I suffered through the first set of bad results and then sold...

I suffered through the first set of bad results and then sold out last year when the second run was ending - May 2017. This is the only LIC I have ever lost money on - well I have lost on 3 but they are all Watermark run.

I was led to believe that they had a very good person running the short portfolio but they left around 2015 and that that has been a problem for them. I think that is the real problem so it's not necessarily Justin but the fact that they don't seem to get the pairing right. They will tell you its the fact that the event they are waiting for ( a correction - which is when they say they do well ) has not happened but it will happen. They may well be right but I lost faith in the team as I expected them to do better and WGF has been no better as they didn't do any better there - only they have the RBA rate as the benchmark - how they get away with that (using a local cash rate as a benchmark for a global investment) I don't know. All in all, I feel for shareholders - I could not believe that this could not be fixed but WGF is trading at 91c after raising capital a$1.10 only just over a year ago. The share price here is really low far lower than when I sold out.

Personally, I think there are better teams out there and with more access to various funds, I think that you can find better.