What discount- I don't see any discount, SOL is fully valued in my opinion. I think there msy be around $4 in BKW but the brickworks are cyclical and you wont get many to pay for it. It wasnt only commissions they also took a base management fee. So you were paying base fees to both plus upside on performance which never arrives.
BKI suffers from all of the problems of LIC's in that over 5 years it underperforms the ASX 200. In addition it has regularly raised capital to grow. That in itself has diluted existing shareholders. TM does talk like a value investor and certainly has the credentials- you the reader must decide where you stand - I resoect Timbowls and regularly end up on the same side - however here we will have to agree thst we disagree.
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