cho, page-63

"Another point of note, cho did a 5 for 1 security split in 04, valuing the security at 3.99 if not mistaken."


Yes, the stock was / is illiquid and they probaly felt that a share price close to $20 back then added to the illiquidity.

Perhaps there was also a bit of marketing involved for the masses who think that unless a share is under 10 cents its overvalued ... hehehehe....

Personally I cant see the benefit, because nobody in their right mind would buy into a LIC with a view to trade it.

Buffett has the right idea. Let your share price go to $100,000 and make people invest for the right reasons.
Its either a good investment or it aint.