Ann: Weekly Net Tangible Asset Backing, page-15

fair enough if you want to try and predict the sentiment towards a LIC. i find predicting if and when sentiment will change from discount to premium difficult, so rather than being frustrated waiting for the market to come to their senses, the peace of mind of receiving the true value of the LIC and the fact that it is harder to buy and sell in and out of PAI directly with the company means I'm less likely to take my profits too soon and get spooked by every fear mongering article about chinese SOE debt fears or an imminent chinese housing collapse.

good luck and well done in joining the PAI club, I think it will serve us well over coming years as it has done over the past 18 months for me.