Notwithstanding the extra personnel, the fact is, if they're going to dabble in shorts to any extent - they've alluded to a marginal focus - then they are clearly open to the risks and view themselves as possessing some of the requisite skills.
Do you have details on hand as to how the WAM Capital or WAM Research stocks themselves have performed over said period? Agree a lot of other funds struggle for consistency albeit even though I might be investing in a portfolio when I back a LIC, ultimately, the thing I care about is the appreciation in my holdings - after taking into account all fees, etc. A very crude look at WAX since 2003 shows a share price rise of ~50c (50%) over 15 years, plus dividends along the way (average a few per cent p.a. over the long term??). Couldn't go back far enough to see WAM's history.
