An evil PR spinner has had words with underperforming fund manager Neil "Nomates" Woodford, aka the most arrogant bastard in the City. Until now the line was "I am right the market is wrong, its business as normal." Now Nomates has recorded a video in which he says that he is sorry for the underperformance of his funds. Perhaps it is the fact that he has seen folks yank a net £350 million out of his £10 billion CF Woodford Equity Income fund in recent weeks that has caused the contrition. If redemptions continue on that scale, Woodford will be forced into some hurried share sales which will only compound his woes. The trouble it that Woodford patently does not feel sorry.
on ShareProphets | Comments