Ann: Investment Report & NTA Update - April 2018, page-30

Yeah but how would the average punter be able to define emerging companies better than professional investors. They have no chance, and therefore have no chance of having a better view of their stocks in the portfolio. Mate i'm not saying i'm any better than anyone. But i reckon i've met more fund managers than 99% of anyone on hot copper. average punters have no chance of beating those managers, and if they do, they got lucky.
I am happy to be the only person on his board to say NAOS will come good.
The stock price is in decline but go easy but they can't much help that. The NTA hasn't moved that much i don't think, so it's really just punters being too short term and capitulating when the stock price goes down. the NTA will be an undenyable fact and when they start outperforming longer term, that discount will close. They've been managing this LIC for 7 months, that really is market noise.
I am in at 75c. Otherwise generally i'm just out of the market mostly. Too risky right now, and i am paying off my mortgage!