@Stumpedup, we are definitely reading off the same sheet of music ! I completely agree that the market is lacking direction and there is no shortage of so many differing recommendations and opinions from "so called" investment gurus. Someone (and hasnt everyone ?) stated that CBA is overvalued, and their divvy has reduced and recommended selling and putting funds into QBE. I Have never really understood QBE or fully trusted it and besides someone said that it was 17% overvalued! I definitely will have a look at SB2, although you are gamer than me going into yet another LIC at the moment. WMI was supposed to be in the sweet spot at the end of the Leaders and Mid Cap run, but it appears, to put it kindly, that Wilsons appear to have lost the plot. I haven't sold any, of the Wilson holdings, but its comforting having a plan to exit and to have absolutely no regrets when I do ! I agree, that a period of consolidation is the strategy for now. And I agree that ETFs are the lazy persons way of having a bit of everything (including CBA) and that most ETFs have had their run ! I am most happy and you have my thanks with your fund suggestions and I am happy with most. I told you that I redeemed my Montgomery Small Cap Fund at a loss and also redeemed a couple of Bennelong funds that showed losses overall over the past 3 years partially as a consequence of our time of entry and also poor stock picking. I went into Hyperion Small Coys Fund (Oz), The Schroders one, A Medallion Aust Fund (Michael Wynn), topped up the Auscap (its had a bit of a rough time lately judging by the unit price), and The Pengana High Conviction Fund is going gangbusters. I recently sold a listed Property Trust (GDF) that had great prospects but that had stagnated and the divvy was not compensating. Our namesake Eley Griffiths is chugging along, and they get marks for trying... some of their small mining picks are interesting. With the proceeds of the sales, I am looking at a couple of fund picks. Have a look at Seneca Small companies fund and listed to Luke and Ben on one of their video presentation's. They say the min is $100K, but I asked Luke and he will take in the vic of $30K. I like the fact that they are reactive and have a small team. I think their results are pretty good as well. I was also impressed by a female analyst, Qiao Ma Portfolio Manager, who I think is with Munro Partners (Our Team | Qiao Ma) News | A sizzling start: How Qiao Ma delivered 62.2% returns in the first year of Munro's new strategy, she is as sharp as a tack, has got sizzling returns and is hungry for wins. To boot I think her fund did 62% last year ? I think the minimum for the fund entry is only $10K ? I plan to enter but have to have another look. She sounds WAY better as a fundie than she appears. I heard the other day that the building industry comprises 30% of Chinas work force but that there are more homes/units etc vacant in China than all the houses in Australia. if China puts the brakes on (which appears inevitable) the Aust Coal and Iron ore export business is going to hit the wall., I will have a look at SB2, but as far as any new or more LICs go, I think I am scarred for life by Wilsons ! While I think of it, go and have a look at the fund holdings and the current discount for GC1. Its very tempting with a 50% discount and a revised and a not too bad portfolio (once the dogs have been put out for the night !) Always good to hear from you and your opinion. PJ.
