The discount to NTA has widened to dramatic levels due to recent underperformance, ex-dividend and selling pressure around the QVE scheme.
This wide discount is unlikely to persist..... Small & mid caps are starting to perform again. The selling pressure from incoming QVE holders is abating. And in coming weeks buying from franking credit hunters will recommence ahead of the Oct/Nov dividend.
Importantly, WLE has gotten to such a large scale now that if the discount does widen further, management will be forced to take action. Otherwise the vultures will come knocking and threaten to steal away Mr Wilson's prize fee-generating stream, as his holding is far too small to constitute a blocking stake.
WLE Price at posting:
$1.28 Sentiment: Buy Disclosure: Held
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