We have all been burned - LSF, page-42

I did it manually by downloading close of day prices of the ASX200, the LSF Share Price and the LSF NAV from various sources.  It was laborious and time consuming! 

So the answer is "Yes I could" but "No I'm not going to"!.   

As I only bought in about 6 weeks ago (at a 5% discount to pre-tax NAV) I was spared the worst of the NAV devaluation, but alas I haven't been spared the worse of the SP underperformance.   Looking at my records I can see that when I bought in the NAV on that day was 1.5852 and now it will be (hopefully) greater than the last published price of 1.4732 (as the ASX has lifted a couple of per cent in the intervening few days).  So that's a 11c decline or less which is bad but not terrible.  But the SP has dipped 22c in that time.  Which IS terrible.

I am not a fund manager and quite frankly in this market I'm glad I'm not.  Which is why I have a good deal of my assets these days in ETFs and LICs.  Let them do the work for me.

IMHO the current market is quite irrational on a number of levels and I think highly influenced by algorithmic trading and (ironically) the increasing influence of ETFs and LICs investing in the same subset of stocks.  These stocks seem to get swung around with huge volatility while other below-the radar stocks with relatively stable business and outlooks get ignored or sold off.   And there are too many "unexpected" market-moving announcements these days which makes investing in a small number of stocks quite risky (look at TPM today for example, or IFL a few days ago).

Although I share the frustration of many in this forum about LSF I think we can all agree that it is too soon to judge how successful they will be.  Personally I will be re-evaluating after one year and then deciding whether to give them the benefit of the doubt or cut my losses and try another fundie.  There are a number out there that I have my eye on but I simply to refuse to pay a premium over NAV for the privilege of paying them to manage my money, so I am patiently waiting until I see a good one temporarily trade at a discount.  

If anyone has any candidates please let us all know!

GLTAH including myself.