@TheCapatilist, you have done well and should be proud of your achievements and well deserved success. Many would have done just enough to be eligible for an age pension… well done on being self funded.
I agree that LICs WERE in the past, a legitimate and practical investment, but like many things and times, better and more practical options emerge. With the emergence of ETFs and their proliferation and their success, together with the considerable and sustained discounts with LICs, is I think leading to a demise in popularity of LICs, particularly when you take into consideration their liquidity and the potential problem in actually selling them at the time and price of your choosing.
Re your success from nothing reminds me of a saying I saw on “The Restoration Man”.
The compare was congratulating a male who had done a fantastic job converting an old railway station into a fantastic residence. It appeared as though the male had spent a great deal on the job and he was asked by the compère how much he had spent. The answer was considerably less than the estimate and he explained he had to … He replied “Well you see I started off with nothing…….. and I’ve managed to hang onto most of it !” A fantastic reply in response to someone who ever asked you how much you’re worth !
