Carlton Investments, page-4

I sold all hotels and tourist holdings in March 2020 as the sky was falling in. I held a fair number of EVT but also a few others. Recently I decided that Covid was now one of the illnesses you can contract and life including travel was on the cards again.

In looking at whether to invest in EVT directly I did an exercise on CIN. I found that whilst I don't hold that many of CIN shares that if I valued those I would not want to have at any price plus an appropriate discount for things like TLS what was the fair value CIN was for me. That exercise knocked around $2,40 off the NTA so it was still a great price and I invested. I don't believe that it is a bad LIC just different and it doesn't pay out 100% of income so at around 80%.it isn't surprising that it not high on lists of investors who love LIC's - I personally think the discount is very likely linked to low liquidity and the dividend yield of only 80% of income.

I am happy with this as a part of my portfolio.