re; patience and wait, page-33

I knew a financial adviser (a really ordinary one) who would advise his clients to sell FKP - as "they are trading at below 50% of NTA - there is obviously something seriously wrong that we don't know about!" (I think it is something wrong that we do know about).

It is possible somebody stretched themselves to take up their entitlement and got into trouble. Maybe an institution for whom FKP is now outside their mandate. It is also possible there is inside info that we don't know about - but it would have to be very bad and a big surprise to wipe out more than 50% of NTA.

Some fun and games with other people's money?

Probably other reasons too. Cap Raise overhang and stop losses recirculating bottom picking sellers on the way down.

Maybe something has started killing lots of our senior citizens? ;-)