Ann: March 2023 Investment Update, page-25

Ah Bob,

''What a dumb statement - absolutely true BUT they will have the extra funds which, assuming invested to their normal standards, will provide that extra profit!''

Have a close look at the above statement .

Then have a look at WLE's price before the capital raising.
Then look at the price now [taking into account the dividend]

"absolutely true'' , I have highlighted the 2 true words out for you ,of the , oh so poorly aged statement from above.

Do I have a problem with Wilson management , too right.
And they have demonstrated why they do not deserve to trade at a premium [ seems a lot of people agree with me now] .
Doesn't mean that I wont take advantage of that to buy at a discount.[ seem to remember someone associated with Wilson's saying that was a good idea].
Who knows , there may be enough dumb people around to revive the fairy tale , and I will make some money.

Certainly worked a treat with WAM [unfortunately missed out on all the WAM irrational exuberance , but got a chunk] and WGB.
Not so good with WLE , but bought low , so not much damage done.