Spruce Point - short, page-25

@Gindaldan..you must have had deep pockets. We bought some more AMC as well, and will take up some of the bank SPPs. Bought (topped up) a couple of LICs, but of course in the depths of the crisis, it’s hard to make wise decisions with second line stocks. Your observations about the banks is a good one, especially is we come out of this “correction” quicker than anticipated. Your observation bout the ETF is also relevant for us and perhaps others. I figured that I wasn’t smart enough or qualified enough to work out which sector or particular company was going to come out of the downturn either first, or in the best shape. For the first time, I bought an ETF, the Vanguard ETF (VAS) which covers the top 300. It pays dividends 4 times a year, more than 1/2 franked, reweighted every quarter and including from 201-300 allows the emerging companies like APT to enter the fund. Sometimes as you have observed, there are sometimes you have to admit that you just don’t know everything and leave it to others and the index.