Yes - I agree. The problem is that those jurnos just have to turn out a quick article and thus regurgitate current sentiment rather than doing original research and adding value. For example this Michael West guy is criticising the trading halt. Goodness me, of course there has to be a trading halt otherwise all those in the know would clean us out. And then if he had that opinion about Allco six month ago why did he not publish that article six moths ago?
And then all those jurnos are bitching about the underperformance of the Allco funds. I only know about RJT and REU and indeed it is unbelievable.
The last reported NTA per share for REU (reported only a few months ago) was over a dollar and today those share are selling for 20 cents. Unbelievable. If they can maintain the distributions the shares will be yielding 50%. Unbelievable. I rang management today and they tell me everything is fine. If there were any adverse issues affecting the performance of REU we would be obliged to disclose it under the continuous disclosure rules, - so they tell me. They tell me the fundamentals are OK the share price is all due to market sentiment. Well who do you believe? The market or management? This whole issue is tailor made for an inquisitive financial journalist - either the market is nuts or management is telling lies. Where is ASIC and where is a journo worth his keep?
AFG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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