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Even a few of our detractors have now come around
Hello Share Collectors. One of my previous choices with a share price that’s never really caught fire has issued some jolly results for last year. Capita (CPI) is a company that offers computer and digital services to some bumper clients, including our government. The board boasts of ‘A year of significant change with the transformation of Capita now complete: we have established a platform to drive sustainable improving financial performance whilst continuing to strengthen the balance sheet’.
After the excitement of Wednesday’s market moves comes Thursday…which unsurprisingly after the down and up volatility of the last few days is a bit more boring. We could all probably do with it, although a regular bout of volatility is the markets for you (and I would have it no other way). As for today’s corporate updates, two strike me as being particularly noteworthy, Capita (CPI) and DS Smith (SMDS)…
Regular readers will know I am not a fan of Capita (CPI) which describes itself as an ‘international business process outsourcing and professional services company’. When I was growing up, it was a company that started as a small cap, quickly become a mid cap and ended up as a FTSE 100 institutional investor darling. I never purchased it myself, which initially looked stupid, but the mere 86.9% share price fall over the last five years has made me look a bit smarter.
Hello, Share Screeners. When all shares are falling, it’s the ones that buck the trend that fill you with most confidence. There’s just been a big stock market fall, apparently fuelled by renewed fears about the Delta variant. Or maybe it’s just the usual trader’s trick of producing a big fall, so stock can be bought more cheaply. One share which rose despite the odds though was Capita (CPI).
I see that Malcolm mentioned the professional services company Capita (CPI), ‘Learning Curve Could Take the Share Price Higher’. Good luck with that one Malcolm because its numbers today unexcite me, especially when you factor in its significant debt and it is still an avoid for me. Another stock I have avoided for many years is London Stock Exchange Group (LSEG), which describes itself as ‘more than a diversified global financial markets infrastructure and data business’.
Hello, Share Finders. I’m a longish term holder of Capita (CPI). And so far I’ve been disappointed. Actually, a disaster. But new shareholders may now see a decent return on the shares as business picks up after the worst of Covid. Hot press: Capita has signed a ‘learning services’ contract with a big financial services client in the UK.
A couple of decades ago, many investors were amazed by the growth of Capita (CPI). As it happens – after a bit of volatility in the first few years of this century – shares in the ‘international business process outsourcing and professional services company’ peaked out in 2015…and since then have fallen a mere ninety-five percent. Still, at least Capita’s shares have risen a bit since October / November last year.
I start with musings on croquet hoops, something I am geekish enough to comment on, and how it is symbolic of our age. I wander on to consider the craziest job creation scheme in history but one which the mainstream media takes seriously… back to crazy croquet hoops. Then it is news that Capita is closing offices where 15,000 work and the Government’s barking mad plans and pleas to reverse this tide. Finally, the response of Alessandro Zamboni of Supply@ME Capital (SYME) to me terming his company a con and saying he should be in jail. Other than his stupidity in telling an obvious lie, Sam Antar, the king of the fraudsters, would be proud of him.
Hello, Share Miners. Though I normally ignore charts as a way of predicting the future course of shares, I do carry out the simplistic task of seeing where the trend is going – believing that the most useful market cliche is ‘the trend is your friend’. And one share which almost always seems to creep forward these days is Capita (CPI)...
Hello Share Smirkers. When Carillion hit the skids it took my shares with it. But if you take a punt on a possible rally then you can’t blame anyone if it never happens. Not even yourself - if you’ve done a bit of previous research. Which I did. I don’t think I was ever told just how serious the situation was with Carillion.
Hello, Share Snappers. Fools rush in where angels fear to tread. And I’m sure some of my colleagues will apply that to my choice for your further consideration today. Yes, it’s Capita (CPI) - a company which may send shivers up your spine. Even if most of that sensation will come from the collapse of another government contractor called Carillion.
I start by looking at Gewanter vs devout Christian Julie Meyer - please back heroic Henry HERE. Then I cover Arian Silver (AGQ), Pathfinder Minerals (PFP) and its disgraced CEO Nick Trew, Avanti Communications (AVN), Sprue Aegis (SPRP), Capita (CPI), BT (BT), Communisis (CMS) and Frontera Resources (FRR)
Either iii readers are thick and so sent in the daftest softest questions to Neil Woodford or thiis just another blow job paid for interview. Where are the tough questions about disastrous performance, investing in companies that need to break the laws of phsyics, Capita, Provident Financial, The AA, related party deals, RM2, the list goes on and on. If successful fund management is a balance between arraogance and humility it, perhaps, explains why smug Nomates Neil is doing so badly. Get the sick bag ready and watch below...
To be clear, I don’t believe Malcolm has ripped off shareholders in an investment trust he manages by stuffing it full of unquoted stocks to save his bacon elsewhere; however, he does seem to have picked up a few of the “star fund manager’s” bad habits when it comes to a stock, namely Feedback (FDBK).
Shares in Provident Financial (PFG) are falling again today thanks to weekend press reports that it is sounding out investors about a £500 million rights issue. The big question is where does this leave Britain's most conceited fund manager Neil "nomates" Woodford whose funds own 23% of the equity.
As Neil Woodford is such a believer in transparency, he has pulled his monthly updates altogether so these monthly updates now take on a greater importance to provide much needed information to the long-suffering investors in the three funds. Can’t imagine why Woodford stopped them?
Loyal readers will know that I, like Mr Woodford, love a quiz and with my favourite week of the year fast approaching, I thought I’d run a (simpler) quiz with a Cheltenham-related prize. There’s only two questions, so I’m hoping for more than one entrant this time!
CityAM announced earlier this week that Woodford’s Equity Income Fund had lost a billion quid in funds since the start of the year down to £7.2 billion. This has huge consequences for all his funds and I’m not sure he has enough arms to suppress all the troublesome blind burrowing mammals raising their heads above ground. For the avoidance of doubt, I am referring to metaphorical moles at this point rather than Woodford’s investment diligence team. Let me explain.
Hello, Share Plungers. Much as it makes me uncomfortable to contradict the mighty wisdom of my fellow scribe here, Lucian, I have to disagree with his advice against bargain-hunting Capita (CPI).
You will have read our detailed coverage of Neil Woodford's woes and especially those of his uber dog listed investment company Woodford Patient Capital Trust (WPCT). Our sell advice has saved our readers thousands of pounds. But we believe in balance and so below is the advice of The Times Tempus column which is to buy. It is poorly researched - compare its coverage of Atom Bank with ours HERE) for instance and reads as if it was dictated by a PR person as is so often the case with the stinking carcass that is the deadwood press. Here goes...
One of Warren Buffett’s favourite maxims is to be greedy when others are fearful and fearful when others are greedy.
I note that for the first time the NAV of the Woodford Income Focus Fund (C Accumulation Units) has fallen below the 100p launch and that includes 3 reinvested dividends.
Capita was last week's main disaster for Neil Woodford although there were others. He has tried to polish the turd HERE but has failed. His next disaster is Prothena which could slump Monday and as I explain in this podcast it is massive for Nomates. I then explain how the whole Woodford empire could well collapse. Make no mistake, this weekend, Britain's most conceited fund manager is staring into the abyss. I also comment on Obtala - take up the Primary Bid offer HERE - and on my wife's failings as a navigator as I march through muddy puddles.
Neil Woodford has published his thoughts on Capita (CPI) after its share price halved. To put it bluntly Neil Woodford is yanking the chain of his long suffering investors. In paragraph three he states: "Putting the share price reaction to one side for a moment, I am pleased that we have seen from the company what we thought would be coming". As a reminder, Capita has scrapped its dividend. Yet on 19 January Nomates opined:
As we have seen with the debacles at Provident Financial, Capita and elsewhere, Britain's most conceited fund manager, Neil "Nomates" Woodford likes to bet - other people's money - against the herd. A share price is tanking, the market must be wrong. The bears are adding to their shorts. They must be wrong too. Nomates always knows best, I demonstrated this with a chart looking at Capita (CPI) the other day HERE. Now I offer up three more Woodford dogs...
I realise that there may be a spot of nervousness in the market at the moment – especially in the wake of disasters at Carillon and Capita. Does that explain why shares in fully-listed Interserve (IRG) are off by 15% today, with no RNS announced?
My conclusion to The Big Short series over Christmas was that although it was a long-term play, Neil Woodford was only a few pieces of “bad luck” away from a speedier, more dramatic implosion. This week’s Capita (CPI) news is the second of those already and we’re only one month in. Further to the excellent pieces on Capita yesterday (HERE and HERE), a few further observations on the wider Woodford story from me.
Hello, Share Tweakers. As my wise colleague Gary Newman said last year, it can be a wizard policy to invest in a big company which hits a bad patch. I think the reasoning is that the sell-off is usually overdone and that a big company has the resources and experience to rectify mistakes.
Capita (CPI) is the latest high profile catastrophe for Britain's most conceited fund manager, Neil "Nomates" Woodford. Before we go to a chart of shame, a couple of choice quotes from his December montjhy excuse-sheet, sorry fact-sheet, published on 19 January
Is it that it is the organisation that threatens poor people ( and disproportionately women) with jail if they don't pay the BBC poll tax so that very rich women can get pay rises? Or that Neil Woodford is such a big shareholder and has said so many funny things about what a great investment this is? I discuss the woes of Capita (CPI). I also look at Rosslyn Data (RDT), and its interims which are out today and show that it is 100% fecked. I discuss the Ariadne bombshell of today and the red flag lessons for those who buy shares in listed companies. And remember today is tax deadline day!
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…
As I anticipated in my RM2 International (RM2) piece yesterday, the December monthly updates finally came out yesterday afternoon and I thought it appropriate to provide monthly updates on The Big Short in conjunction with those each month so here goes. Quick summary: it’s not getting any easier for Woodford.
At 2 PM yesterday, Capita Registrars signed off on a shareholder list at that point as being those who could vote at Friday's GM called to oust fat cat bosses Professor Richard Conroy and his henchwoman Maureen Jones from Conroy Gold & Natural Resources (CGNR). Shortly before 2 PM the Professor called Capita and added 500,000 shares to the register - probably enough to swing the vote. What he has done is wholly illegitimate and must be reversed at once if Capita, Nomad Allenby and AIM Regulation give a damn about their own rules and common justice.
Hello Share Poppers. I am doing rather well financially at the mo. And it’s my guess you are, too. So let’s stop moaning and try to enjoy life a bit more. I’ve pushed across some of the spare dough with my brokers into my current account as I intend to spend a little more on myself.
I start this podcast with a look at Avanti Communications (AVN) where I hope you ignored the ramblings of snot gobbler's colleagues at the FT and stayed short. 0p is still looking likely and I discuss the problems IIs face today. I look at Arian Silver (AGQ), a dog with fleas which has served the fat useless bastards on the board and its crony capitalist advisers well as punters have been shafted year after year. I look at Northern Petroleum (NOP) where today's dismal results tell you that it is placing ahoy AGAIN, at Petropavlovsk (POG), Galantas (GAL), Boxhill (BOX) and at Capita (CPI),
