And the key clause. Gross performance before management and performance fees. We dont have to worry about the latter, but KS certainly worries about the former. If you remove it shows the real picture for investors.

Went through the AGM recording and KS provided his global understanding of the markets in general and waffled on about a few current stock positions. If you take the 5 and 10 year performance and remove Management Fees his stock picking is awful. 50% cash, 1 boom stock TMC, not sure how many other Boom Stocks went "Boom". The recording did not answer any of my queries, may be they were handled during the edited pieces.

• Thefund has under performed for many years. What steps are CDM undertaking torectify?
• Thereis a major difference between the NTA share value and the share price. What arethe key contributing causes.
• Doyou believe that the market has lost confidence in the CDM product?
• Hasthe KS management team been affected by staff departures? If so please providedetails of the organisational changes that have occurred.
• Themarket appears thin even with the opportunity of the value gap. How doesCDM propose to use this opportunity to the value of all shareholders.
• Hasthe CDM management and board team reviewed whether a wind up of the fund wouldbenefit all stakeholders? If so what was the outcome?
• Whatwould be the financial impact on shareholders, should the fund be wound up?

Other post AGM throughts
One or 3 directors could not attend as was interstate. ????
CDM advised that they would Buyback 10,000,000 shares on the 6th Oct 2023. To date they have purchased 466,265 or just over 4% in over 2 months. How much discount to NTA is KS looking for. We have not seen the nov monthly NTA and maybe a surprise.

And @barrygeoff may be on the money. Shooting star that finally goes out.