At Jan 31st SP was at approx 8% discount to after tax NTA so things are looking up. Hopefully that can be further improved by this month end. I am now at even money on my capital outlay and that is only the second time since I have owned them. However taking into account the dividends I am well in front and that is probably the only reason I have held them during the loss periods. We now need the Wellard and TBH theses to come into play but I personally think they are going to take some time.
Mixing bowl, page-10
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