Woodford anyone?
Discussion
Zoon said:
He's not doing too well at the minute.
Depends on one’s perspective. If you’re going to go and stand in the middle of the high street and ask every passer by to kick you in the balls then he’s doing very well indeed. The random thought that crossed my mind is just how long STOB have been sitting on the problem. They’ve got a forced seller of 20% of their company. One just wonders who will end up buying Woodford's holding at this new, much lower price?
If Eddie was still alive and STOB wasn’t just yet another asset stripped business loaded up with cheap debt to flatter the books and increase valuations for the VC then I’d think there was something mildly amusing going on.
Ah, who can forget that game for boring journeys on the motorway - "Stobbies and Nobbies". Only two people can play - one chooses Stobbies and the other gets Nobbies.
Objective: Spotting the most haulage trucks of appropriate brand in a fixed mileage or time.
Stobbies = Eddie Stobart
Nobbies = Norbert Dentressangle
More excitement on this gripping link https://www.theguardian.com/business/2007/aug/15/t...
Objective: Spotting the most haulage trucks of appropriate brand in a fixed mileage or time.
Stobbies = Eddie Stobart
Nobbies = Norbert Dentressangle
More excitement on this gripping link https://www.theguardian.com/business/2007/aug/15/t...
janesmith1950 said:
Point of order; STOB is Stobart Group, which is a different listed entity to Eddie Stobart (ESL).
STOB are a significant shareholder in ESL and licence the brand name to them, but they are not the same thing.
Thanks. I see that STOB hold about 12%. With the correct ticker I pulled up the news via Google and saw this article. I seem to recall this stock cropping up on PH a month or two ago and when Inlooked at its numbers it looked like a dead man walking. It just looks like yet another zombie stock that has been borrowing more and more to make out that it is growing when in fact it’s being sucked dry by the Board and just hoping the cost of debt doesn’t go up and end the party. STOB are a significant shareholder in ESL and licence the brand name to them, but they are not the same thing.
I suppose Woodford got in at the start when there was some positive momentum but by 2017 it seems odd to have stayed in but I guess there are just so many companies which have been synthesising growth via borrowings that it just doesn’t seem unusual these days.
Woodford became pals with Andrew Tinkler (who bought Eddie Stobart Ltd, then did a reverse take over of Westbury PLC, creating Stobart PLC). Tinkler's way of doing business is a bit unconventional, but he always had Woodford on-side. I think Woodford is liable to be blinded by friendships.
Tinkler eventually fell foul of his own methods and was removed from Stobart last year. Woodford supported Tinkler through the ensuing High Court battle, which Stobart won at a canter. It was an example of Woodford picking the wrong side, perhaps out of loyalty to a friend over business sense.
Tinkler eventually fell foul of his own methods and was removed from Stobart last year. Woodford supported Tinkler through the ensuing High Court battle, which Stobart won at a canter. It was an example of Woodford picking the wrong side, perhaps out of loyalty to a friend over business sense.
emicen said:
Woodford owns 0.8% of Amigo.
the boy can’t catch a break right now.
That’s what happens when you go spearing off into what is essentially the venture capitalist sphere, which he clearly knows nothing about. the boy can’t catch a break right now.
He moved so far away from his mandate, it’s borderline criminal.
LeoSayer said:
The fund was what, 20% illiquid?
That means that 80% could have been sold months ago and instead, it's probably been dragged down by recent market movements.
The fund may have been 20% illiquid at one point, but all the capital withdrawals have been taken out of the liquid portion already - so the illiquid part as a % has grown dramatically.That means that 80% could have been sold months ago and instead, it's probably been dragged down by recent market movements.
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