Some excerpts from my prior posts in this thread below. I hate...

Some excerpts from my prior posts in this thread below. I hate to say I told you so but I did warn you that once this went ex-div it would sink to a 20% discount. Indeed, see my TER post also. The TER should set the baseline discount and now that I've exposed it, the baseline TGF discount should already be around 20% if other factors were neutral. But the rank underperformance and the egregious capital raising should see that discount get beyond 25%. Have a look at where TOP and TEK discounts are now.

<<
I think given the shocking performance, greedy fee-gouging and insane total expense ratio, the discount should be at least 20%.
>>

<<
It is crazy to buy TGF at $2.10 given you can buy on market cheaper now and (bar any brief compression around ex-div date) the discount should be 20% plus. The current discount is ~13% so the share price should underperform the NTA substantially.
>>

<<
Portfolio manager Ben Cleary acknowledged that the raising could be dilutive, but said the benefits outweighed any dilution.

“I’m a big investor myself, I get the dilution angle, we structured the raising so it was more skewed to a rights issue to allow existing investors to participate in the placement,” he said, adding the book closed early at three times oversubscribed.

“The price is at a discount but at the end of the day, the opportunity is compelling and we had good support.

“I speak to my investors regularly, there’s always going to be some that are disappointed, but the overwhelming majority were positive on it.” Mr Cleary said the move would tackle investor concerns to some extent about liquidity as it sought to close the discount.

“LICs with more liquidity tend to trade at a premium and that was the feedback we were getting from our shareholders and advisers that this transaction, albeit at a discount, would increase the likelihood we’d have more daily liquidity and interest and that will help,” he said.

Mr Cleary said “trading back to a premium” is a key aim. He is bullish on the outlook for the commodity sector, particularly copper and nickel.
>>

LOL. Overwhelming majority of investors were positive on the massively dilutionary capital raising? Trading back to a premium?@! Ben Cleary has no shame.