I do agree with you about going into an LIC on the IPO. my last was Spheria (SEC) and although I have bought more on market, there is a lot of difference btw the IPO price of $2.00 and the $1.76 I paid
last week. Because most of us believe that LICs are there for the long haul rather than a sudden jump in price, I agree that the best time to pick up a; LIC is post IPO. You only have to look at SEC, LSF etc for the proof. I don’t know about MOST LICs needing to be liquidated and the cash returned to investors, but I definitely agree that there are some who are deserving of that fate !
Is it the end of the Listed Investment Company?, page-57
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