By Chris Bailey | Thursday 16 September 2021
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.
It was back in December 2018 that Nigel mentioned ‘Neil Woodford raising more much-needed cash by dumping good shares’ by selling his stake in Kier Group (KIE), ‘a British construction, services and property group active in building and civil engineering, support services, and the Private Finance Initiative’. I am sure there were a bunch of reasons why Woodford needed the cash at the time, but this decision was not a complete disaster as the shares have fallen over 80% since. If only he could have missed all his other big losing calls! I have not been a great fan of Kier Group and related companies for many years, having seen plenty of sector ‘excitement’ over the past twenty-five years. Suffice to say there were a bunch of reasons why in an industry that can easily be impacted by economic volatility and too much debt.
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