Fair points you make, I am not necessarily in love with index...

Fair points you make, I am not necessarily in love with index funds so I wouldn't necessarily say our views differ greatly on all this.

I also wonder whether a collect on the outstanding debt maybe just around the corner. it is interesting to read a thread on BHD almost exactly a year ago wondering the same thing. I think I raised the question at the time if they get a "win" is it a win in the context of possibly at best taking away maybe 4 years of high fees keeping BHD listed to chase this? This is the cost to shareholders to get a "win". Also is the timeline never ending of chasing this just around the corner result? Would be interesting to see someone do the numbers what might be collected in outstanding debt in the future, minus a few years at least of directors and professional and other listing fees to get such a result. I can't find such numbers or comments about probabilities to justify keeping the listing.

The main things that stands out to me in all this is how the board was appointed with their stated intention being to return capital to shareholders, which was in black and white writing back in 2019, pre covid seems like a long time ago.