in the case of naos and Thorney the management buy big stakes of the LIC to make it hard for anyone like Wilson to change anything, all as effectively a transfer of wealth from small shareholders to the investment management companies in the way of ultra expensive and unjustifiable management fees stream to them.
of course in the shareholder presentations they call it "skin in the game".
WAR Price at posting:
$1.10 Sentiment: None Disclosure: Not Held
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