JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Feb 9, 2021 9:56:19 GMT
Following the Woodford debacle and large drop in share price, in June 2019 I foolishly bought shares in Woodford Patient Capital Trust as a gamble, thinking the large discount gave the possibility of future gains. I was soon facing a loss of over 50%. Last year the Trust was passed to Schroders and became Schroder UK Public Private Trust plc.
In November I read all the latest information on their web site about the strategy and underlying investments and decided that the trust looked good value now and the large discount was no longer justified. I bought about 3 times the amount of my original investment hoping to eventually recover what I had lost so far. 3 months later I am now 13% up over all as the share price has increased considerably since November while the new managers have made lots of progress.
I know I have been very fortunate to come out of this stupidity with a gain and will not be tempted again.
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daveb
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Post by daveb on Feb 23, 2021 20:38:25 GMT
Think of those poor people that were in from the start, had the chance to sell out at a premium, didn't and are now nursing losses of about 63%
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michaelc
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Say No To T.D.S.
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Post by michaelc on Feb 23, 2021 21:51:59 GMT
Forgive me Father but when I saw the Northern Crock plummet some years ago I thought it surely can't fail and is only a matter of time before it will rise up again. 100% loss.
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JamesFrance
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Post by JamesFrance on Feb 24, 2021 16:06:00 GMT
That reminds me of the single Pep I invested into in 1995. It was called the Legg Mason Hy 1 and held the second highest yielding share in the FTSE 100, this was a Slater theory of investment success and also produced the Hy 5, another dog.
The first it chose was British gas, then changed to Blue Circle 3 years later, then Tate and Lyle, by which time the original £3000 had grown to £6000, however by 2001 it's value had shrunk to below £4000 and it was exchanged for Marconi which was about to go bust.
My other Pep disaster was also down to Legg Mason and Slater, it was called the UK Opportunities Trust/Slater Growth Trust and managed to turn £6000 into £2000 in 6 years from 1998 to 2004.
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mrdc
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Post by mrdc on Feb 24, 2021 17:56:58 GMT
I bought vodafone at what i thought was a bargain price.
41% down to date and still unsure whether to hold for the still acceptable divs or take a loss and trade for something else.
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jonno
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nil satis nisi optimum
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Post by jonno on Feb 24, 2021 19:24:53 GMT
That reminds me of the single Pep I invested into in 1995. It was called the Legg Mason Hy 1 and held the second highest yielding share in the FTSE 100, this was a Slater theory of investment success and also produced the Hy 5, another dog.
The first it chose was British gas, then changed to Blue Circle 3 years later, then Tate and Lyle, by which time the original £3000 had grown to £6000, however by 2001 it's value had shrunk to below £4000 and it was exchanged for Marconi which was about to go bust.
My other Pep disaster was also down to Legg Mason and Slater, it was called the UK Opportunities Trust/Slater Growth Trust and managed to turn £6000 into £2000 in 6 years from 1998 to 2004.
Bloody hell James! I had exactly the same ! I remember BTR was also one choice.Oh well, nice to know I wasn't the only pillock 
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JamesFrance
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Post by JamesFrance on Feb 25, 2021 7:58:03 GMT
Yes, having watched the Slater Growth Trust at the bottom of the performance tables for years I have been surprised to see that Mark Slater is still managing large amounts of other people's money. Success or failure does not seem to mean anything in the fund management business. I think most of the financial services industry just rips off the public. There is a current case of a German property company losing large amounts of people's savings which they were told to invest there by financial advisors. So obviously unsuitable but paying large commissions.
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Post by nooneere on Feb 27, 2021 15:41:51 GMT
Yes, having watched the Slater Growth Trust at the bottom of the performance tables for years I have been surprised to see that Mark Slater is still managing large amounts of other people's money. Success or failure does not seem to mean anything in the fund management business. I think most of the financial services industry just rips off the public. There is a current case of a German property company losing large amounts of people's savings which they were told to invest there by financial advisors. So obviously unsuitable but paying large commissions. Slater Growth Trust is currently ranked 9/237 funds in the UK All Companies sector over 1 year, 5/237 over 5 years, and has a well deserved 5 crown rating on FE Trustnet www.trustnet.comWhat on earth are you talking about?
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JamesFrance
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Post by JamesFrance on Feb 27, 2021 16:15:24 GMT
Yes, having watched the Slater Growth Trust at the bottom of the performance tables for years I have been surprised to see that Mark Slater is still managing large amounts of other people's money. Success or failure does not seem to mean anything in the fund management business. I think most of the financial services industry just rips off the public. There is a current case of a German property company losing large amounts of people's savings which they were told to invest there by financial advisors. So obviously unsuitable but paying large commissions. Slater Growth Trust is currently ranked 9/237 funds in the UK All Companies sector over 1 year, 5/237 over 5 years, and has a well deserved 5 crown rating on FE Trustnet www.trustnet.comWhat on earth are you talking about? I am talking about 1998 to 2004 when I had the misfortune to hold a Slater Growth Trust, not the same as the fund now listed and a complete disaster for investors.
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Post by nooneere on Feb 27, 2021 16:20:45 GMT
Slater Growth Trust is currently ranked 9/237 funds in the UK All Companies sector over 1 year, 5/237 over 5 years, and has a well deserved 5 crown rating on FE Trustnet www.trustnet.comWhat on earth are you talking about? I am talking about 1998 to 2004 when I had the misfortune to hold a Slater Growth Trust, not the same as the fund now listed and a complete disaster for investors.
Well that needed to be made clear because as it stands your post was slander, wasn't it?
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JamesFrance
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Post by JamesFrance on Feb 27, 2021 17:07:24 GMT
nooneere certainly not, if you bothered to read the whole thread you would see it described as being the Legg Mason fund which had it's name changed when they appointed a new manager.
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Post by nooneere on Feb 27, 2021 20:19:55 GMT
nooneere certainly not, if you bothered to read the whole thread you would see it described as being the Legg Mason fund which had it's name changed when they appointed a new manager. Mark Slater is one of the most successful 21st century UK fund managers www2.trustnet.com/managers/factsheet/mark-slater/ima-utoeic/O/00000121NM/ and clearly has not been at the bottom of the performance table for years as you stated - rather the complete opposite! You can't make contrary-to-fact slanderous comments like that unless you are Rudy Guiliani.
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JamesFrance
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Post by JamesFrance on Feb 28, 2021 8:22:36 GMT
nooneere I see you have edited your post to remove the comment that I was confusing Mark Slater with his father and the pedantic comment about my incorrect use of it's, it is 65 years since I finished my schooling.
As I said before the Johnson Fry pep I put £6000 into lost me £4000 by the time I eventually liquidated it, as it never recovered. The following link shows some of the history of the fund.
I take your point that he has had more success lately but this was my worst performing investment.
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