Alex Waislitz has been quite wrong on other investments such as MRG, PAL, SSM, DCG etc. Is there a verifiable data on his investment track record? I know he's supposed to be a rock star fund manager, but I've been unable to find any credible evidence of his supposed superior long term investment returns. In his 2019 AGM address to TOP shareholders, he claimed to have achieved "an outstanding performance by any measure" as the LIC returned "an annual average return in excess of 15%". It is a misleading claim as he simply divided the total return of 85% over the past five years by 5. The annual compound return is only about 13%. Even 15% is hardly "outstanding performance by any measure".
It makes me wonder whether he had used the same misleading calculation when he claimed in an interview that he achieved an average annual return of at least 30% over three decades. His "average annual return of 30% over thirty years" is equal to ... 13% p.a compound! Good performance, but not so stellar as claimed.
OVN Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
