Reality check 2, page-35

I guess the bottom line with ANY share, including LICs is that the laws of supply and demand will always prevail. And LSF is no different. A profitable and well run company will make good profits and be eagerly sought by buyers. Conversely, what is perceived to be a poorly run company will be deserted by holders and there will be a net sell, leading to a falling SP. Management can do any variety of “tricks” to enhance the SP and keep things under control or at least on a level playing field which may stabilise an “out of balance” situation ; BUT There is no substitute for a well run and profitable company with hopefully increasing profits and a reliable earnings stream which will undoubtedly see a rising SP.
Perhaps the “reliable earnings” is the stumbling block ? Along with an individual investors tolerance to risk !