Jeff, your comment about Geoff Wilson having stakes in LICs make sense for him, because not only does he offset his risks, but he also gets to buy his $1 for 80 cents. By that I mean that for us (the retail investor) we only make money if the gap between the SP and the NTA closes. For Geoff and WAM funds, if the management company continues to stuff up and get poor returns, he not only gets to buy the underlying assets at a discount, but also gets the opportunity to buy the management company and its operating fees as well. A win win for him, but no so much for us......
WIC Price at posting:
$1.15 Sentiment: Hold Disclosure: Held
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