WAM trades at a premium because they've beaten all indices and other managers over a 15 year + period despite holding large cash holders for much of that time and not leveraging. The LIC model is far superior to fund managers for investors who want to invest for the long term (assuming the LIC manager is fair/reasonable as per Wilsons).
The LIC structure lets the manager buy (rather than sell) when the herd dump their holdings at the bottom of the market. More sophisticated holders simply pick up the quality shares in quality businesses or LIC's at a discount to NTA and profit from the herd's mistakes. It's what I did in 2009 to make mega profits over 09/10/11 ... and I'm sort of hopeful that many more idiots will continue to follow the herd and give me multiple chances for further profit!
Greatly overvalued, page-18
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Last
$1.50 |
Change
-0.010(0.66%) |
Mkt cap ! $1.664B | |||
| Open | High | Low | Value | Volume |
| $1.52 | $1.52 | $1.50 | $1.120M | 743.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2243 | $1.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.51 | 9176 | 1 |
View Market Depth
| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| WAM (ASX) Chart |