the end of 2017, on HaloSource (HALO) it was a trading warning before a latest bailout from Woodford & co even approved. Today sees a further 2018 announcement from the company…

Market “crashing”: a few thoughts and 30 interesting yields for dividend munchers

Published 1077 days ago

Warren Buffett always tells us that his intended investment holding period is forever, that he buys stocks he would be happy to hold if the market closed down for five years. I guess, then, if you’re  Warren Buffett then the market travails of the last few days won’t bother you. If you’re not Mr Buffett I offer a few thoughts.

UPDATED: Neil Woodford - the big question panicking NEDS must ask him about Woodford Patient Capital Trust

Published 1079 days ago

UPDATED: Over the weekend I revealed a potential nuclear landmine that could well blow up the Woodford Patient Capital Trust (WPCT).The bad news for the asleep at the wheel nmot so independent NEDS at the Trust is that I have found two more landmines which have been averted but are there more?

Ombu Group another cash guzzler - can Neil Woodford meet his £50 million commitment?

Published 1080 days ago

At 31 December 2017, Ombu Group represented c2.02% of the Woodford Patient Capital Trust (WPCT) portfolio being two separate investments of 2.01 % + 0.01%. The principal activity of Ombu Group, according to its accounts, is providing capital and management support to fast growing companies in the fields of industrial technology, energy technology and water technology.

Tom Winnifrith Bearcast: Soho House is a canary, Woodford is Burmah Castol & the folly of M&A

Published 1080 days ago

In this podcast recorded in a car park I reflect on new mounting problems for Neil "Nomates" Wooodford and wonder if the demise of his empire will be the Burmah Castrol moment of 2018. I ask if the nutso planned IPO of Soho House is a lagging canary and I reflect on the folly of most acquisitions.

EXCLUSIVE: Insight into the Woodford investment diligence process

Published 1080 days ago

After much digging and talking to those in the know I have managed to piece together how Neil Woodford and his team assess potential investments and have actually managed to access a transcript of a recent investment meeting that makes very “interesting” reading!

Notes from Underground - They call them the Flash

Published 1080 days ago

I was reading the home town newspaper online ahd have found the securities commission that is far more effective than the living statues at the FCA. After a mere ten years, the British Columbia Securities Commission has decided to act and seize the assets of fraudsters that they identified a decade ago. You can just imagine that discussions at the FCA: Are they on drugs? How is such speed even possible?

Performance update: start of 2018 top shorted London-listed shares – market, Carillion & IQE crashing edition

Published 1081 days ago

Early this year we showed the ten top shorted London-listed shares at the start of 2018. Following the recent 'crash', how's performance?...

Woodford’s Whack-A-Mole is getting out of control – could be game over pretty quickly

Published 1081 days ago

CityAM announced earlier this week that Woodford’s Equity Income Fund had lost a billion quid in funds since the start of the year down to £7.2 billion. This has huge consequences for all his funds and I’m not sure he has enough arms to suppress all the troublesome blind burrowing mammals raising their heads above ground. For the avoidance of doubt, I am referring to metaphorical moles at this point rather than Woodford’s investment diligence team. Let me explain.

This week's Primary Bid offer is Frontera Resources - Woof Woof I'm out

Published 1081 days ago

Frontera Resources (FRR) is a dog with fleas but it is aggressively ramped and promoted. And it has just announced a £2.5 million fully underwritten open offer at 0.466p via Primary Bid.  This represents a discount of approximately 17.5% to the closing mid price today.

Tom Winnifrith Bearcast: Reach4Entertainment shares are a buy but I do not believe a word of today's trading statement & its PR men should be shot at dawn

Published 1084 days ago

I start with why this bearcast is late. I got back very late from London where I was watching my daughter play Harold Wilson in Made in Dagenham and she was brilliant. So too was the musical. Well done Olaf although you are wrong about the gender pay gap! I look at the market bounce and the shit that is leading it. I look in  real detail at the trading statement at Reach4Entertainment (R4E) where I am a shareholder, at Woodford dog RM2 (RM2) which is going on a one way trip to the vets in a fortnight and also at Woodford Patient Capital Trust (WPCT). Post bearcast it announced its NAV at 85.93p which means gearing must surely be through the 20% barrier. I also look at Optibiotix (OPTI) and the warrant exercise issue.

Poodle journalist on The Times does as PR spinners beg and puts buy case for Woodford Patient Capital

Published 1084 days ago

You will have read our detailed coverage of Neil Woodford's woes and especially those of his uber dog listed investment company Woodford Patient Capital Trust (WPCT). Our sell advice has saved our readers thousands of pounds. But we believe in balance and so below is the advice of The Times Tempus column which is to buy. It is poorly researched - compare its coverage of Atom Bank with ours HERE) for instance and reads as if it was dictated by a PR person as is so often the case with the stinking carcass that is the deadwood press. Here goes...

Neil Woodford & his Related party pals at IP Group - another damning note from JCap

Published 1084 days ago

I am really warming to analyst Anne Stevenson-Yang of JCap whose latest note on Neil Woodfords pals at IP Group (IPO) "Some Companies deserve to die" is a stormer. And she cites the great work done by Shareprophet (sic) in her report.

Woodford: Crisis?, what crisis?

Published 1084 days ago

One wonders what Neil Woodford has been doing in the face of Cynical Bear’s onslaught against his funds. Reading Cynical’s pieces, it is clear that the Woodford house was edging ever closer to disaster. Now it seems that the effluent is indeed in collision with the air conditioning: we’ve had disasters at Purplebricks (PURP) and Capita  (CPI), and there’s a stockmarket correction (at least we hope that’s all it is) underway. Oh, and we have numbers from the AA on Thursday – hardly the ideal time to take a hatchet to its dividend! So what has Mr Woodford been up to? Well, why change a winning formula!

The WPCT scandal – Shareholders should contact the Board and the FCA immediately

Published 1085 days ago

I’m not normally one for emotive comment but my “Big Short” thesis at Woodford Patient Capital Trust (WPCT) is playing out almost exactly as I anticipated, albeit more quickly than I imagined, and it is an absolute scandal, make no mistake. All shareholders should be seeking redress and recompense immediately. Let me explain.

Woodford Patient Capital Trust Plc – the adverse impact of leverage on performance

Published 1085 days ago

As we await today's NAV from, deep in the merde, Woodford Patient Capital Trust (WPCT) as well as possible confirmation its unquoted holdings have surged through the 80% limit as well as potentially news on how close hitis to breaching the bank limit of 20% gearing, it is worth reminding ourselves of one reason why it is in this mess - its high risk approach to leverage. 

Breaking: Prothena & Purplebricks crashing - is Woodford Fund now in breach of borrowing/unquoted limits? RNS needed ASAP!

Published 1086 days ago

As predicted here at the weekend Nasdaq listed Irish biotech Prothena (US:PRTA) is suffering a bloodbath today following the shock after hours resignation of its CMO on Friday. Shares in Purplebricks (PURP) are also crashing and that leaves the Woodford Patient Capital Trust (WPCT) in serious trouble - has it breached its banking limits yet?

Neil Woodford - now about the yield on the Income Focus Fund

Published 1086 days ago

I note that for the first time the NAV of the Woodford Income Focus Fund  (C Accumulation Units) has fallen below the 100p launch and that includes 3 reinvested dividends.

Tom Winnifrith Bearcast: A Tired Philadelphia Eagles fan - why did I bother waking up?

Published 1086 days ago

For reasons mainly to do with girls (well two of them) I have always been a Philadelphia Eagles fan. The last time they won a championship, Hurst, Peters and Moore were playing for West Ham - the two teams have a lot in common. Anyhow I stayed up late and for once fortune is not always hiding. Why did I get up? The market is a sea of red and I discuss that. I look at IQE (IQE) after chatting to Matt Earl, at Woodford Patient Capital Trust (WPCT), Inspirit (INSP) and at Shield Therapeutics (STX). Nomates Neil Woodford has not replied to my polite invitation of yesterday. 

FCA short positions table: more bad news for Woodford ahead?

Published 1086 days ago

I have been taking a look through the FCA table of registered short positions, following my piece on Interserve of Friday. I don’t offer anything exhaustive, but the largest individual short positions interested me as they are as high as 5.42% of the capital. That’s quite a bet. Oh, and just as it happens, Neil Woodford features with two of them. They are also all stocks where we at ShareProphets have been bearish.

An Open Letter to Neil Woodford - are you man or a mouse? Will you take my questions on a public stage?

Published 1087 days ago

I have today written to Britain's most conceited fund manager Neil Woodford to see whether he dares to stand up for himself and face up to me in public. Here goes

IQE - How this plays out Monday Morning & a heartfelt apology from me

Published 1087 days ago

I see that smarmy lefty millionaire comedian Bob Mortimer is boasting in today's Sunday Telegraph about how he bought IQE (IQE) as a penny stock and it is now 163p. Methinks not Bob. I warmed folks to sell at 138.5p in a detailed dossier published in October HERE. Matt Earl's 36 page note of Friday has really set the cat among the pigeons. The shares are 104p but will - I suspect - tank on Monday.

Notes from Underground: How about a top 30 for once?

Published 1087 days ago

Tom Winnifrith Bearcast - Neil Woodford is this weekend staring into the abyss

Published 1088 days ago

Capita was last week's main disaster for Neil Woodford although there were others. He has tried to polish the turd HERE but has failed. His next disaster is Prothena which could slump Monday and as I explain in this podcast it is massive for Nomates. I then explain how the whole Woodford empire could well collapse. Make no mistake, this weekend, Britain's most conceited fund manager is staring into the abyss. I also comment on Obtala - take up the Primary Bid offer HERE - and on my wife's failings as a navigator as I march through muddy puddles.

After Capita, the next Neil Woodford disaster is Prothena - CMO walks after hours friday

Published 1088 days ago

Uh oh! This matters as Prothena is a massive holding for Britain's most conceited fund manager Neil Woodford and as such an unravel here would be massive omlette on face time. Again. On Friday, after hours, the Chief Medical Officer of Nasdaq listed biotech Prothena walked.  If that is not a red flag what is?

Neil Woodford on Capita - you are talking bollocks you poltroon

Published 1088 days ago

Neil Woodford has published his thoughts on Capita (CPI) after its share price halved. To put it bluntly Neil Woodford is yanking the chain of his long suffering investors. In paragraph three he states: "Putting the share price reaction to one side for a moment, I am pleased that we have seen from the company what we thought would be coming". As a reminder, Capita has scrapped its dividend. Yet on 19 January Nomates opined:

Tom Winnifrith Bearcast: Don't tell Neil Woodford but Purplebricks is worth just 94p per share - or probably less!

Published 1089 days ago

Today's bad news for Britain's most conceited fund manager, Neil "Nomates" Woodford is a savage note on Purplebricks (PURP) by broker Jeffries setting a 94p target as you can see HERE.  I discuss why this target could be too low or could be far too generous but the shares are certainly a slam dunk sell. I look at IQE (IQE) in light of Matty Earl's bombshell note HERE. There is comment on Online BlockCrap (OBC) and a look behind the headline numbers and the turd polishing which shows why Mobile Streams (MOS) is so deep in the unpolishable merde 

Utilitywise – Woodford-backed dog currently suspended as unable to publish audited accounts, updates…

Published 1089 days ago

Yesterday Utilitywise (UTW) was “pleased to announce that the group has agreed amendments to its banking facility agreement… based upon forecasts that have been shared with the bank in respect of the group's plans for cash generation over the coming months”. Today there’s a Half-year net debt announcement (couldn’t these have been announced at the same time then?). Anyway…

Three more charts that show the absolute folly of Neil Woodford

Published 1089 days ago

As we have seen with the debacles at Provident Financial, Capita and elsewhere, Britain's most conceited fund manager, Neil "Nomates" Woodford likes to bet - other people's money - against the herd. A share price is tanking, the market must be wrong. The bears are adding to their shorts. They must be wrong too. Nomates always knows best, I demonstrated this with a chart looking at Capita (CPI) the other day HERE. Now I offer up three more Woodford dogs...

Interserve – no RNS, so why are the shares off by 15%?

Published 1090 days ago

I realise that there may be a spot of nervousness in the market at the moment – especially in the wake of disasters at Carillon and Capita. Does that explain why shares in fully-listed Interserve (IRG) are off by 15% today, with no RNS announced?

Big Sofa Technologies: Trading update – the cash is all fine, honest!

Published 1090 days ago

My Woodford piece earlier today highlighted the challenges of taking too much notice of what you hear from the company itself. I think the same can be said in connection with Big Sofa Technologies (BST) following its poor trading update yesterday.

Woodford and Capita – Strike two: a few observations

Published 1090 days ago

My conclusion to The Big Short series over Christmas was that although it was a long-term play, Neil Woodford was only a few pieces of “bad luck” away from a speedier, more dramatic implosion. This week’s Capita (CPI) news is the second of those already and we’re only one month in. Further to the excellent pieces on Capita yesterday (HERE and HERE), a few further observations on the wider Woodford story from me.

Capita - the chart that shows the depth of Neil Woodford's folly

Published 1091 days ago

Capita (CPI) is the latest high profile catastrophe for Britain's most conceited fund manager, Neil "Nomates" Woodford. Before we go to a chart of shame, a couple of choice quotes from his December montjhy excuse-sheet, sorry fact-sheet, published on 19 January

Tom Winnifrith Bearcast - I can't think what makes me so delighted about Capita's downfall

Published 1091 days ago

Is it that it is the organisation that threatens poor people ( and disproportionately women) with jail if they don't pay the BBC poll tax so that very rich women can get pay rises? Or that Neil Woodford is such a big shareholder and has said so many funny things about what a great investment this is? I discuss the woes of Capita (CPI). I also look at Rosslyn Data (RDT), and its interims which are out today and show that it is 100% fecked.  I discuss the Ariadne bombshell of today and the red flag lessons for those who buy shares in listed companies. And remember today is tax deadline day!

Capita – ‘update on transformation and outlook’ sounds innocuous enough. But then it's another Woodford stock…

Published 1091 days ago

An ‘update on transformation and outlook’ announcement from outsourcing company Capita (CPI) sounds harmless enough – but then I’m reminded that Woodford Investment Management is a significant supporter and, given its recent travails, let’s take a closer look…

Tom Winnifrith Bearcast: Bruno Brooks, those 17 f*cks, Anthea Turner and today's RNS nonsense

Published 1093 days ago

Yes indeed it is THAT Bruno Brooks, the one who was shagging Anthea Turner, etc, etc. who runs AIM uber dog Immedia (IME). I explain why its RNS today is the biggest F*ck of all. I also explain why no article on Julie Meyer today - I've been too busy cooking and serving poisonous pizza NOT! Then I look at Defenx (DFX) in some detail before having a butchers at another Neil Woodford dog Utilitywise (UTW).

Utilitywise – from bad to worse for Woodford-backed dog; shares suspended as currently unable to publish audited accounts

Published 1093 days ago

Having less than two weeks ago stated that it “expects to complete its year-end audit process in respect of FY17 and announce its final results by 31 January 2018”, today Woodford-backed dog Utilitywise (UTW) has announced “the directors have now concluded that the company will not be able to publish its annual audited accounts for the year ended 31 July 2017 by 31 January 2018”. Cue share suspension…

Tom Winnifrith Bearcast - Surging Sterling: it was never about Brexit

Published 1094 days ago

I start with a discussion on Neil Woodford. Should I do a "special" session on him at UK Investor?  Answers in the comments section below please. Sterling is very much on the up. It was never about Brexit, that was a lie from the liberal media and remoaners. It was always about base rates and they are now on the up. What does that mean for us all? I look at Prezzo, another restaurant chain in the merde but it is not just about being in the wrong sector at the wrong time it is about debt and that, as I explain, has wider implications. And finally I look at the latest initiative from this not fit for purpose Government, meddling with share buy backs.

Atom Bank: Yet another Woodford cash-guzzler – more funding required

Published 1094 days ago

Pointed in its direction by Robert Dwek in the comments on my last Woodford piece, I thought I would write an article on the hugely capital intensive Woodford portfolio holding, Atom Bank, a start-up bank. A bit of a long read but I found it quite intellectually interesting looking at the challenges facing a start-up bank and it also throws up one of the first major funding issues for Woodford caused by the predicament he has recently got himself into.

Malin Corp: Yet another Woodford cash-guzzler – part of the incestuous biotech investor family

Published 1094 days ago

Thought I may as well stick to a theme today and look at another Woodford investment which, surprise, surprise, undertook a placing on Friday, Dublin-listed, Malin Corp. This is yet another fund that invests in the same sort of early-stage biotech plays as Woodford Patient Capital Trust (WPCT). I will touch on why it looks overvalued to me and leave you with a piece of analysis to highlight the odd incestuous world of these biotech investors not that I’m making any accusations of course.

Notes from Underground: I have a bad feeling about this

Published 1094 days ago

Tom brings up crytocurrency fraud here - The Anatomy of CryptoCurrency Scams (tweaked) - but I get the sinking feeling that cryptocurrencies is going to be the next step in ShareProphets' fraud busting path.

Tom Winnifrith Bearcast - Is your portfolio in a bear market, mine almost is so I discuss it

Published 1095 days ago

I start with a look at the portfolios of those who are crowing as they have aced it for months. I have a warning for them. Then I look at my own portfolio, at the issue of short vs longer term performance at the individual stocks at risk reward and at why I am happy. Under discussion: Mark Slater, Neil Woodford, Optibiotix (OPTI), Reach4Entertainment (R4E), Falanx (FLX), Concepta (CPT), Big Sofa (BST), Premaitha (NIPT). I failed to mention Sosandar (SOS) but I am very happy there too. My HMD podcast I refer to is HERE

Bear Raiders Kerrisdale rips into hapless Neil Woodford on twitter

Published 1095 days ago

Hapless Neil Woodford has poured out his heart to the poodle press, Citywire, bleating about how wicked bears Kerrisdale have been beastly about one of the largest - and most obviously overvalued - of the pack of dog investments in his Woodford Patient Capital Trust (WPCT). The bears have bitten back!

Woodford Patient Capital Trust and Benevolent AI (again) – a bit more to the shoddy tale

Published 1097 days ago

I don’t apologise for banging this drum a bit more in the context of Woodford Patient Capital Trust (WPCT) as the transactions relating to Benevolent AI just look so wrong and WPCT shareholders should be fuming and raising hell. I also have a few more facts to share and two additional interesting pieces of information – one new, one old.

Frontera Resources slammed for breaching disclosure guidelines and more

Published 1099 days ago

Folks can ignore the warnings of myself, Nigel Somerville and Waseem Shakoor about the overvalued ramp stock Frontera (FRR) if they wish. But the City's No 1 oil analyst Zac "The Knife" Phillips has just published a very specific and damning note. No doubt "fat bastard" Malcolm Graham Wood will ignore this real analysis as he continues ramping the shares with misleading statements in return for generous cash payments to buy yet more pies.  But it might pay the Bulletin Board Morons to listen to someone who is not on the payroll and does know what he is talking about. Over to The Knife...

Tom Winnifrith Bearcast - the chart Neil "nomates" Woodford would rather you did not see

Published 1100 days ago

In the excitement I forgot to mention Nomates but you can see a chart below that he'd rather you did not. It is self explanatory and my father wants to clarify that like Larry Cummins of Milestone (MSG) infamy he does not have a degree from Oxford. But unlike Lyin' Larry he has two. I discuss Milestone, Blue Prism (PRSM), AIQ (AIQ), 13 Energy (I3E) and focus on Frontera Resources (FRR) and include in my coverage the sordid role of fat bastard, that is to say Malcolm Graham Wood.

“Betting on Zero” – Film review, some investment insights and a remake suggestion

Published 1101 days ago

It being the weekend, I thought I would take a break from stock specifics and make a few observations about a brilliant film that I watched recently on Netflix that I would recommend to anyone interested in investing, and particularly short-selling, as it tells the fascinating true story of Bill Ackman’s costly billion dollar short against alleged pyramid scheme, Herbalife (NYSE: HLF).

Notes from Underground: Cord cutters of the world unite, you have nothing to lose but your, um, cords

Published 1101 days ago

It's been 18 months now since I cut the (virtual) cord with Sky TV (SKY) and I can't say that I have missed anything, except a £50 per month-ish bill. It's been replaced by Freeview, at the impressive price of free, and Netflix (NASDAQ:NFLX) at £6.99 per month. 

Woodford Patient Capital Trust: The Big Short (Dec updates) – Things are getting ever tighter

Published 1103 days ago

As I anticipated in my RM2 International (RM2) piece yesterday, the December monthly updates finally came out yesterday afternoon and I thought it appropriate to provide monthly updates on The Big Short in conjunction with those each month so here goes. Quick summary: it’s not getting any easier for Woodford.

RM2 International: Good news – Neil Woodford’s dog has been given three weeks more to live!

Published 1103 days ago

Look, I’m trying to be nice. We were last told that it could be tits up for RM2 International (RM2) by the end of January and today we heard that it has found enough cash down the back of the sofa to last until the third week of February. Good news! The reality is that this is a cash guzzling uber-dog and highlights the predicament that Britain's most conceited fund manager Neil Woodford has got himself into.

Tom Winnifrith Bearcast - we capitalists give ourselves a bad name

Published 1105 days ago

In today's podcast I consider Julie Meyer and Ariadne, Provident Financial (PFG), another Neil Woodford dog, UtilityWise (UTW), OnlineBlockcrap (OBC), Mayan (MYN) and Carillion (CLLN) and how we capitalists keep on scoring own goals.

Woodford-backed dog, Utilitywise – another ‘Final results update’. Uh oh…

Published 1105 days ago

A “Final results update” from Utilitywise (UTW). Such an announcement would not normally be a cause for alarm, but here Woodford Investment Management has a major shareholding - and it was previously Auditor requests estimation methodology review by a third-party, results delayed again!…

Purplebricks - Scottish House Move attack ad

Published 1106 days ago

North of the Border, www.scottishhousemove.co.uk is going after Purplebricks (PURP) big time. Its homepage boasts that it will undercut Purplebricks by £750 and carries a stream of dismal reviews from allagents.co.uk for its larger rival. Then it really goes on the attack as you can see below.

Despite a big drop in share price Greatland Gold still looks expensive

Published 1106 days ago

Investors who believed all the hype surrounding Greatland Gold (GGP) received a nasty shock this week when the share price collapsed, but for many of us who have been around the market for a while it didn’t really come as much of a surprise.

Tom Winnifrith Bearcast, Versarien, Meyer, Woodford & Joshua learns foul language from some "Ladies"

Published 1107 days ago

So yesterday saw Joshua go to his first proper football match - Brislington Ladies vs West Ham Ladies. A full photo report will follow later but the language from the Essex Girls in claret and blue was not very lady like. Listeners, I was shocked. On the markets I look in detail at Versarien (VRS), Greatland Gold (GGP), Velocys (VEL), RM2 (RM2)  and as well as Nomates Neil Woodford I also have some Julie Meyer news, I fear that "Praise Be the Lord" may be about to send me a letter.

Woodford’s so good he can bend the laws of physics – The Industrial Heat debacle

Published 1108 days ago

I love Warren Buffett’s quote that you only find out who has been swimming naked when the tide goes out and after Woodford’s annus horribilis in 2017, it certainly seems to be easier and easier to find examples of his commando-style investing (thanks also to the pointer from ‘alcira16247’). Next witness for the prosecution, M’Lud, is Industrial Heat, a business that is trying to invent a “cold fusion” machine, an area of physics that most sane scientists appear to think is something out of a science-fiction novel. Not Woodford though.

Notes from Underground: Feeling tired and emotional

Published 1108 days ago

I've picked up this week's Private Eye and noted that they have chosen the Telit/Oozi Cats/Uzi Katz scandal for first place in their 2017 awards. And who do they credit for breaking the story? Quote: an Italian newspaper.

Card Factory now 232p after profits warning - guess who filled his boots in October at c315p?

Published 1111 days ago

Well which fund manager do you think always knows far better than than the market? After dismal interims in September, only those who always know better than the market would have snapped up 5.02% of the company in early October...

Tom Winnifrith Bearcast: Julie Meyer, Neil Woodford & MySquar - all rotters

Published 1115 days ago

In today's podcast I start with a few more words on Julie Meyer MBE although my formal series on her will only continue tomorrow. Then it is onto Neil Woodford in light of today's most excellent piece by Cynical Bear here. Finally I comment on the fraud MySquar (MYSQ) in light of today's article in the Sunday Times.

Another Woodford money pit – Thin Film Electronics

Published 1115 days ago

I wouldn’t normally cover stocks listed on the Oslo exchange but Thin Film Electronics was mentioned in the comments of a recent Woodford piece and I also noted it was the Share Punt of the Week in the Daily Mail on Friday, so if it is good enough for them to recommend a Woodford-backed cash guzzler to its brain dead readers, it is appropriate for me to provide another side to that story, especially as the cash burn here is off the scale.

Notes from Underground: don't bogart that share, my friend

Published 1115 days ago

In the UK, cannabis stocks are fever dreams of bulletin board morons. Here in Canada, it's respectable news in the quality newspaper financial pages.

Woodford’s Income Focus Fund – Just keep digging, Neil, keep digging

Published 1117 days ago

I’ve been smiling this week at the comments on Woodford’s website as the moderators are desperately sticking to the party line regardless of what is happening in reality or what Woodford himself is briefing to investors privately. Let me explain in the context of his Income Focus Fund.

UK Oil & Gas - Christmas share price competition. And the winner is...

Published 1118 days ago

On setting the competition at the end of November, shares in UK Oil & Gas (UKOG) were 3.85p bid. It was unlucky for Dave Jenkins as a share price-bashing “Operational, Technical & Corporate Update” was announced at attempted no-one watching o'clock 27th December - I was watching though...

Neil Woodford - now about the missing dividends and another thing

Published 1119 days ago

I gather that Neil Woodford's office has been busy dealing with questions relating to our most excellent series of articles and podcasts over Christmas. I have been made aware of its responses which are detailed but still leave me feeling incredibly unsettled on two major factors.

The ShareProphets 24 share tips of the year: No 23 a sell from Tom Winnifrith

Published 1121 days ago

Between December 24 and January 2 we are serving up 24 share tips of the year from our team of writers at ShareProphets. The share tips are for paying subscribers only. Next up is a sell tip, the sixth pick from Tom Winnifrith.

Scandal! Profits! Cats! ShareProphets most read stories of the year

Published 1122 days ago

In the last year, ShareProphets has produced 3733 articles from the scandals of Telit's Oozi Cats to the scandals of African Potash to the scandals of Cloudtag. Here are the 100 articles and 25 Bearcasts that were most read by ShareProphets readers.

The ShareProphets 24 share tips of the year: No 20 a sell from Lucian Miers

Published 1122 days ago

Between December 24 and January 2 we are serving up 24 share tips of the year from our team of writers at ShareProphets. The share tips are for paying subscribers only. Next up is a sell tip, the second of two from infamous bear raider, the Bard of the Boleyn, Lucian Miers.

Woodford Patient Capital Trust: The Big Short (Appendix 2) – A look at the detail of the strange Benevolent AI transactions

Published 1122 days ago

I alluded to the swapping of the Benevolent AI stock between the two Woodford funds in my early chapters of The Big Short looking at Woodford Patient Capital Trust (WPCT) but there are so many odd aspects to the saga going back a few years that it merits an Appendix to itself as it raises a number of serious additional questions for the Board in my view.

Notes from Underground: As you get older, three things happen. The first is your memory goes. I don't remember the other two.

Published 1122 days ago

The ShareProphets 24 share tips of the year: No 18 a sell from Cynical Bear

Published 1123 days ago

Between December 24 and January 2 we are serving up 24 share tips of the year from our team of writers at ShareProphets. The share tips are for paying subscribers only. Next up is a sell tip, the second from Cynical Bear.

Tom Winnifrith Bearcast - I just don't get the Provexis valuation at all and another question for Neil "nomates" Woodford

Published 1124 days ago

Star Wars beckons. Happy days. Ahead of that I discuss Stanley Gibbons (SGI), Provexis (PXS), Fishing Republic (FISH), Inspirit (INSP) and have some more questions for Neil "nomates" Woodford.

The ShareProphets 24 share tips of the year: No 14 a buy from Tom Winnifrith

Published 1125 days ago

Between December 24 and January 2 we are serving up 24 share tips of the year from our team of writers at ShareProphets. The share tips are for paying subscribers only. There is no Number 13 so we move from 12 to 14 - next up is a buy tip, the third idea ( of eight)  from Tom Winnifrith.

HaloSource – before (latest) bailout from Woodford & co even approved, an attempted no-one watching o’clock “Trading Update”. Uh oh

Published 1125 days ago

In September I noted on HaloSource (HALO) Woodford dog barks “very pleased with the progress”… but then admits it’s set to be cash crunch ahoy AGAIN!. There then followed a flurry of ‘news’… then surprise, surprise a fundraising… And now an attempted ‘no-one watching o’clock’ Trading Update. Uh oh. Trading warning ahoy?...

Tom Winnifrith Bearcast: Lyin Steve serves up a horror at UKOG, Woodford's disaster of the day and a question for an old friend

Published 1126 days ago

I start this bearcast with a tale of Joshua meeting snow for the first time - a photo later maybe. Then it is onto Lyin' Steve Sanderson and today's horror story at UK Oil & Gas (UKOG). The share price collapse is only starting. Today's disaster for Neil "Nomates" Woodford is HaloSource (HALO) which I discuss before posing a question for my old pal Jim Mellon about SalvaRx (SALV).  I comment on London Capital (LCG) and promise more on that debacle tomorrow while also noting that it is countdown to results day at Inspirit (INSP). Get your beer and Christmas popcorn ready...

To lose one NED is understandable - to lose two looks like carelessness: But could BCA be worse

Published 1126 days ago

Normally non executive directors give some notice when jumping ship. For a NED to quit within no notice the first day after Christmas looks bad. For two to go that way looks very bad. Happy Christmas BCA Marketplace.

Woodford Patient Capital: The Big Short (Appendix 1) – The (not so) “independent” Board of Directors

Published 1126 days ago

I made reference in my concluding part of “The Big Short” on Woodford Patient Capital Trust (WPCT) about a potential Appendix or two to deal with some of the detail, so here’s the first providing more information on the WPCT Board Directors which, as Tom has pointed out during his Christmas Eve Bearcast, are not particularly independent at all and there is a significant conflict of interest issue.

Tom Winnifrith Boxing Day Bearcast, if Neil Woodford had a bad 2017 here is why 2018 will be much worse and soon

Published 1127 days ago

The most excellent Cynical Bear series on the massive issues that Neil "Nomates" Woodford faces and questions he must answer drew to a close yesterday HERE. Now I go further pushing those questions just a bit more, asdking new ones and outlining three scenarions that could see the Nomates empire and all his funds crumble very quickly indeed. 

Competition Time: The Alternative Woodford Christmas Quiz – The Answers

Published 1128 days ago

Well, it didn’t get quite the response I was hoping for but it did get one excellent response from Kayserasera who was pretty much spot on with his answers and wins the charity donation and bubbles – congrats! The answers are below.

Woodford Patient Capital Trust: The Big Short (Chapter 5): Conclusion – the perfect short?

Published 1128 days ago

I’m going to draw together my analysis on Woodford Patient Capital Trust (WPCT) in one piece now so that if you’ve actually been enjoying Christmas rather than reading Shareprophets, you can start here and work backwards. I will also add a few words of caution that I picked up from the book “The Big Short” itself.

Tom Winnifrith Bearcast: On the phone today to a woman in floods of tears this Christmas Eve

Published 1129 days ago

In this bearcast I look at the role of NEDs and their failings in a bull market. that is a general point I then discuss the NEDs at Woodford Patient Capital Trust (WPCT) and how they MUST be replaced at once. The COI are surely too great. I then discuss a woman reduced to tears by charlatan and snake oil salesman Darren Winters this Christmas Eve.This story will horrify you. I then discuss Christmas. Whatever you do, however you spend the day I hope that it is in some way joyous. That magical moment at Midnight Mass as you sing "Yea, Lord, we greet Thee, born this happy morning" and you realise it is Christmas Day is now only hours away.

Woodford Patient Capital Trust: The Big Short (Bonus Chapter 4) – SHOCKING: The Income Focus Fund has been roped in now!

Published 1129 days ago

Er….hi, just me again! This Chapter of “The Big Short” looking at Woodford Patient Capital Trust (WPCT) wasn’t in the original draft manuscript sent to my editor but as something truly astounding was pointed out to me in the comments of my piece yesterday, I thought I’d better add to the opus. Hat tip to Robert Dwek for spotting it.

Woodford Patient Capital Trust: The Big Short (Chapter 3) – Concerns over its aggressive valuation policy

Published 1129 days ago

Having looked at the unquoted risk and the level of debt and connected liquidity issues within the Woodford Patient Capital Trust (WPCT), it is time to look at the tricky topic of valuation policy as it looks to me as if Woodford is taking a particularly aggressive approach, albeit a flexible one, to the valuation of the unquoted stocks (almost all the fund!) that casts further doubts on the underlying NAV.

Notes from Underground - Give the gift of ShareProphets

Published 1129 days ago

Tom Winnifrith Bearcast: Merry Christmas to you all unless...

Published 1130 days ago

I start with the issue that has been bugging me all week, there is light at the end of the tunnel. I review a number of villains like Rob Terry, MySquar's holocaust denying fraudster scumbag of a CEO Schaer & also the China team at Pinsent Masons and look at what 2018 has in store for them. I ask very serious questions indeed of the compliance department at Woodford Capital as Cynical Bear continues to take Neil Woodford apart. My experience as a failed fund manager gives me some insight into the mess I think Nomates is now in. I look at the shocking behaviour of London Capital (LCG) and Real Good Food (RGD) on Friday. Tosserrs. And, like Malcolm, I have a Christmas message for you all and send you all my best wishes. That is unless you are Woodford, Terry etc

Woodford Patient Capital Trust: The Big Short (Chapter 2) – The debt and liquidity crisis

Published 1130 days ago

Continuing  my festive series on The Big Short, Woodford Patient Capital Trust (WPCT), having highlighted yesterday the huge unquoted risk within the portfolio and having to clean up after its big brother, the Equity Income Fund, I wanted to turn next to concerns I have over its debt levels which leads on to liquidity issues.

Woodford Patient Capital Trust: The Big Short (Chapter 1) – Huge unquoted risk and a shocking conflict of interest

Published 1131 days ago

I started my festive series on The Big Short, namely Woodford Patient Capital Trust (WPCT) earlier by providing some wider context about some of the challenges Woodford faces particularly with his flagship fund, the Equity Income Fund, but let’s get into the details of WPCT itself. I’ll start with the ever increasing size of its unquoted portfolio and what appears to me to be a massive conflict of interest.

Woodford Patient Capital Trust: The Big Short (Foreword) – The wider context: Woodford’s problems with the Equity Income Fund

Published 1131 days ago

My Christmas Quiz may have been too clever by half (one entry so far at the time of writing!) but I found it helpful in any event as the research I undertook made me realise that there is massive short potential across the biotech echo chamber participants with Woodford Patient Capital Trust (WPCT) being the best example for a couple of specific reasons. Accordingly, I’m doing a few pieces over the festive period outlining my analysis and raising some serious questions along the way for Woodford to answer. To start though one must provide some wider Woodford context particularly in relation to his flagship fund – the Equity Income Fund.

Mirriad Advertising: The valuation echo chamber at work again - Sell

Published 1133 days ago

An interesting compare and contrast for me today looking at the two technology businesses that joined AIM yesterday at a very similar share price. That is where the similarities end though as one is a classic example of an overvalued business bid up by participants in the valuation echo chamber and one looks like that rare mythological beast – a Cynical Bear Buy tip. Let’s start with Mirriad Advertising (MIRI), the massive Sell pick.

Neil Woodford backed Xeros Technology: Is this 2018’s version of RM2 International?

Published 1134 days ago

As a natural bear, I’m always interested in finding the next £200 million plus business that could lose 90% in a year a la RM2 International (RM2) this year (see question 4 of my Alternative Woodford Christmas quiz) and I didn’t have to look far for the next possibility; just a bit further down the alphabetical list of Woodford’s holdings in fact, namely Xeros Technology Group (XSG).

IP Group - a disaster waiting to happen: One for the Bankers

Published 1135 days ago

US based JCap has published a devastating report on IP Group (IPO) a company heavily backed by Britain's most conceited fund manager Neil "Nomates" Woodford. It reckons that the shares could halve or it could be far worse.

Notes from Underground: Get ready for your closeup

Published 1136 days ago

One of the many arguments that I have lost with Tom is over the number of readers who reader ShareProphets on bank holidays and weekends. I always argued that the market is closed, so we should be too. Tom has argued that you guys are so obsessed that you'll sneak away from the Sunday dinner to listen to a Bearcast.

Roger Lawson slates IDOX but I think he is too charitable

Published 1137 days ago

I gave another bearish assessment of IDOX (IDOX) in Thursday's bearcast and the shares duly fell again sharply on Friday. They are now 30p valuing the company at £124 million. I am afraid that is still too high. Roger Lawson of Sharesoc is a bearish stale bull

Competition Time: The Alternative Woodford Christmas Quiz

Published 1137 days ago

First things first, I recommend that you should all have a go at the proper Woodford Christmas Quiz because, regardless of his investment performance this year, he can pen a good quiz (and there’s prizes too). Once you’ve done that have a crack at my alternative version celebrating his investment year.

Tom Winnifrith Bearcast - The Versarien debate, putting Lucian into context and Slater & Woodford on "cheap" Britain plays

Published 1137 days ago

I discuss Lucian's short on Versarien (VRS) which he discusses again today HERE. I really have no view but raise a couple of points which the bulls might take comfort from though I accept there is a valid bear case too. I look at On-Line (ONL), Lucian's new short,  and try to put Blockchain madness into a historic context. I cover BCA Marketplace (BCA) and then look at the Mark Slater & Neil Woodford thesis on "cheap British stocks." I get it but suggest that there is an elephant in that room called Jeremy.

Tom Winnifrith Bearcast: Yet another bad day at the office for Neil "Nomates" Woodford

Published 1139 days ago

Another bad day at the office for Britain's most conceited fund manager Neil "nomates" Woodford. There is yet more bad news at Vernalis (VER) now 9p having collapsed again - Nomates has been a big cheerleader after all prior disasters saying Mr Market is wrong. Whatever. Then there is the issue of IP Group ( IPO).  Elsewhere I takje another look at IDOX (IDOX) where I am even more bearish and then at Tungsten (TUNG) which looks all wrong. I also comment on Dialight (DIA) , The People's Operator (TPOP), On Line (ONL), Milestone Group (MSG) and a chat with Mark Slater on a pub company which is just the wrong price. 

Notes from Underground: Do you hear what I hear?

Published 1143 days ago

Another week where 7 out of 10 of the top articles are videos or Bearcasts. That's fine by me, it's a USP of ShareProphets membership and I'm glad that people are using one of the defining things of our site in such numbers.

Tom Winnifrith Bearcast: Of course you know best Neil (another bad day for Woodford), UKOG to sub 1p and Adam Reynolds NOT fired

Published 1148 days ago

I hope you enjoyed the two share tips earlier and thanks for the kind words from many of you abour our place in Greece. I start with a look at Strat Aero (AERO). I covered the dire maths earlier here but it is the sheer dishonesty of the placing that really annoys me. Then I look at more bad news for Nomates Woodford from Provident Financial (PFG) which cvould well up a zero. Then I cover UK Oil & Gas (UKOG) as its shares slide again and Arian Silver (AGQ) which is worthless. Adam Reynolds was not - as gleeful in house BB loon Wildes suggests - fired by Optibiotix (OPTI) - I explain why I remain uber bullish there. Finally today's interims from Vianet (VNET) are misleading and even after a 10% fall today the stock is a slam dunk sell.

Notes from Underground: Putting your portfolio up in smoke, willingly

Published 1150 days ago

This week, ShareProphets writers presented seven tips to buy for Christmas, including one from me. My original suggestion was vetoed by Tom as being 'not on AIM' and 'too weird.' But I'll share it with you now.

Tom Winnifrith bearcast: this time Neil Woodford is only talking 50% bollocks but what about Brokerman Dan on Ascent you ask?

Published 1151 days ago

The publicity hungry, failing, fund manager Neil Woodford is all over the papers. On the markets he's right ( and bearish) but when discussing his own (failing) funds he is talking utter bollocks and I explain why. Brokerman Dan (Levi) has formed a shareholder action group on Ascent Resources (AST). I discuss his case against them and make a few suggestions to the company. I comment on R4E (R4E) on the disgraceful behaviour of Pathfinder Minerals (PFP), look at RM2 (RM2) and then finally at Sabien (SNT) which look either to be on the brink of a last gasp fundraise ( at a more than 99% discount to the IPO price) or of insolvency. In the same breath I mention Inspirit (INSP), another AIM boiler room dog that should be shot.

RM2 International: Yep – it was another bad week ahead for Woodford

Published 1151 days ago

A week ago, I noted that news was due from the disruptive pallet manufacturer, RM2 International (RM2) and doubted that it was going to be positive. Well, it finally came out yesterday and I wasn’t disappointed although assume Neil Woodford and the long suffering shareholders of this and his Patient Capital Trust (WPCT) probably were.

RM2 International: Another bad week ahead for Woodford?

Published 1156 days ago

If I was Neil Woodford I would wake up each Monday morning thinking, for the love of god, please can this be the week with some good news to come out of the Woodford Patient Capital Trust (WPCT) portfolio. Unfortunately, I don’t think it will be this week as it looks like crunch time is approaching for the “disruptive” pallet-maker, RM2 International (RM2).

Notes from Underground: You'd better not pout, Chris Oil is coming to town

Published 1157 days ago

Whelp, my letter to Father Christmas is in the bin - I have everything I want now. Chris Oil is back. If the UK's most successful B&B Operator's son/Oil Baron is truly back, we'll have clicks and pageviews for months to come. If someone is looking for Hanukkah gifts, then please please please, a Rob Terry IPO for me. I've been good.

Anyone else notice the frightening similarities between Aberdeenman and Neil Woodford?

Published 1158 days ago

I had to smile this week as both Aberdeenman and Neil Woodford published blogs dealing with their investment elephants in the room namely Nuformix (NFX) and Prothena (NSDQ: PRTA) respectively. Worryingly, it was hard to tell the difference between arguably the finest stock-picker in the UK of the last twenty years and the Scottish market-abusing LSE, Twitter and blogger loon!

Purplebricks - Woodford in for a penny, in for a pound

Published 1162 days ago

A TR-1 released by AIM-listed Purplebricks (PURP) reveals that Woodford Investment Management - the stamping ground of former idol Neil Woodford - has been piling in to buy more shares in the light of recent weakness in the share price. Is it good news for Purplebricks? I fear not.

A Second big investor dumps Neil Nomates Woodford after more dismal returns - more to follow

Published 1166 days ago

Last month the Jupiter Merlin group which, at one point, had £942 million invested in funds managed by Neil "nomates" Woodford announced that it was pulling out its last monies. Now another big investment group has given up on Britain's most self important fund manager. Aviva, one of the largest savings providers in Britain, has had enough.

BCA Marketplace - the macro data out that reinforces the big short

Published 1167 days ago

Even supporters of BCA Marketplace (BCA) concede that it is massively operationally and financially geared to sales volumes in the second hand car market. And thus yesterday came the data that bulls such as Neil "Nomates" Woodford must have been dreading.

More problems for Neil "Nomates" Woodford as Kerrisdale savages biggest holding in WPCT

Published 1174 days ago

US bear raider Kerrisdale has launched a savage attack on the largest holding in the Woodford Patient Capital Trust (WPCT) the closed end fund managed by Nomates. The nature of the WPCT means that if Kerrisdale is even half right, Nomates is in big trouble.

HaloSource – recent flurry of ‘news’ & now a joint broker appointment. What could be next?

Published 1183 days ago

Last writing on HaloSource (HALO) last month I noted the shares then around 20% ahead on the day, heading towards 2p, on a water bottle agreement but that the company was soon set to again require bailout funding. There have since that date now been four further announcements…

CityFibre is yet to prove that it can be profitable

Published 1198 days ago

CityFibre (CITY) is one of those companies where I really struggle to see how the market cap is justified, even allowing for future potential and growth prospects. I covered the company bearishly around a year ago when two of the directors offloaded some of their shares when the price was 63p – albeit that they didn’t hold many of them anyway.

Notes from Underground: The Real Underground

Published 1199 days ago

For those of you that lived through the 60s, I met a living embodiment of that era the other day: Barry Miles, co-founder of the International Times and friend to Paul, Yoko, and Floyd (Pink). He has fascinating stories.

Provident Financial – update from this, another, Neil Woodford nightmare

Published 1201 days ago

Following a calamitous trading statement in August, there is now another “Trading Statement” announcement from Provident Financial (PFG) – this emphasising home credit business recovery plan progress and seeing the shares currently sparking higher. So, what’s the detail?...

The £1.75 billion company that could go to zero - a major report from Tom Winnifrith

Published 1202 days ago

The red flags are obvious. The business model is one that could blow up with the asset bubble that has created it. Even in a best case scenario the valuation is absurd. Oh and Neil Woodford is a major investor. Need I say more. After Purplebricks (PURP) which is a nailed down zero, this is my number 1 short for the Autumn.

Woodford - the Redemptions begin in earnest, Jupiter Pulls

Published 1203 days ago

I flagged up at the weekend why Neil "nomates" Woodford might be just a couple mmore high profile disasters away from disaster in terms of a flood of redemptions. Well it appears that some are not waiting for the implosion of Purplebricks and another Woodford car crash.

Tom Winnifrith Bearcast - what is the difference between Warren Buffett and Neil "nomates" Woodford?

Published 1205 days ago

Answers on a postcard. But for starters, one Hathaway, One had a way but lost it. I start with a detailed look at the Woodford Patient Capital Trust (WPCT) then run some numbers by you on LPE's and Purplebricks (PURP). I mention UK Oil & Gas (UKOG) en passant, Jersey Oil & Gas (JOG), Columbus Energy (CERP), Mirada (MIRA) and finally Conroy Gold & Natural Resources (CGNR)

Britain's craziest divorce case - how is a business making £40k worth £1.1 billion?

Published 1206 days ago

Given how crazy and one sided Britain's divorce laws are only a complete and utter idiot of a man who is worth anything at all would ever get married. When I married my Mrs I was worth minus money so it was my mother in law who insisted on a pre-nup. Whatever. Anything for a quiet life. But are we seeing peak insanity in the divorce courts?

Tom Winnifrith Bearcast: Double Blow Job for Woodford in Sunday Times, Neil you are not "Britain's Buffett"

Published 1206 days ago

The real fear Neil Woodford has is redemptions. The sleazey scoops for blow job articles deals in today's Sunday Times cannot hide that. I look at the absurd valuation of Oxford Nanopore, an unlisted biotech Unicorn, puffed in today's paper but also at the cracks now showing despite the glowing piffle in the same paper's write up on Nomates himself

Notes from Underground: Bearcast, king of the leaderboard

Published 1206 days ago

That fact that Bearcast is popular is not surprising, but consider that it underreported: hundreds of ShareProphets members that use their private feed to download Bearcasts to their smartphones and computers, which don't show up in the page views.

Purplebricks - what is really going on? More from heroic Chris

Published 1208 days ago

Yesterday we ran the gutsy response of Estate Agent Chris Wood to a fascist lawyers letter sent by Schillings on behalf of Purplebricks (PURP) in an attempt to gag him. We are not afraid of the wankers at Schillings having seen them off before when they tried to gag me on behalf of the fraudsters at Quindell (QPP). So let's hear more from heroic Chris. Below he explains why a LPE is certainly not always an E and the idea of portal juggling. Anyone owning these shares is bonkers or Neil Woodford or both. Over to Chris....

Purplebricks bullies another critic with fascist lawyers letter from Schillings but Chris Wood bites & fights back

Published 1209 days ago

Having received a fascist lawyers letter from heavyweight lawyers Schillings myself I know that it can be quite intimidating. Mine (HERE) was on behalf of the fraudsters Quindell (QPP) and I told Schillings that I would "see you in Court bitchez." I knew Quenron would not dare go through a disclosure process. Estate Agent Chris Wood is armed with the same knowledge and has thus responded robustly to a missive on behalf of Purplebricks. I have chatted to Chris at length today and, as someone convinced, that Purplebricks is a zero I am happy to republish the missive from Schillings  and the response of Chris which adds mountains of evidence to the fact that Purplebricks is a can of worms which is spending ever greater sums trying to gag critics with fascist missives from expensive lawyers. Over to Chris:

Midatech Pharma – a reader asks what we think (it’s not good….the curse of Neil Woodford (again)

Published 1210 days ago

I have to say I haven’t come across AIM-listed Midatech (MTPH) until now. However, with interims results just released perhaps I could get a handle on it. The problem is that the interim report has a few gaping holes in it, all of which leaves a strong sense of unease. The unease in increased when I note that the recent bailout placing (at a whopping 31% discount) showed up Woodford Investment Management as a major holder. Oh dear, not a good start….

Tom Winnifrith Bearcast: Has Uzi Katz dumped his Telit shares & the next Neil Woodford car crash awaits

Published 1211 days ago

I start with a discussion prompted by a reader request on whether a brand has a hidden added value which you should account for when making an investment. Another reader asks if it is time to buy back into Eden Research (EDEN). I think he is being spoofed and explain why. Then I look at the latest (non) news from Telit (TCM) and ask if the mortgage fraudster and fugitive from US Justice, Uzi Katz, has dumped his shares. I look at what is happening at Conroy Gold & Natural Resources (CGNR) , at the latest Mosman (MSMN) spoof, comment again on Nighthawk (HAWK) and then at the next Neil Woodford car crash RM2 (RM2).

RM2 International: The future’s fine apparently – just need funding and customers!

Published 1217 days ago

RM2 International (RM2) gets the silver medal in the Results Preview five horse race having released its interims this morning. I was keen to see progress on the funding but there is nothing definite on that front although there’s nothing to worry about out as the management have got it covered – yeah right!

RM2 International: Interims preview – another Woodford debacle

Published 1221 days ago

I’m continuing my look at forthcoming interims with the horror show that is the Woodford-backed RM2 International (RM2), first pointed out as an excellent bear tip by Graham Neary (HERE). One has to ask what the hell was Woodford thinking here?

HaloSource – shares soar on water bottle agreement, turnaround time for this Woodford dog then? Er…

Published 1222 days ago

Shares in HaloSource (HALO) are currently around 20% ahead on the day, heading towards 2p, on the back of an “Agreement with Seven Step Ecotech” announcement. Turnaround time for this Woodford dog then? Er…

Purplebricks...and another thing

Published 1224 days ago

An eagle eyed reader flags up another matter relating to Neil "nomates" Woodford's next disaster, that is to say Purplebricks (PURP) which, in light of the latest shocking revelations today, is a zero in waiting as I explained HERE.

BREAKING: Purplebricks - the Dynamite reviews it is utterly desperate you do not see: SELL Target price 0p

Published 1224 days ago

These are the genuine reviews on AllAgents.co.uk that Purplebricks (PURP) has attempted to ensure that you do not see by sending threatening lawyers letters as we exposed yesterday. As you can see they are dynamite and show quite clearly a flawed business model which sees customer after customer ripped off. Word of that is spreading which is why this company will NEVER make a profit and will sooner or later run out of money and go bust. The shares are a sell at 380p - target price 0p. Now read on and wonder why folks like Neil "nomates" Woodford and Roger Lawson want to own these shares... PS If Purplebricks wants to threaten me to remove these posts I will take great pleasure in seeing the bitchez in Court.

Sell Purplebricks

Published 1225 days ago

This was written before TODAY's SHOCKING EXPOSE. Despite falling 25% from its August high Purplebricks (PURP) has been a spectacular investment for practically everybody involved in its brief four-year history. 

BREAKING: Purplebricks - bogus internet reviews on Trustpilot as it launches in the USA

Published 1227 days ago

A questionable business model,shocking revelations on Watchdog, very murky management CVs exposed HERE, a complete lack of profits, a sky high valuatione, endorsements from shareholders "nomates" Neil Woodford and Roger Lawson as well as being tipped in the Godawful Midas Column in today's MoS- what could possibly go wrong for Purplebricks (PURP)? To justify its most recent keep the lights on fund raise it had to promise a new expansion strategy. And so on Friday it announced a US Launch. Natch it starts off with patently bogus internet reviews as you can see below. The Yanks are so dumb they will not notice will they?

Levrett: Prospectus released - good news for the (founder) shareholders: is this the new Cloudtag?

Published 1227 days ago

At the start of the month, I asked the question on the lips of all the Levrett (LVRT) shareholders, namely when the bloody RTO was finally going to arrive. Well, fair play, it was announced on Friday and shareholders should be pleased, particularly the founders who got in at a fraction of the price of the ordinary private investor.

Notes from Underground - Pay to play

Published 1227 days ago

We're four days into the reader supported ShareProphets and I'd rate it a stunning success. But what lessons are to be learnt are less clear.

Tom Winnifrith Bearcast: Blenheim & Allied Minds, why is Neil Woodford backing only 1 of these 2 accidents waiting to happen

Published 1229 days ago

In today's bearcast I take a detailed look at Allied Minds (ALM) another Woodford disaster waiting to happen and then at 60% overvalued Blenheim Natural Resources (BNR). I comment on accident prone DX Group (DX.) before asking where's Debbie gone? Yes has the Milestone (MSG) boss been resigned already?

Eve Sleep: Interims out – decent execution but the jury’s still out for me

Published 1229 days ago

I covered the trading update for the Woodford-backed Eve Sleep (EVE) HERE but with interims out this week, it is worth taking a closer look to assess progress in its maiden year on AIM. In summary, I would give it a B+ grade for execution but only a D grade for “ability to show there is a viable business model here” and would keep a watching brief for now. Doesn’t stop Neil Woodford getting stuck In some more though – natch

SHOCKER: Corporate Failures and Censures - the red flags at Purplebricks you ignore at your peril

Published 1230 days ago

Neil Woodford, Paul Scott and the man who compares himself to Warren Buffett, Roger Lawson, have no doubt done full due diligence on the manangement at Purplebricks (PURP), notably its founders, the Bruce brothers. Or maybe not...

Purplebricks - a couple of charts: what do the analysts fear is happening?

Published 1233 days ago

Nomates Woodford trainwreck in waiting Purplebricks (PURP) has not officially warned the market that it will not meet forecasts. However have a butchers at these two charts from Bloomberg...

HaloSource – Woodford dog barks “very pleased with the progress”… but then admits it’s set to be cash crunch ahoy AGAIN!

Published 1233 days ago

HaloSource (HALO) is “very pleased with the progress we have made with our newly executed all Drinking Water business strategy”. Good, good – this results statement for the first half of 2017 should be encouraging then…

Fake News on arrogant bastard fund manager Neil Woodford from the Mail on Sunday

Published 1234 days ago

Neil Woodford's fund management group has spent vast sums advertising its products in the financial press and has received vast amounts of slavishly positive comment in the same publications. These two facts are, of course, in no way related. And so after Woodford said sorry, in a terribly unconvincing manner, for having done so badly over the past year how does the Mail on Sunday's Alex Sebastian, himself a unit holder, spin this? With fake news natch

Arrogant Bastard Fund Manager Neil "Nomates" Woodford offers up the least convincing apology since Nixon

Published 1234 days ago

An evil PR spinner has had words with underperforming fund manager Neil "Nomates" Woodford, aka the most arrogant bastard in the City. Until now the line was "I am right the market is wrong, its business as normal." Now Nomates has recorded a video in which he says that he is sorry for the underperformance of his funds. Perhaps it is the fact that he has seen folks yank a net £350 million out of his £10 billion CF Woodford Equity Income fund in recent weeks that has caused the contrition. If redemptions continue on that scale, Woodford will be forced into some hurried share sales which will only compound his woes. The trouble it that Woodford patently does not feel sorry.

Notes from Underground: The Summer Wind, came blowing in, from across the sea

Published 1241 days ago

The summer silly season is now over, and over 77,000 individual readers read ShareProphets during the past week. That's 77k readers who came to read real analysis and honest opinion. ShareProphets doesn't aggragate stories, we don't do clickbait, and we don't coddle our readers. You should be proud that you're one of them. 

Royal Mail - second class post can be the value option!

Published 1244 days ago

In a world of omnipresent instant communication and next day delivery options, I am not really sure there is that much difference between the first and second class letter service - and I am certain that many of you reading this in rural communities can barely distinguish between the two. Anyhow, Royal Mail (RMG) has itself been downgraded this morning with the news it is out of the FTSE-100 and into the mid-cap melee known as the FTSE-250.

My top four short-able shorts in London

Published 1247 days ago

It is all very well saying that tiddly little companies like Advanced Oncotherapy (AVO) or Eden Research (EDEN) are worthless cash guzzling frauds heading for 0p but they are just very hard to short. That both stocks will hit zero is a given. In the end frauds always run out of other people's money. What you want are stocks you can short which look almost certain to collapse. And right now you need them badly as a hedge. A hedge against what?

Theresa May the Unacceptable face of Useless - the PM barges in on Mr Crook and Executive Greed

Published 1248 days ago

There is no doubt that ex Provident Financial (PFG) boss Peter Crook was a grossly overpaid and useless CEO. The £40 million he trousered in ten years is obscene given the share price collapse and nature of his departure last week. I have noted before that fat cat bosses give capitalism a bad name and allow those who seek to undermine the only way to make the world a better and more prosperous place to attack we capitalists. Idiots like Theresa May play to the gallery in joining in.

Lessons in Human Nature from the Woodford Debacle and Purplebricks the next shoe to drop?

Published 1248 days ago

I certainly don’t wish to gloat at the recent misfortunes suffered by many of Neil Woodford’s investments, but the sorry spectacle provides some useful insights into the role of human nature in investing and business in general.

Notes from Underground: We interrupt your regularly scheduled programme

Published 1248 days ago

Usually I comment on the most popular stories of the week, and the ones that were not read as much as they should have. But today I was going to tell more lies about President Trump and then smear Robert Lee like every other brain dead liberal Metropolitan elitist and finally the patience of Tom Winnifrith has snapped. If Darren wants to write fake news he can fucking well quit and go work for the fucking Guardian.

Reader Comment of the day - Roger Lawson has new smelly "friends" but needs a lesson in stockmarket basics

Published 1249 days ago

It seems that Roger Lawson of Globo and blinkx fame is not impressed by my suggestion that he is a bull of Purplebricks (PURP) and that it might therefore somehow be jinxed. But in a couple of after the pubs opened O'clock comments here last night he focusses the mind on what a select group he himself belongs to.

The Nomates Neil Woodford 2001 excuse/defence - it's just a Maginot line

Published 1250 days ago

It is quite amazing to see just how few friends fund manager Neil Woodford has in the City these days. It is almost as if I am starting to feel that he is a kindred spirit. Neil, how about we have a joint Square Mile Christmas party for all of our friends in a telephone kiosk somewhere? The vast fees Nomates has charged for delivering three years of dismal underperformance do not play well but it is the arrogant insistence that Mr Market is always wrong because Nomates knows better that has unleashed such waves of schadenfreude after his latest disasters. But he still has one or two defenders who say "aha remember 2001" - but this Maginot defence does not wash.

Arrogant bastard Nomates Neil Woodford explains his latest disaster Provident Financial

Published 1252 days ago

Showing not an ounce of humility, the fund manager who seems to have at least three high profile disasters as week, Neil Woodford has posted a comment on his group's blog explaining why Provident Financial (PFG) shares are cheap after yesterday's disastrous warning. But before you rush out to buy it is worth noting that after the last warning (in June) Nomates Neil posted another blog. Nomates had chatted at length to management, he understood the score, the market was wrong and Nomnates had bought a stack more shares. There seems to be a pattern here.

Sphere Medical – Yet another Woodford debacle: it’s all becoming a bit too common

Published 1253 days ago

When Neil Woodford launched his Patient Capital Trust (WCPT) to much fanfare in 2015, everyone waited expectantly to see how he would start spending the £800 million war chest and so one had high hopes in April 2015 with the announcement of the first investment for the fund, namely a £4 million investment in an exciting quoted biotech play, Sphere Medial Holdings (SPHR). As an announcement last night showed, it has been as successful (or not) as one of his other uber-dogs RM2 International (RM2).

Provident Financial – calamitous “Trading Statement”, shares plunge, another nightmare for Neil Woodford

Published 1253 days ago

Earlier this month in Neil Woodford - how long before The Deadwood Press admits that he does not walk on water?, Tom noted a bad record – recently including Provident Financial (PFG). The Mail on Sunday had written “the FTSE 250 doorstep lender whose profits halved after it struggled to move to a new operating model” - the struggles have got considerably worse…

Does Neil Woodford really deserve a halo - is Circassia the biggest dog in his funds?

Published 1257 days ago

If you read the bent, freebie is our middle name, personal financie columnists in the deadwood press, fund manager Neil Woodford walks on water. I disagree and have noted before, that, maybe, after three dismal years, others are starting to see the light.  But, with assistance from a leading broker, how about we have a real look at the Woodford Patient Capital Trust (WPCT) but also at the sort of dogs Neil ifalls in love with.

Notes from Underground: Here's a buy recommendation: invest in moped shares

Published 1263 days ago

London has a real table problem. At least the outdoor ones, and I don't see Mayor Sadiq Khan putting any effort into it.

Telit - as we often predicted this is the day the disaster unfolded, but can the CEO explain his £24m share sale?

Published 1268 days ago

I am not sure if Neil Woodford had a big stake but Telit Communications (TCM) ticked all the other red flag boxes for AIM casino disasters waiting to happen. UK Investor Show attendees know that this has been high on the bear's hit list for a while. Today the train wreck happened and as I write, shares in what was the most shorted stock on the casino, are 39% down at 156p. But a £199 million market cap is still a rum and coke. The shares could be 20p and I still would not buy. Pro tem I count this as another big win for the Sheriff of AIM.

Neil Woodford - how long before The Deadwood Press admits that he does not walk on water?

Published 1269 days ago

This website has not joined in the general financial press adulation of fund manager Neil Woodford. But the rest of the 4th Estate has not held back in praising him as some sort of legend. This is of course not in any way related to the vast amount he spends on advertising his Woodford funds across Fleet Street. Oh no... the financial media can always be relied upon as beacons of integrity. But now even the MSM are starting to wake up and smell the coffee.

HaloSource – trading update from this Woodford dog offer any different a bark?

Published 1286 days ago

A first half of 2017 trading update from HaloSource Inc. (HALO) includes “we are very pleased with the progress we have made with our newly executed all-drinking water business strategy… we expect to see continued growth going-forward” and that the company expects operating expenses to be reduced by more than 30% compared to the first half of 2016, with period-end net cash expected to be $2.1 million. A Woodford dog with a different bark?…

Eve Sleep – Positive sounding trading update but at what cost?

Published 1294 days ago

Following my initial piece on the Woodford-backed Eve Sleep (EVE) two weeks ago, I thought I would comment on today’s trading update which outlined great growth but it’s what it doesn’t say that worries me a tad.

When the Stock Market Goes Mad: The Case of RM2

Published 1294 days ago

It was my great privilege to speak at The UK Investor Show this year, along with the illustrious bears and short-selling raiders Lucian Miers, Matthew Earl and Gabriele Grego. For my choice of bear tips, I again went for the easy target of Fastjet (FJET) (down by over 70% since I first mentioned it in November 2015), but my new tip was the rarely-discussed pallet company, RM2 International (RM2).

Eve Sleep – Is this a Boohoo or an AO World? Tough call but it’s not a Boohoo

Published 1304 days ago

Thought I’d write a few sleep-related pieces today and am starting with initiating coverage on the mattress e-tailer, Eve Sleep (EVE). The company joined AIM in May raising £35 million and there is a lot to like about the business, but is it really worth over £130 million?

HaloSource – Woodford dog bailed out by few friends it has left, will the end still be the same though?

Published 1316 days ago

HaloSource (HALO) “is pleased to confirm that the company has raised approximately £1.8 million ($2.2 million) through the issue of an aggregate of 117,692,560 new common shares to new and existing investors at a price of 1.5 pence per new common share”. I bet it is…

Hal-o no again! – prospective HaloSource investor not re-applying for approval, c. 17 days to stave off insolvency for Woodford dog

Published 1323 days ago

Writing last week on HaloSource (HALO), I noted a Chinese governmental approval to enable a cornerstone investment had not been granted and that the investor was now to seek to make another application for the approval. However, I questioned why will the outcome be any different this time? And, even if it is, how long will it take? There is now an “Update on Fundraising and Funding Options” announcement from the company. Uh oh – that was the funding option, so what now for this Neil Woodford dog?...

HaloSource – Chinese investor approval “not been granted”, currently c. 21 days to insolvency for another of Woodford’s dogs

Published 1327 days ago

Writing on HaloSource (HALO) last week, I noted funding delay from China now leaves no margin for error. There is now a “Further Update on Fundraising” announcement, which includes “the Chinese governmental approval has not been granted”. Uh oh…

Flip Flop Ben Turney at Teathers - do your civic duty: tax dodging is wrong

Published 1435 days ago

I wrote earlier today that Flip Flop Ben Turney who now finds himself running failed ex AIM investment vehicle Teathers really MUST go to the Old Bill demanding a full investigation into the ATM withdrawals by ex FD Nilesh Jagatia. A reader points out that Flip Flop has another civic duty to perform on this matter, he must go to the taxman. Ever keen to help...

An Open letter to Ben Turney - why have you not called in the police at Teathers Financial

Published 1435 days ago

Yesterday I revealed a series of 74 "interesting" transactions on the Teathers Financial (TEA) company credit card and some curious payments on the Teathers pre-payment card belonging to Nilesh Jagatia the company's former FD. There is now a very real suspicion that Teather's poor shareholders were paying for Jagatia's domestic shopping at his local Sainsbury's in South Woodford and that he was making withdrawals from the company's account for personal use. I have thus written to the new CEO flip flop Ben Turney who, of course arrived in the coup that saw Jagatia fired. The letter is below.

BREAKING: Teathers Financial shocker: Nilesh Jagatia - Show Me The Money!

Published 1436 days ago

The way that shareholders' cash was pissed away on corporate jollies & semi clad young ladies by the former board of Teathers Financial (TEA) has already been documented fully here. But documents have now fallen into my possession, here at Winnileaks, which ask even bigger questions about FD Nilesh Jagatia who is pro tem, still FD at AIM-listed Inspirit (INSP) and Octagonal (OCT). After this bombshell I wonder for how long.

Brave Bison – How long has it been sitting on price-sensitive information? Shocking!

Published 1438 days ago

Steve Moore touched on Brave Bison’s (BBSN) disappointing profit warning yesterday (HERE) but I feel he could have said more as the timing of yesterday’s announcement is shoddy and needs further investigation as does some of the other recent announcements.

If 2017 is going to be like 1932 or 1979, then you not only have to change your portfolio you have to...

Published 1471 days ago

Reforming the very nature of capitalism will be needed to combat the growing appeal of populist political movements around the world, the World Economic Forum said on Wednesday. Getting higher economic growth, it added, is necessary but insufficient to heal the fractures in society that were evident in the election of Donald Trump as U.S. president and Britain's vote to leave the European Union.

2016 a bearcast year in review: Tom Winnifrith's favourite 10, and your top thirty

Published 1490 days ago

When I started bearcasts the plan was not to do them on a daily basis. But that is the way they are now produced. I have the odd day off but I enjoy recording. You cannot generate a typo in a bearcast. Sometimes the language is extreme, sometimes - as when, like now, I am with my father, - I speak like an Angel. The point is I say what I think and for some reason, most weeks, the bearcasts are always among the most read articles on ShareProphets.

Sunday Times on Proton Beam Therapy - the numbers for Advanced Oncotherapy do not add up

Published 1542 days ago

The Sunday Times today has splashed on the roll out of proton beam therapy centres in the UK. It states there are plans to build SIX centres in the UK...but....

Tom Winnifrith Bearcast: can someone teach Welsh git Justin the Clown how to read?

Published 1545 days ago

Poor old Justin the Clown is still talking cobblers about Andalas (ADL). Perhapds it is the strain of now having to live in a cardboard box but the poor fellow now seems unable to read so I put him straight. Then it is onto Halosource (HALO) where Neil Woodford is taking another big hit which reminds me that Nigel Somerville and I are doing a special session on Woodford disasters at UK Investor Show on April 1 2017. To celebrate this we have 20 complimentary investor class seats to hand out today. Just go to www.UKInvestorShow.com and book using the promotional code NOVUKSP - book now!  Elsewhere on bearcast I discuss Xtract Resources (XTR) and Gattaca (GATC). 

Circassia Pharmaceuticals - A Husk with a Chunk of Cash

Published 1575 days ago

Shares in Circassia Pharmaceuticals (CIR) have flatlined since the big sneeze last June when the company reported the failure of its cat allergy trials. Once close to a market value of £1 billion this company has proved to be the biggest ramp in the UK Biotech sector in recent years, supported by the bluebloods of JP Morgan Cazenove and, of course, Neil Woodford.

Magnolia Petroleum another keep the lights on placing. Its pointless - this dog should be shot

Published 1636 days ago

I have warned you repeatedly (the archive is HERE) that AIM listed Magnolia Petrooleum (MAGP) is a dog with fleas that exists merely to keep its useless board in well paid employment and to provide coke and hookers money for the crony capitalists. It will never make money for shareholders. Hence today we see a laughable bailout placing. Death is merely postponed.

Notes from Underground: Remains are the day

Published 1675 days ago

Several weeks back, I assured readers of this column that 'remain' would easily win the vote. (To which Tom added, 'why not let the people of Britain have their say first'.)

Tom Winnifrith Bearcast: Drown all cat haters including my brother in law

Published 1681 days ago

I am back in from the fields where I have been labouring in 40 degree plus heat. Today I offer a few thoughts on Circassia (CIR) and the risks folks just dont seem to appreciate of a) biotech and b) backing stock selections of star fund managers, in this case Neil Woodford - who incidentally is clearly a very talented chap. I look at Gulf Keystone (GKP), XCite Energy (XEL), China Frauds and then in some detail at Blur (BLUR). For further info on its brain dead dickhead of a PR man Dominic Barretto go HERE

Circassia shares crash on cat trial failure - the latest Neil Woodford Biotech disaster

Published 1681 days ago

Hats off to veteran journalist Tim Blackstone who called Circassia (CIR) as a short with a £900 million market cap on January 16 this year HERE. Today the shares have crashed by 64% to 98.5p giving it a market cap of just £261 million. Tim Blackstone dared to go up against Neil Woodford with this call as he is the largest shareholder. It looks like another biotech disaster for Woodie. 

Notes from Underground - Other voices, other rooms

Published 1780 days ago

Maybe it's because it's a big US stock, or maybe because the world just hates working with Microsoft, but Nigel Somerville's Hey! Microsoft! Fuck you and fuck you some more - re Windows 10 comes in at an easy number 16, which is extremely high for a non-Tom story. Particularly one only written yesterday. It apparently has got under people's skin.

Tom Winnifrith Bearcast 6 March: Crook Rob Terry, Neil Woodford & the pig Richard Chase

Published 1787 days ago

This podcast looks at three men. First is the criminal fraudster and expenses thief Rob Terry and I discuss what sort of trial and what sort of punishment needs to take place and be imposed. Then it is fund manager Neil Woodford and I look at his growing biotech headaches. Finally the greedy pig Richard Chase of Nyota. If you have not yet listened to yesterday's special on this failure of a CEO please do so and send the email I request.

Utilitywise plc – a peculiar case of reviews & more

Published 1803 days ago

Having previously highlighted areas of particular interest in the accounts of Utilitywise plc (UTW) HERE, I earlier updated – concluding that the noted concerns see me continue, ahead of 19th April-scheduled results for the six months ended 31st January, to remain cautious (see HERE). I now update further following the comment to that earlier piece from reader ALCIRA16247...

Notes from Underground - A rose by any other name

Published 1822 days ago

Another week that shows a crack in the facade of Tom's Top 10 Dominance: Cynical Bear's Is Neil Woodford's Halo slipping? makes the list at number 10. For the avoidance of doubt, Tom did contribute 23 of the 25 most read articles.

Is Neil Woodford's Halo slipping?

Published 1826 days ago

Following on from Steve Moore's piece on Halosource (HAL) yesterday, I wanted to highlight a couple of further points, in particular commenting on the predicament in which it leaves the investment guru, Neil Woodford.

Letting the Cat Out of the Bag: Circassia is a short

Published 1837 days ago

In the mid nineties the flagship of UK biotech was British Biotech a constituent of the FTSE 100 share index with a valuation of £1.5 billion. The company enjoyed the support of the leading healthcare analyst, Dr Ian White, and rode high on a supposed inhibitor for cancer called marimastat. In my swansong as a financial journalist I wrote a devastating critique in the Mail on Sunday in the summer of 1996 with on the record quotes from leading oncologists in Edinburgh and London. Subsequent investigations on both sides of the Atlantic found that the company “had wilfully misled the public about the progress of marimastat”. British Biotech collapsed.

Purplebricks foundations look very shaky

Published 1850 days ago

Purplebricks (PURP) floated on AIM during the middle of last month, but its valuation looks on the high side to me.

Cenkos , Quindell and the Serious Fraud Office..let me help you gents with a leaked email

Published 1878 days ago

The Sunday Times today reports that the Serious Fraud Office has demanded boxes of documents and emails from Cenkos, the Nomad to Quindell (QPP) as part of its enquiry. Let me assist you Gents, for Cenkos actively worked to protect this fraud as the AIM regulation team knows full well. You see...I was inadvertently cc'd in on emails between Cenkos and the chocolate teapots.

Zak Mir's Great Request Show: Real Good Food, Tungsten Corporation, Woodford Patient Capital Trust

Published 2015 days ago

If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at Real Good Food (RGD), Tungsten Corporation (TUNG), Woodford Patient Capital Trust (WPCT).

Allied Minds still a sell after results - 3 times overvalued

Published 2095 days ago

Allied Minds (ALM), as we have discussed previously, is an R&D-focused company with interests in “life sciences and high technology”. In its own words, “Allied Minds' core aim is to focus on early-stage disruptive technologies that it believes have significant upside potential and to realise that potential through supporting commercial development.” There are few instances of companies with almost zero revenue generation entering the FTSE-350, but this is one of them.

Do the Maths: Parsing the Horse Hill Press Releases

Published 2114 days ago

The mainstream press and the bulletin boards are all of a tizz about a massive discovery of oil at Horse Hill in Sussex. The numbers are quite gargantuan. The BBC reports there could be 100 billion bbls of oil in place. Now do the real maths.

Allied Minds -a clear short ahead of results

Published 2114 days ago

How’s this for a stonking sell? Allied Minds (ALM) is a member of the FTSE-350 index and is capitalised at £1.55 billion. This is rather impressive for a company which in the six months to June 2014 reported revenues of $2.9 million and a loss of $27.2 million.

Tom Winnifrith Bearcast - are biotech valuations bonkers

Published 2124 days ago

Self important fund manager Neil Woodford flagged up concerns about biotech valuations the other day. Discussing inter alia Plethora (PLE) another bit of a disappointment for my good friend Jim Mellon I look at how investors do and should value such stocks and tend to agree with Woodford that right now risk reward are out of kilter.

Tom Winnifrith Quindell Bearcast Special - forget the spin look at the cash

Published 2206 days ago

Quindell (QPP) is spinning for its life. I examine how it spins what is bad news. The only 2 guys it can find as new NEDS are proven failures. The trading statement is dire. Look at the miss on cash generation in Q4. And look at the real net cash position. This is woeful. The statement on revenues and earnings is telegraphing that PWC is going to be red ink City and the fact that there is no PWC until the end of Febuary shows how bad things are.

BT Prepares Funding for EE Move

Published 2229 days ago

Money doesn’t grow on trees, and the money to fund BT’s (BT.A) £12.5 billion takeover of EE has to be found from somewhere. So BT is potentially preparing a raft of measure to find the money. There is speculation that this includes a £2 billion rights issue. A further £3 billion could be raised in the bonds markets.

HSBC Results Hit By ‘Significant Items’

Published 2274 days ago

I’ve taken a while to absorb the HSBC (HSBA) Q3 results. It’s interesting to see how the market reacts a while after publication.

Neil Woodford thinks British American Tobacco (BATS) is Fundamentally Undervalued and I Agree!

Published 2301 days ago

Neil Woodford has been adding to his holding in British American Tobacco (BATS) for his CF Woodford Equity Income Fund. Brokers such as Berenberg and Noruma also rate the share a buy. And stop the press, since I first wrote about them HERE have also topped up!

The Advice of Others

Published 2317 days ago

My father originally advised me that Sainsbury’s (SBRY) was a good buy at 315p. “In the long term they’re good value at this price.” I did my own research, saw that the PE was low and the yield attractive. I didn’t have any shares in the supermarket sector and never had, so it was good from a ‘diversity’ view I guess. I bought the share.

Royal Mail: Buy, Sell or Hold?

Published 2323 days ago

Royal Mail (RMG) shares are trading at 419p with a yield of 3.17% and a PE of 3.25. Royal Mail is known throughout the UK as a ‘universal service’ provider of letters and parcels.

HSBC: Buy, sell or hold?

Published 2334 days ago

Shares in HSBC (HSBA) are currently trading at 657.8p, offering a yield of 4.59% and on a PE of 12.89. So are the shares a buy, sell or hold?

GlaxoSmithKline- a Good Addition to Your Portfolio

Published 2337 days ago

GlaxoSmithKline (GSK) shares are currently trading at 1457p on a PE of 13.1 and a dividend yield of 5.35%. I’ve only fairly recently bought into the company, here is a table at between 1379p and 1556.6p, So I am not exactly quids in yet but this is a long term play.

Buying from a forced seller is good news: Imperial Tobacco

Published 2386 days ago

I may not have ever smoked, but I spent some time yesterday evening pouring over glossy photos of cigarette packets – that is old school cigarette packets with their bold colours and snazzy lettering and not the modern day equivalents with cancer warnings and photos of diseased body parts.   Ok, I know some readers really do not want to read about tobacco companies but given that it is not illegal, you always have to respect personal choice and – yes, helped by addiction – they offer a pricing power scope (offsetting declining developed market sales) which has supported some wonderful total returns for investors over the last decade or so.  I see Neil Woodford has included a number of sector names in his top holdings for his new venture.