I am considering buying FOR, page-4

@goodie.... have a look at the last quarterly podcast/video from Karl Seigerling of CDM. He was also wealth destroying by having 18% of the fund in one stock ARQ which went South. In March he was 60% in cash and I think the SP was 37 cents (without looking....) the SP was less than the cash he had in the bank and the remaining 40% consisting of stocks came for free ! In that video he also declared a “Mea culpa” and has to a degree turned the fund around to the point where I topped up. BUT the difference with FOR and CDM is the quality of the portfolio. steve is a bottom trawler hoping that things will change. That’s fantastic If they do, but dangerous if they don’t ! Better to have better quality portfolio and to pick the stocks that are temporarily out of favour, than to buy potential turn around stocks, that don’t.
I have FOR, but I have heaps more faith in other managers that appear to have learnt their lesson, faster than Steve. The trouble is that it’s my money he’s learning with !