That's my view on the BHD approach, ....Stag then 'lull' until performance kicks in......The 'Lull' could still be above NTA imo..........BHD does have the capability to produce results quicker than most ......
Have a look at the WAM stable for LIC's trading above NTA, and a few others out there.....QVE APL......got to take options into account sometimes....
I remember before 2008 crash LIC's were booming in a Bull market run.......
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