Hey folks,
I see things differently from everyone else here.
I see VG1, VG8 and VGI as strong buys.
First of all, because of the fee structure there should always be a 16% discount. If VGI is going to take 16% of profits then the the shares are automatically worth 16% less than the NTA.
Anyone buying into (or holding) any LIC at a premium is making a mistake.
Second, the manager does not determine the share price or the discount. The shareholders do. Buy-backs will only increase a discount (do the maths).
The part the manager is responsible for is the NTA. That has been disappointing but not disastrous.
As a shareholder, I’d be disappointed if the manager was focused on anything other than making good stock selections.
Email from McComas, page-11
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Last
$1.94 |
Change
0.020(1.04%) |
Mkt cap ! $564.1M | |||
| Open | High | Low | Value | Volume |
| $1.93 | $1.94 | $1.93 | $549.8K | 283.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 47107 | $1.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 4560 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| VG1 (ASX) Chart |