@cutty... Rule Number One. Irrespective of the style of the investment manager of an LIC, NEVER invest in an LIC at the float ! From One that did invest at the float (SEC) but never will again. PS. As we have discussed on HC, I did have confidence in the method and style of the investment manager and had the resources to top up at $1.29 and even up to $1.39. They are now $1.69. Personally. I agree with the comments of @Transcender and their observations of the accountability, NAV and the style of investing of LSF. It is different, and investment styles each have their day in the sun at different times of the investment cycle. I find the monthly reports of LSF very deep and insightful and they obviously back themselves in a meaningful way, both fund wise and personally. This is not to say that you are incorrect or wrong, as the LSF managers have far deeper pockets than any of us, and a loss by you is going to be felt more keenly than by them. The pain of a loss and the subsequent loss of trust can be felt more significantly, than the pleasure of a gain, but apart from any illegality, I guess you have to ask yourself if the amount you have currently “lost” will affect your life in the longer term ? Or is it a matter of just waiting for the managers to “get it right” ? Not everyone has deep enough pockets to be able to keep buying one stock at the supposed bottom, and I am one, but if this loss is causing you so much grief, perhaps a less volatile LIC or even an index fund may be worth looking at. I feel your pain..... but there ARE options (alternatives).
LSF Price at posting:
$1.54 Sentiment: Hold Disclosure: Held
(20min delay)