Ann: Net Tangible Asset Backing, page-10

The thing that gets me is out of all the funds I am invested in - this has done by far the best (fund performance wise) with regards to recent volatility. Yet, the SP falls the hardest when there is a drop in the US - like clock work.

The only rationale I can come up with is the fact investors are wary of its past. That is, like in March 2020, when it dropped out of the sky. Even this doesn't make sense though, because everything they were being dragged down by back then - is now the hottest picks in the market.

Christ - they were trying to spruik energy and commodity stocks as amazing - when all people cared about was the next profitless piece of crap on the Nasdaq or another buy now pay never company.

Is there a sense of - it could turn the other way any minute - so we will just keep discounting it?

The only thing that scares me is the fact it falls like this when it's getting everything right - not just right - but picked the inflation play to perfection. What does the market do when they don't get it right? Hate to even think about it - especially given the history of massive discounts.

I don't blame you for buying up - but if it was me I would just wait for another big sell off in the US - as you can be sure as anything LSF will take a big hit (even if it's profiting from the carnage).

Strange one. Obviously the market still isn't satisfied.