Ann: Weekly Month-to-date Performance Estimate, page-7

Precisely ! Your graphs show that unless you were a “trader” as opposed to a buy and holder, you are worse off than you were 9 years ago... and in the last 6 years almost at any time, your net worth is declining. Put simply, since late 2014, your holdings are now worth only half of what they were then.
Hardly wealth accretive. Your figures are fancy, the fund results are uninspiring, the SP shows investor confidence in the managers to do better, (not), JBs excuses for ALFs non performance are lengthy and never ending, the quarterly reports are technical and voluminous, (but still report relatively poor quarterly results).... graph shows consistent SH loss since 2017 etc etc etc..... but hope springs eternal and some SH are hanging on in the hope that a catalyst for change will emerge and all of a sudden things will change for the better. Well, they would have to, wouldn’t they ? I am hanging on in the hope that there will be some form of SH or major SH action that will force a change of management, conversion or wind up. But not with any great expectation that JB will change his wooden headed investment thesis that has failed SHs for so long. ALF can’t even afford another buy back after all costs at $1.10 like the one earlier on in the year, despite the investment scenario provided by COVID being exactly what JB has been espousing as his ideal investment climate to make money in, and for which he has been positioning the fund for, for the last 4 years. I note that you hold but with no particular sentiment to buy. Mine is quite clear, to hold, hope that the Fund will “change” due to shareholder discontent or activism, that the SP will rise marginally (at best) and then get the hell out of ALF and JB and get my funds to work in a share that will not half in 6 years. Simplistic and non technical... that’s me....but your graph tells the story !