Dear Wazz,
I would suggest you dig a little deeper into the family history, including what he originally married into. There was no turning 1 mill into 1 billion on the back of his genius investing skills.
You are definitely a glass half full kind of guy - good luck to you. For a fund with an abysmal track record and outrageous fee structure - turning it into an open fund doesn't tend to bring about greater FUM.
Rather, it involves a mass rush to the door.
Popping their bitter and twisted tablets... why would anyone want to buy into this....
The only people buying into it are the ones hopeful it is liquidated, or converted.
Ann: Net Tangible Asset Backing January 2024 with commentary, page-8
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