I do think that there may well be a degree of arrogance. Whilst that may be the case they are a threatened species - The building blocks of good businesses and less emotional than most. I also think they are easy targets because they do not buy into the reporting cycle of investment. That long term investment may take several years to unfold and you have to accept that at that date the reflection in the share price. Reporters today don't report they often have an agenda. They need drama much like reality shows - they will die unless each new series has something more outrageous than the previous one. That makes for needing a shock factor. These guys don't play into the reporting cycle. They don't get flustered when someone tells them there is quick money to be made by unwinding the cross shareholdings. They just keep playing the long game.
Yes, I have no doubt they should have a better website. However the Brickworks one , the Vodafone and the New Hope ones are very good and those are the customer facing businesses.
Argo, MLT and AFI used to report portfolio against the index. None do as LIC's have started to underperform the index. So they don't show that. I suspect that SOL would just keep putting that out there and not hide it. The cycle will turn and at some point LIC's will outperform and they will start putting the charts up again. In a falling market they do do better.
I think it is our role to make them aware of what they can do to support shareholders - even those considering leaving. I think they do report their theoretical NTA every 6 months and that is all they can do. It is enough for me. +
SOL Price at posting:
$26.58 Sentiment: None Disclosure: Held
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