is it time to windup the fund?, page-12

The selling just doesn't make sense. I saw 4 major trades today where someone dumped 100-130k onto smaller average down type buyers. It could also be margin selling. The NTA is nearly double the SP and yet the fall in NTA is 20% against a fall in major market indexes of 30% in the same timeframe. I was expecting the LSF team to do a little better but they haven't. Their last newsletter claims they are seeing this as a buying opportunity, more on this later. We shouldn't forget we invested with LSF because we felt they would perform better over the longer term than we could achieve. Plenty of portfolios out there that will be down > 30%.

"While the current volatility and uncertainty can be distressing for investors, these periods typically prove to be the best times to make investments at
exceptionally attractive prices. We have identified a large number of stocks with enormous upside once the crisis passes and are methodically
positioning the portfolio to rebound strongly as conditions gradually stabilize. " LSF

It is hard to see the world ending based on a virus. China/Wuhan stopped for about 2 months and everything back to normal there now. Pollution data shows factories up and running. I heard through Bluescope that all 4 steel mills are 100% operational. Cures using off-label drugs are reportedly being fast track tested.

I am assuming that LSF is getting together the dream portfolio as this will probably appear, in retrospect, to be the buy of the decade. The problem for the NTA is even good quality assets are being sold. You don't have 10% swings in markets and have only the bad quality assets being sold and the good ones not. The selling of all stocks is indiscriminate even those with good balance sheets and with few effects of the virus or oil shock. EG. I was looking at Medical protection clothing manufacture Ansell today. Great balance sheet, supplies medical protection clothing to the medical industry. I cant understand why the relentless selling there either.

I have been shorting the market with BBUS and BBOZ and made some tidy gains over the last few weeks and yet I had an epiphany today. Despite my capital gains via shorting the market, I am not getting together my dream portfolio. And so I can understand why LSF isn't purely shorting or day trading the volatility. They will be getting together the dream portfolio as they have indicated in their last newsletter. Have faith and average down this will be over in a few weeks to two months. And remember why you originally invested your capital with LSF and your decision probably has not changed.