We have all been burned - LSF, page-3

I read the Lonsec report which was published by AFR, and someone on this forum.

They are damning of the fund and the blatant cash grab (when they chose to take in more funds during the LSF float).

I tend to agree with the report. It is evident that with over 2 billion in FUM between both unlisted and listed long/short funds, they can't replicate their investment approach.

I hate being in this position, where you either crystallise the loss and move on... or see if there is a turn around. I seem to always make the wrong move.

I wonder if there has been a further fall from grace for a fund manager than L1...Talk about going from the darling of the market to the villain.

I am tending towards sticking it out for another 12 months... and see if my faith is rewarded. Hopefully, it is the right move... It's always a gamble... and I know that.

Retrospect is a beautiful thing. I remember being very dubious when they decided to take in so much more capital and then expend it in such a short time frame.

Trust your gut...