LSF Miscellaneous

There don't seem to be too many posts made to LSF threads, and the few comments that are posted seem to get spread over multiple little-used threads.

Hence "LSF Miscellaneous" is suggested - a collection thread for all things about LSF, intended to be an all-encompassing alternative to the multiple little-used threads. New and old topics are all welcome.


To kick off, I will contend that the current SP dip is probably now at a turning point. (And before anybody asks, yes I bought the dip.)


SP touched its record high of $2.35 two weeks ago when the NTA was around $2.53. Since then, the NTA has fallen while the SP has fallen nearly twice as much. Yesterday the SP went as low as $2.15.

According to my indicative calcs, the next NTA announcement to be made after Easter will probably show yet another decrease, on top of several recent disappointing NTA decreases. However, yesterday's market rise will probably have clawed back some ground.

The current market trend appears to be slightly upwards. If this trend is maintained then the NTA dip has probably now bottomed, unless the fund managers are well out of kilter with the market. A rising NTA plus the buyback should drive the SP upwards in the short to medium term.