By Cynical Bear | Friday 22 December 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I started my festive series on The Big Short, namely Woodford Patient Capital Trust (WPCT) earlier by providing some wider context about some of the challenges Woodford faces particularly with his flagship fund, the Equity Income Fund, but let’s get into the details of WPCT itself. I’ll start with the ever increasing size of its unquoted portfolio and what appears to me to be a massive conflict of interest.