@peejay2 yes, i too was pleasantly surprised and thanks for...

@peejay2
yes, i too was pleasantly surprised and thanks for bringing it to my attention.

like you, i've got no clue of what's happening behind the scenes at Cadence.

BUT after re-reading the NTA report, i note that there's no percentage points attached to the top holdings, and the table is now in alphabetical order! he must be learning from his former mentor to obscure the things that should be obviously disclosed.

Currency exposure for all overseas holdings is listed as AUD, does it mean it's all hedged? not sure i like that, if he does dabble overseas i'd rather have it unhedged.

From the sector analysis table the technology is at 9.4% so does it mean the individual tech stocks are at less then 2 pct weightings each? and is it even enough to move the needle?

the more i look at it, the more questions i get, and i don't think karl is the type of bloke to give you straight forward answers. We all heard it before, when it hits the fan, it will all be "portfolio did this" and "portfolio did that". Bad bad portfolio, but not the manager, he keeps clipping the ticket of a closed vehicle.

i've written this thing off mentally about a year ago, it might look a bit better now, but nothing to be too excited about.

my humble opinion only of course.