Ann: NTA & Portfolio Update - May 2024, page-41

@vivRookie. Politics has absolutely zero to do with NCC poor performance. Interest rates will have an influence in the future, but that's the domain of the independent RBA. And a rising tide (rate cuts) would in theory lift all (small company) boats.
Question: Why are you quoting a LiveWire Markets article that features Wilson Asset Management? Perhaps because you couldn't find an article from NAOS such is their profile? And therefore why are you not invested in WMI or WAX for the "juicy yield" instead of NCC?
The quote from Oscar Oberg is in reference to the broader small companies space (aka the small companies index).
Dude !! NCC under-performed the small companies index by -36.5% over the last 12 months, and under-performed the index by -13% p.a. over each of the last 3 years. This is not a political issue or an interest rate issue. This is so eye-popping to the extent that blind Freddy could see there is something amiss within NAOS's ability to stock pick and risk manage a concentrated portfolio. Full stop.