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  1. #1

    Woodford Patient Capital Trust - Sell or Wait?

    I bought into the hype back in 2015 and bought about 10K worth of shares in the Woodford Patient Capital Trust. They've lost 25% since then.

    I've debated selling but was hoping that patience would pay off.

    Since then the share value has dropped by another 5% and I"m stuck as to whether I should accept a 2.5K loss and look elsewhere for gains (Fundsmith, or SMT (which I put the same amount into and has doubled).

    Any thoughts?

  2. #2
    I watched an interview with Woodford recently in which he seemed to be saying that the markets had it all wrong and he was maintaining his investment discipline. Complete and utter self-delusional tosh. What kind of investment discipline makes you buy a huge chunk of Capita shares months before it tanks when the company clearly had long standing structural issues?

    I don't believe the hype about his investment style coming good in the end - Capita is just one of several examples of plain bad investment decisions Woodford has made with Patient Capital.

    If you are seeking an alternative aggressive growth fund I'd be inclined to look towards Asia Pacific or Japan in the current climate.

  3. #3
    WPCT has never held Capita

  4. #4
    This is flagged up as a speculative buy at the moment (Money Observer and others). It’s sitting unloved and is cheap. It won’t cheer you up, but it may be worth holding to avoid the hit.

  5. #5
    The problem with doing nothing is that it will take a significant increase in the sp to recover the loss. If you have faith in the longer term prospects of the fund then this may be an opportunity to lower your average buy-in price. Otherwise, cutting the loss may be the better alternative.

    Some of us on this forum are fans of 'The Art of Execution' - it's a quick read and is excellent at helping to address exactly this situation.

    For myself, I sold WPCT some time ago and am not currently planning to buy back in, but some pundits are starting to recommend it as a contrarian play.


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