@joewolf , your point is well made. Only yesterday I posted a...

@joewolf , your point is well made. Only yesterday I posted a chart on the ALF forum comparing ALF with GC1 and was quite surprised at the mediocre performance of GC1 in the early days. I would love to hear your explanation as to what apparently went wrong in the early days, or was it inevitable given the number of options issued at float ? I havent been a holder for long, but am impressed at the research that Michael and his team do, and the picks that he makes. Apparently APT would have been a huge % of his portfolio, but he has sold some to rebalance the portfolio..... I like that discipline. I see also that the div has been increased. Given that Michael would appear to be the biggest shareholder and that the SP is well under NTA, do you really think that holders hold in such numbers that liquidity is a real issue ? Re your comment about buying above $1.08, i recently bought some CSL @ $155.oo, high.... but well below where it is today....do you see any similarity between GC1 at todays price and its potentially higher price if it continues to perform ? I agree with your investing philosophy with small caps; i too am not well prepared in That area given my previous lack of success. I have tradionally bought high and sold low. I would be a long term holder as well but at the moment it seems to be getting the desired results and contrary to the Wilson suite of funds, still under NTA. Would appreciate your assessment....