Thanks to Winnileaks I have obtained an explosive document prepared by Neil Woodford in January 2018  in which he answers questions put to him by Old Mutual for whom he – at the time – managed a value fund. I publish it in full and it is explosive in part because Woodford – for once – shows a degree of honesty in what he says. And that makes it all the more damning. If the FCA can be bothered to read this it explains in a nutshell why Neil Woodford should never again be allowed to manage other folk’s cash.

Thanks to Winnileaks I have been sent photos from the car park at Woodford Investment Management which are truly revolting and show exactly the sort of vile individual Neil Woodford is.

Woodford Investment Management (WIM) has finally released its accounts to March 2020 – they were published by Companies House some two and a half weeks late. Tut-tut. But that is the least of the worries here. In part one I discussed Neil Woodford and Craig Newman with their tasty £1.5 million payout as they emptied the coffers on the eve of flagship Woodford Equity Income fund being gated. In part two I look at the rest of the accounts, and wonder where the auditor went.

In his soft interview with Lucy Barton of The Daily Telegraph on 13 February of this year, we are told that Neil Woodford claimed: From the moment of the fund suspension Craig [Newman, his sidekick] and I received absolutely no income, or dividends or any remuneration from Woodford Investment Management, none, and indeed haven’t received any for the best part of two years. The accounts of Woodford Investment Management for the year to March 2020 are now out (two and a half weeks late). So was the disgraced fund manager telling a whopping lie? What do you think?

It seems that Neil Woodford and his side-kick Craig Newman are being somewhat tardy in filing the latest set of accounts for Woodford Investment Management for the year to March 2020 at Companies House, for they were due by 31 March and are now marked as late. What are they hiding?

Lucy Burton of the Sunday Telegraph will this morning be celebrating her scoop of the year. It may win her prizes such is the corruption of modern journalism. In a faustian deal she gets to break the news that disgraced and crooked fund manager Neil Woodford is planning a comeback. In return she publishes a blow off interview in which Woodford paints himself as the victim of what happened, tells blatent lies and those lies go unchallenged. This is not journalism it is revolting PR ands Ms Burton should be drummed out of the industry. She won’t. She will be praised and promoted. And the deadwood press wonders why it is ever less trusted and its reader numbers slide?

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. 

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.

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.

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”…

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.

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.

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”…

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.

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)?

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.

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!...

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.

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.

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...

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.

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…

In short it all depends on the greed of Neil Woodford himself. Let me explain.

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:

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…

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...

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…

“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…

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…

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…

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.

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...

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:

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.

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.

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?

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.

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”…

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…

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…

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?...

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.

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).

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…

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...

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.