@NotWarrenBuffet. This is good to hear but in his quarterly video, he emphasised the gap between the SP and the NTA. The most significant gap is between the SP and the AFTER tax NTA. My question is, how does one realise the AFTER tax benefit of the gap? Does that mean that no tax is paid until profits are realised ? Or does it mean that there are no tax on capital gains u til status quo is reached ? My observation is that there is not THAT much of a discount between the SP and the pre tax figure ????? The other issue I wanted to take issue with Karl with was a. That he stated that will more rigorously adhere to the scaling in and out process “which has served us so well over time”.................but it ain’t ! especially if you don’t follow it ! and he also added that by adhering to the process we will restore the gains and maintain the performance that has served us well over time. If you have a look at the 5 year returns, the performance hasn’t been that good over time. Is this a turning point for the fund ? Or just more verbal smoke and mirrors ????
CDM Price at posting:
75.5¢ Sentiment: Hold Disclosure: Held
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