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BREAKING: Morningstar downgrades Woodford’s Suspended Flagship Equity Income Fund again, to Negative
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.
- By Nigel Somerville |
- 6 June 2019, 09:50 |
Seeing Machines – “Senior Leadership Transition”. So orderly then?
A “Senior Leadership Transition” announcement from computer vision technology company Seeing Machines (SEE). So orderly then? Announced intra-day at 1:03pm. Hmmm…
- By Steve Moore |
- 6 June 2019, 09:49 |
Will the London Commercial Property Market Hold Up? This FTSE-250 Giant Hopes So
Hello, Share Fans. You may know that I’m a fan of property companies, or at least of their mid-term prospects. But that is mainly for housing, where supply still has problems competing with demand. However, office and shop properties are not sectors that thrill me. Which brings me to Great Portland Estates (GPOR). I wish the company well, but foresee possible headwinds in the office and retail rental game...
- By Malcolm Stacey |
- 6 June 2019, 09:22 |
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A Dog Day for Neil Woodford - how long before Woodford Investment Management is toast?
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….
- By Nigel Somerville |
- 5 June 2019, 18:23 |
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Tom Winnifrith Bearcast: Hey dumbfuck clients of Cenkos give me $225m and I'll offer you a 10% yield
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!
- By Tom Winnifrith |
- 5 June 2019, 17:00 |
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70 Page Dossier from the Dark Destroyer Matt Earl takes apart Kerry Group
Shadowfall, the company run by bear raider Matt Earl, the "Dark Destroyer" has today published a 70 page dossier on 18 billion euro capitalised Kerry Group (KYGA). It is a pretty devestating analysis. The report can be accessed in full below.
- By Tom Winnifrith |
- 5 June 2019, 14:49 |
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An Open Letter to Susan Searle at WPCT No 2 – Neil Woodford must be fired now to save our company
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:
- By Tom Winnifrith |
- 5 June 2019, 13:53 |
K3 Capital – “very pleased” at the upper end of prior guidance… but what was that guidance again?...
Business and company sales group K3 Capital (K3C) has updated commencing, “The board is very pleased to report that adjusted EBITDA is expected to be at the upper end of the market guidance provided in the recent trading update on 5 April 2019”. Hmmm – adjusted EBITDA and why not remind of what that prior ‘market guidance’ was?...
- By Steve Moore |
- 5 June 2019, 12:10 |
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Provident Financial – failure squared from man of the moment Neil Woodford
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!
- By Chris Bailey |
- 5 June 2019, 11:15 |
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Eqtec is drowning in debt - will it ever issue an update with any real substance?
Regular readers of Share Prophets will know that I’m not exactly a fan of Eqtec (EQT) and have been far from convinced by all the very vague news releases coming from the company, and that opinion certainly hasn’t changed as it seems to provide even less these days by way of actual exact details.
- By Gary Newman |
- 5 June 2019, 10:45 |
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Shocking New Neil Woodford video: stumbling, incoherent, in parts misleading
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.
- By Tom Winnifrith |
- 5 June 2019, 10:14 |
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Diversified Gas & Oil Reported to FRC – IFRS 3 why its accounts are a joke and need mammoth restatement
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.
- By Tom Winnifrith, The Sheriff of AIM |
- 5 June 2019, 09:35 |
Dear Kent County Council…….
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.
- By Nigel Somerville |
- 5 June 2019, 09:25 |
Flash Bang Wallop Photo-Me is Still Strong and its Weakened Share Price Might Just Recover
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...
- By Malcolm Stacey |
- 5 June 2019, 09:24 |
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AO World – “more excited than ever about the future”. Hmmm…
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…
- By Steve Moore |
- 4 June 2019, 17:10 |
Woodford - how the mighty have fallen: Pheonix Spree RNSs to say Neil DOES NOT hold!
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!
- By Nigel Somerville |
- 4 June 2019, 16:30 |
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Gooch & Housego – “dividend increased… reflective of the directors' confidence in the business going forward”. Er…
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…
- By Steve Moore |
- 4 June 2019, 15:02 |
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Tom Winnifrith Bearcast: Let us all take a minute to feel sorry for Neil Woodford...only kidding
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.
- By Tom Winnifrith |
- 4 June 2019, 12:42 |
ShareProphets readers tips for 2019 competition – end May update
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)...
- By Steve Moore |
- 4 June 2019, 12:20 |
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Neil Woodford – let the carnage commence: Card Factory
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%.
- By Nigel Somerville |
- 4 June 2019, 12:18 |