Hi SimonGr, It's even more sensational when you strip out the 25% cash holding ($48.4m), it means that the people buying and holding are valuing WAX's equity holdings of $145.12m at $217.7m, or +50% premium! That's a lot of love for Geoff W. and his team given their recent underperformance.
No a lot of logic in paying 50% over the cost for a portfolio of shares no matter how good the manager, I suspect a lot of WAX holders are just looking at the divvies and ignoring for valuation fundamentals at this time. Hopefully your "novice charitable folk" don't totally blow their super drawdowns and JobKeeper windfalls.
WAX Price at posting:
$1.37 Sentiment: Sell Disclosure: Not Held
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