Why are you that concerned ?- It seems that no-one is ever happy. He can only manage the portfolio which has over the past 18 months improved substantially. If you don't want the gap buy more. Its only a concern if you intend to sell. I for one think buybacks only help those wishing to sell and blur the focus of management. I don't care about the discount - Argo has a discount - AFI has a discount. I think the discount is fine it services the fees of the company.
What I think we have here are stale shareholders who either paid a lot more or want a profit to move on. The last compliant was its illiquid - no buyers. I have been accumulating and as such have been beaten to the punch many times.
Its also not a 60% gap. Look closely at the composition.
GC1 Price at posting:
47.0¢ Sentiment: None Disclosure: Held
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