Ann: Investment Report & NTA May 2018, page-27

peejay,
I don't think I could teach Paul Moore anything about what he does. PGF was my largest holding at one point, it started slowly and I watched it drift to low 90's and then 80's. When it get to low 90's I started buying as many as I could afford. I thought Paul Moore too good a manager for it to fail and kept buying. Similar story with PAF, although I didn't buy anywhere near as many. Once they got a run on they increased pretty quickly. I'm pretty sure Woollydog backed PGF and made good coin too.
I rate Paul highly and only sold because I have a strict trading plan which includes taking large percentage gains and recycling those gains into other undervalued opportunities.
The secret for me is to find great managers and wait for their LIC's to be out of favour and/or cheap, then pounce.
I have learnt to be patient too.

If I had my time over again, funds management is something I would certainly be interested in. Unfortunately getting an education wasn't possible for me growing up. I am blessed that I understand numbers and have been very disciplined with money.