Hey pj2.l don't want to be accused of giving you personal...

Hey pj2.

l don't want to be accused of giving you personal advice. Don't know any of your circumstances at all.

My commentary is a personal view only with 40 years of learning underpinning it.

l believe ALF will ultimately be wound up. It is currently trading at a 20% discount to NTA. The ability of the manager to preserve current NTA (without buy backs) is arguable. Market movements will impact this stock both positively and negatively based purely on the manager's stock selection and long or short position. They can get it very right and very wrong from here.

Keeping all of the above factors in mind, and totally forgetting possible dividend payments l cannot help but want to accumulate at current prices.

The 20% discount to NTA gives me comfort against both market risk and manager risk. After that it is just a waiting game, as long as no one is relying on it for income.

Hang in there.