NoHPCinTheUK Posted June 4, 2019 Share Posted June 4, 2019 We need to delay Crossrail further I suppose.... Woodford is in the wrong place, wrong time and wrong sectors. I’m sad for those who have their money there. This isn’t just a guy making the wrong bets, part of his offering was in unlisted companies but still under UCITS umbrella. Crazy. SJP and HL marketing this to clients....even worse. Quote Link to comment Share on other sites More sharing options...
Council estate capitalist Posted June 4, 2019 Share Posted June 4, 2019 (edited) Looking at the top 10 holding in the suspended fund. 3 are housebuilders, 1 is a REIT called Newriver that invests in retail/leisure property. It's one of the most shorted stocks in the UK. It's currently selling supermarkets and buying higher yield retail parks. Solid business model that. Edited June 4, 2019 by Council estate capitalist Quote Link to comment Share on other sites More sharing options...
Will! Posted June 4, 2019 Share Posted June 4, 2019 On 30/05/2019 at 11:06, Neapolitan said: Neil Woodford next one? It looks to me that QE rendering all the usual investment opportunities such poor value led Woodward to take increasingly risky bets to maintain his famous rates of return. Quote Link to comment Share on other sites More sharing options...
Houdini Posted June 4, 2019 Share Posted June 4, 2019 17 minutes ago, Will! said: It looks to me that QE rendering all the usual investment opportunities such poor value led Woodward to take increasingly risky bets to maintain his famous rates of return. He also made stupid decisions - someone elsewhere says he destroyed pharmaceutical research in the UK be investing so much no-one else could be anything except a junior partner with him. Quote Link to comment Share on other sites More sharing options...
NoHPCinTheUK Posted June 4, 2019 Share Posted June 4, 2019 31 minutes ago, Will! said: It looks to me that QE rendering all the usual investment opportunities such poor value led Woodward to take increasingly risky bets to maintain his famous rates of return. It’s not QE, it’s Woodford. Lindsell Train UK Equity fund is a little gem. Royal London, Franklin and M & G, to name some big shop on the street, are all around their benchmarks. Quote Link to comment Share on other sites More sharing options...
NoHPCinTheUK Posted June 4, 2019 Share Posted June 4, 2019 Do not invest in anything with an open-end structure and with unlisted companies in the portfolio. You could realise soon that there’s no market for that part of the holdings. Quote Link to comment Share on other sites More sharing options...
Errol Posted June 4, 2019 Share Posted June 4, 2019 You would think people with money in other funds (not connected to Woodford) might also be considering taking money out now. Before they are gated. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 I'm going to add one to the list of ones to watcg.... FundingCircle. I noticed a while back they were sending adverts out offering various incentives to anyone who'd invest.... That made me sit up. I then started selling up my small investment there... Length of time to sell was 31 days, by the time I'd sold up its 59 days, could just be a busy time of years of course. 30% of my investment changed status while i was selling up.... So couldn't be sold. I'm happy enough that i got most of my cash out but it seems a bit... Risky to me from what I am seeing. Anyone else dealing with FC? On the upside the government part funded them so I'd think they'll be on the hook if the fail. Quote Link to comment Share on other sites More sharing options...
Houdini Posted June 5, 2019 Share Posted June 5, 2019 (edited) 7 minutes ago, TheCountOfNowhere said: I'm going to add one to the list of ones to watcg.... FundingCircle. I noticed a while back they were sending adverts out offering various incentives to anyone who'd invest.... That made me sit up. I then started selling up my small investment there... Length of time to sell was 31 days, by the time I'd sold up its 59 days, could just be a busy time of years of course. 30% of my investment changed status while i was selling up.... So couldn't be sold. I'm happy enough that i got most of my cash out but it seems a bit... Risky to me from what I am seeing. Anyone else dealing with FC? On the upside the government part funded them so I'd think they'll be on the hook if the fail. Which reminds me I need to pull my money from Zopa and put it elsewhere - just looked at my account and I've not earnt a penny since February. Edited June 5, 2019 by Houdini Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 (edited) . Edited June 5, 2019 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 I'm still in zopa. Not seeing any shenanigans with them. Are you? They survived the 2007 collapse so less worried about their lending model. FC is business centric. I'm going to leave some cash in FC just to see what happens if it fails, the debts will still be there and will be pursued. I'm a part time evil banker it seems. I'm now pulling £1k out of zopa to see what happens.... I'll keep you posted Quote Link to comment Share on other sites More sharing options...
longgone Posted June 5, 2019 Share Posted June 5, 2019 what`s the return rate on zopa nowadays i had a grand in there back in 2009 ! took it out in the end Quote Link to comment Share on other sites More sharing options...
Houdini Posted June 5, 2019 Share Posted June 5, 2019 1 minute ago, TheCountOfNowhere said: I'm still in zopa. Not seeing any shenanigans with them. Are you? They survived the 2007 collapse so less worried about their lending model. FC is business centric. I'm going to leave some cash in FC just to see what happens if it fails, the debts will still be there and will be pursued. I'm a part time evil banker it seems. I might pull out a few hundred quid out of zopa to see what happens tho. It's more the fact my returns have dropped to zero recently due to defaults so I'm wondering if it's time to get out before things turn really bad. looking at https://investors-performance.zopa.com/ I'm seeing things flatline... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 2 minutes ago, longgone said: what`s the return rate on zopa nowadays i had a grand in there back in 2009 ! took it out in the end I was getting 4%+,will check again tho after houdinis coment. Quote Link to comment Share on other sites More sharing options...
longgone Posted June 5, 2019 Share Posted June 5, 2019 19 minutes ago, TheCountOfNowhere said: I was getting 4%+,will check again tho after houdinis coment. sure it was around 7-8% then i would not risk large sums for only 4% Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 9 minutes ago, longgone said: sure it was around 7-8% then i would not risk large sums for only 4% Here are the figures... Core: at 6.2% projected returns 4.4% Plus: at 7.5% projected returns 5% Classic: 4% Plus I get a 1% bonus for being one of their first lenders. Returns of around 33% on 20k over 6 years when I really started using it....if I get my money out. I see this as the risk part of my holdings. Quote Link to comment Share on other sites More sharing options...
regprentice Posted June 5, 2019 Share Posted June 5, 2019 I read today that new fca rules are coming in where investors who have not received any financial advice cannot save more than 10% of their cash into p2p lending. How on earth are they going to police that? https://www.fnlondon.com/articles/fca-introduces-retail-investment-cap-in-p2p-clampdown-20190604 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 By way of a metric as to what is happening on FundingCircle... Number of loan issues. Per year. 2016...2 2017...2 1st half of 2018...0 2nd half of 2018....9 1st half of 2019....wait for it.... Wait for it...25. This is not advice, but I'd personally be nervous leaving my cash in there. Well, I was nervous and the bulk of it is out, not sure I'll see the rest. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 P. S most of the struggling loans are property based. If this is anything to go by the market is collapsing. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 Pps... Plenty "guarantors' being chased. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 5, 2019 Share Posted June 5, 2019 Ppps .. Thats made me nervous enough to bail on zopa too. Quote Link to comment Share on other sites More sharing options...
Council estate capitalist Posted June 5, 2019 Share Posted June 5, 2019 (edited) I've seen many crap businesses go to the wall and looking at the statement of affairs (document filed to companies house listing creditors) Funding circle is often the biggest creditor. In a small town local to me Funding circle lost £10.5k on a loan to a company that had "vibrating massage chairs" that purported to ease the symptoms of depression/arthritis etc etc. Edited June 5, 2019 by Council estate capitalist Quote Link to comment Share on other sites More sharing options...
simvastatin Posted June 5, 2019 Share Posted June 5, 2019 1 hour ago, TheCountOfNowhere said: P. S most of the struggling loans are property based. If this is anything to go by the market is collapsing. Yes, I have noticed that as well, I wonder if this is the crash you have been waiting for since 2007 Quote Link to comment Share on other sites More sharing options...
simvastatin Posted June 5, 2019 Share Posted June 5, 2019 42 minutes ago, Council estate capitalist said: I've seen many crap businesses go to the wall and looking at the statement of affairs (document filed to companies house listing creditors) Funding circle is often the biggest creditor. In a small town local to me Funding circle lost £10.5k on a loan to a company that had "vibrating massage chairs" that purported to ease the symptoms of depression/arthritis etc etc. Did they ever ask for collateral for the loan Quote Link to comment Share on other sites More sharing options...
Council estate capitalist Posted June 5, 2019 Share Posted June 5, 2019 5 minutes ago, prozac said: Did they ever ask for collateral for the loan Not against the company. They might have got a personal guarantee/charge over the directors home. The liquidators were unable to collect £2k from the director's loan but Fundingcircle might have a better collections department who knows. Quote Link to comment Share on other sites More sharing options...
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