Originally posted by rabb1t
Thanks. It amazes me how hard LICs get hit sometimes. These fund managers are supposed to do a better job than the average punter, but it never fails to amaze me how often they get wrong and get it wrong badly. I'm starting to think ETFs will be the better way to go.
My original thinking was that a guru in a LIC who has their finger on the pulse (it's their full time job, so would think they would do better at it than the average punter), could make money whether the market was going up or down (changing from longs to shorts etc). Seems to be that more frequently they just screw it up no matter which way the market is going.
value in general is getting a smack, in the last month i have liquidated a 20% cash position and gone shopping, today i double my CDM position.
just remember value isnt sexy and sometimes just gets kicked to the ground , thats when their cheap
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