Woodford Flagship Fund to Close

The video discusses the liquidity issues faced by a fund manager, Woodford, who struggled to meet redemption requests due to illiquid positions. This problem, while specific to Woodford, reflects a broader industry issue, with regulatory bodies like the FCA investigating. The video also explores Woodford's career shift from large to small cap investments, which contributed to his challenges. Despite these setbacks, there is speculation about his potential comeback, possibly managing his own money.

What does Mark Carney mean when he says that funds investing in illiquid assets that offer daily liquidity are built on a lie?

What are the potential consequences for Woodford's future in investment management?