Guys, the entire LIC industry relating to funds established over...

Guys, the entire LIC industry relating to funds established over the last 10 years in in disarray.

Gee, there are now "vulture" funds that invest in nothing but LIC's where there is a serious disconnect between SP and NTA. I won't use them because that adds yet another layer of opaque "management" and my first principal is if I am not prepared to invest a lot of money, I won't invest any. However, if I was only out to make small money, they are a monty for retail holders to generate double digit returns as each LIC unwinds, liquidates or restructures.

ALF was doing quite well as a long/short Aussie manager and made the mistake of venturing into markets they had no skills in. Not the first investor to have ever committed this error.

The last 5 years have been absolutely poor and capital destructive, if holders have been passive. Sell at a premium buy at a discount usually works really well, but less so here as ALF NTA has been eroded by poor stock management. Nevertheless, anyone who has bought in the last 6 months has got to be feeling pretty good right now (especially with the NTA less DTA offer on the table).

I think it is just a matter of time when this stock will unitise, like WMK and release its underlying value to the last share holders standing. JB will not retain his post, probably, he does not deserve to.

My life's work has been identify and invest most in low risk assets with unrealised value. I think ALF fits the bill. I am thinking 2-3 years from now will be the necessary time horizon people need to factor in.

If I live long enough, I will be happy. If I don't, I expect some of my less deserving heirs will also be happy.

Naturally, this is a forum, so my views do not constitute advice to anyone.

DYOR and good luck to all.