Reality check 2, page-43

Firstly, you should never try to insult someone when you have no idea about investment structures, including the basis of a listed investment company.

There is absolutely nothing wrong with attributing terms like reliable earnings and increasing profits.

LICs are no different to a company making "widgets" or anything else for that matter. The only difference is they are in the business of investment.

Earnings mean everything and he never said anything about P/E ratios.

I never get tired of the "punt fund" tagline...that really is your catch phrase.