Cap, I was well and truly underwater with Spheria Emerging Coys...

Cap, I was well and truly underwater with Spheria Emerging Coys fund LIC (SEC) ain the downturn.
I watched, read and listened to Marcus Burns of SEC reiterate that they were not going to get caught up in the growth “fad” and were religiously sticking to the value thesis. I bought at $1.29 and they are now $2.08 ex div and after 3 divvies. They have an ex div NTA of $2.41. Proof positive that the value approach to investing has worked for them, and me. I got to say that I am relieved that my “punt” worked out so well, but as a consequence it’s now one of my Biggest holdings. Wished I’d bought them in the SMSF rather than my own name tho, but I did that so that IF I had suffered a loss, it was tax deductible.
I agree with Paul (and you ?) that there is an awful lot of hype with the growth approach and looking at MF, there are a lot of posters trying to get rich quick. I posted this on the BNO folder this morning and IMHO it’s a goodie !

Australia is a nation of punters and it’s all too common to see investors punt with money that’s supposed to fund their retirement or pay for a home deposit.

In his classic Where are the Customers’ Yachts?, American stockbroker Fred Schwed opined that the difference between speculators and investors is that speculators try to turn a little into r with money that you need to last for decades.”