@Tinwins.... don’t exactly understand your post...it’s a bit cryptic for me....
But
@ThinkMillions has some good points. CDM has been absolutely savaged by ARQ, but apart from that one disaster (at the moment), I think the Fund has been performing pretty much on par with other LICs that haven’t exactly been shooting the lights out either. Now that (we hope) that ARQ is about as low as it can go, the discount to NTA and the other holdings in CDM should put it back on an even keel.
The trouble for me is that I am way overweight in CDM in my SMSF, originally investing not only for the capital appreciation but like a lot of other trustees, also for the FF Dividend. To further dip my toe in the water, would require a large leap of faith in that I would expect CDM to rise, so that I could then sell off some to reduce my loss. Karl as u say has 22 mill shares, and he is suffering as well. I know what’s going on in my head, and you have shared your thoughts, but collectively we don’t know WHY Karl initially went into the wealth destroying ARQ, we don’t know WHY he stayed in the wealth destroying ARQ, we don’t know why he didn’t exit or at least sell down the holding earlier, and although we may get some idea of his thought process in the upcoming video presentation, actors are paid to act, and I would expect him in his presentation to put a “optimistic, and we will do better in the future” slant for CDM and his management in his video, rather than a head in hands and hand wringing declaration that we “stuffed up”!
I agree with you that there MUST be a plan ahead, but in our case and (wisely not in yours) we are not aware of his grand plan, but at the same time, he has our money. I don’t know if you are aware of the term “a Christmas hold”, but in this case all the balls are in his hands !
(20min delay)