LIC novice, learning all the time, thank you to all who post here. A quick question: Looking at ARG it is up 11c today. Is this normal, what would precipitate this rise? PS hoping eventually to change my handle to LICstar!
It's just a renewal of the existing on market buy-back facility which is discretionary. They have had one open with a 5% cap for a long time. You'd only see it being used at a deep discount.
Likely @Nodrog has a hand in it.....he has built such a tribe of LIC hounds that even a sniff of a 0.2% NTA discount is immediately snapped up, so the big LICs are tied at the hip to XJO.
Just like the old days @SatayKing. Market strengthening, major LICs below 4% yield, LIC IPOs gone crazy, what’s there for a buyer to get excited about! My interest is on the low side in this environment so not really checking the portfolio for much in the way of buying opportunities. Beside having a lot of fun scanning and backing up stuff for paperless office at the moment. But I’m a retiree, accumulators may choose to view things differently. Of course now I’ve posted this the market will likely prove me wrong.
11 cents isn't too exciting, I wouldn't question it enough to look at. MFF should be all over your discount radar
Crap dividend plus possible key person issues so not my thing. No doubt potentially great for accumulators with tax concerns.
Yup, got the same feeling about it. Sideline sitting and always expect I'm wrong. No matter. Only time I know what's what at the moment is the brief (very) finance report on the ABC news. Much more productive than chasing or worrying about the why's of share prices.
