Yep, still holding predominantly for 3 reasons. One, there is starting to become a movement in opinion against LICs that consistently trade below NTA. For opinion, read “revolt”....... I want to see what’s going to happen if the market falls and all of these LIC holders, who are in non hedged funds lose even more. Things are likely to change in LIC land.
Two. I am waiting for the 20% buyback at NTA coming up shortly which will release some of my, and my wife’s funds.
Three, JB “says” that because they have got rid of the international component, that things will change. I don’t believe it, but let’s see......
The other thing is, that when JB and ALF and his poor performance start to become the feature of newspaper articles and where Geoff Wilson is featured and criticised for taking 25% management fees for a non performing or dud LIC (that’s ALF), things are starting to move. Combine that with a 20% loss (for me) and that NTA is near my cost price, make me a very constrained and frustrated SH. Short of taking a substantial 20% loss, I am held to ransom. Very frustrating when there are numerous opportunities out there for the taking..... I made over 50% in BVS since October........ frustrating because of JB and his wooden headed thinking who in theory could be making the same profits. I am guilty of not “trading” ALF and putting a stop loss on ALF, because as a long term holder, it was such a successful and reliable LIC prior to JB taking over management.
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