I think that we both agree of one thing, and that is that WHEN...

I think that we both agree of one thing, and that is that WHEN the market falls, punters will run for the exits and into the arms of fund managers and LIC managers. That’s not to say that we too won’t be affected, but the atmospheric PE stocks will plummet (even if they have been sold down too far and rise again) u til they reach an equilibrium point. Hopefully our LIC managers (of the quality of Geoff Wilson and the WAM family of funds) will be canny enough to see an overheated market and raise their level of cash before that occurs. Have a look at the last months report for CVF, they show quite interesting graphs of how much of the upside they capture, but more importantly how little of the downside they let their exposure get to.
yes I agree about the “selling out of APT by GC1. I too was surprised to see it back on the register as a major holding in the last monthly report. Would that have been some profit taking ? And if so why ?
i just can’t understand the logic behind it. A good (in principle) LIC, but just needs a little more visibility and accountability to the shareholders. It’s always a worry, when you see a major change from one month to the next without adequate explanation or the reasons for the purchase or sale.