Mick, yep, that’s the point. I dont think there is a catalyst for the upside. Given their concentrated portfolio, and the current economic situation, I think any upside is going to be long, slow and gradual. A catalyst for the downside is bad stock selection in a downwards market in a concentrated portfolio. It seems to me that in this market, you need to do a Roger Montgomery or a Warren Buffet and to buy shares or funds that you would be happy putting in a bottom drawer for 10 years or so. I dont think things are going anywhere in a hurry.........you only have to look at some of the other LICs and how much of a discount to asset backing they are along with CSL.
I’m just in a bit of a sad and despondent state at the moment about the market. It seems that we are being cooked by degrees !
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Mick, yep, that’s the point. I dont think there is a catalyst...
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