After listening to the presentation this morning, in regard to the smaller end or microcaps of the market, I understand that there is a lot of information not available to the average punter before deciding whether to purchase a particular stock or not. In today’s presentation, the analysists went through a couple of their failures and admitted there were many more. Sometimes it was by buying a stock that did nothing, sometimes it was by selling too soon, and sometimes it was a case of just simply getting it wrong. But as indicated by their results, they have clearly outperformed and picked a hell of a lot more winners than losers, and made a hell of a lot more out of the winners than they have lost with the losers. All of this along with issuing a decent dividend. I hold WMI but sold half my holdings at $1.51 a fair while ago when SP exuberance got carried away and far exceeded their long term results. As a trustee of my SMSF, to take up an allocation and to get a 6 cent FFR dividend, is a little more cream on the cake. That’s not to say that the exercise isn’t a honey trap... give a little, get a lot..... but although they are probably not #1 on the list of microcap managers, it’s where Geoff cut his teeth, and his analyst team obviously have learnt well and share his philosophies. Another good thing about WMI is that there are plenty of trades and IF you do want to sell or round off your holding, there will nearly always be a buyer or a seller. Not always available in the small cap space. Yep, I will be bidding for some, to top up those I sold at $1.51 but also to take advantage of those Franking credits in my SMSF, dividend of course being harder to find these days. WMI and LICs being just part of my SMSF and a balanced portfolio.
WMI Price at posting:
$1.49 Sentiment: Hold Disclosure: Held
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