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. 

Yesterday I highlighted the numerous issues which make Diversified  Gas & Oil (DCOG) the most overvalued oil stock on AIM.  The crux of the issue is that its freported profits since IPO have been generated almost entirely from aggressive accounting as opposed to producing hydrocarbons. I believe its accounts breach IFRS 3 and must therefore be completely restated which will wipe out nearly all of its retained profits. Let me explain. 

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.

Hello, Share Strummers. Time for another look at Photo-Me (PHTM) methinks. Uncle Tom once described this as my favourite share. But that was in the old days when the share made a steady climb towards the 170p mark. I took back my loyalty when the stock started to decay. And it eventually dropped to 80p-ish. Today it's about 92p...

Online electrical retailer AO World (AO.) has announced results for its year ended 31 March 2019, commencing by emphasising; “Continued revenue growth in both the UK and Europe with total revenue for the period increasing by 13.3% to £902.5m”. The shares have responded, er… further lower towards 100p…

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!

Previously writing on Gooch & Housego (GHH), in April I stated announces “in line with management's expectations”… but not with expectations less than 6 weeks before the period-end!. On half-year results, the shares are though further materially lower today…

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.

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 “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%.

I take my hat off to a chap who has created the blog Oarfish Research for he is a truly talented individual who has produced some spectacular research on £878 million capitalised ( at 126p) AIM listed Diversified Gas & Oil (DGOC).  Reading Mr Oarfish’s truly spectacular analysis I can only conclude that this company is monumentally overvalued. It could be the most overvalued stock on AIM.

On a recent podcast, @TeslaCharts, a prominent and distinguished member of the Tesla (NASDAQ - TSLA) bear community on twitter known as $TSLAQ, described the ingredients needed for the Tesla phenomenon as the Barbershop Quartet, which I thought aptly describes not just Tesla but the investment climate which we have, until recently, taken for granted...

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:

Hello Share Makers. A company which I often return to because I think the potential is enormous is Avacta (AVCT). This is a Leeds-based medical pioneer which is developing artificial antibodies in the treatment of many serious conditions. The shares have just jumped on plans for a major study...

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.

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.

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?

For those who have a religous faith, be it Christian like mine, or any other, would you please pray for my son Robin’s next door neighbour in York.

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

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.