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LIC Educational Material

Discussion in 'Other Asset Classes' started by austing, 5th Oct, 2016.

  1. austing

    austing Well-Known Member

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    As requested here's some educational material on LICs. For those expecting a few paragraphs such as "LIC Investing in a Nutshell" I say don't be lazy. It doesn't take that long to read stuff like what's below and you'll likely become much wealthier for it.

    If any newbies jump into the general LIC Discussion thread asking about the basics I suggest you direct them to this thread first.


    Please add any further LIC education material here. If any links are lost I'll try to locate the replacement or post something similar.

    What you need to know about listed investment companies:
    What you need to know about listed investment companies - Morningstar.com.au

    A Guide to LICs:

    https://affluencefunds.com.au/wp-content/uploads/2016/03/201602-AFM-Guide-To-LICs_Download.pdf

    Inside listed Investment companies:

    Inside listed Investment companies

    Consider a LIC before you bite into equities - Cuffelinks

    Caveat Emptor: LICs versus ETFs - Cuffelinks

    The evolution of Listed Investment Companies - Cuffelinks

    The major weaknesses of LICs and managed funds - Cuffelinks

    OPTIONS:

    Watch those unexercised options in LICs - Cuffelinks
    https://cuffelinks.com.au/wp-content/uploads/LIC-201512.pdf (Options article)

    NTA Discount / Premium Issues:

    Why LICs trade at premiums or discounts - Cuffelinks
    Insights into LICs trading at a discount - Cuffelinks

    Capital management techniques in LICs:

    Capital management techniques in LICs - Cuffelinks

    Three risk measures provide a fuller LIC picture (advanced material):

    Three risk measures provide a fuller LIC picture - Cuffelinks
     
    Last edited: 5th Oct, 2016
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  2. herenow

    herenow Well-Known Member

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    Thanks! :)
     
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  3. Mac Fields

    Mac Fields Well-Known Member

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    Brilliant! Thanks from those crossing the line

    Cheers,
     
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  4. austing

    austing Well-Known Member

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    Be warned of the BST bias in the following article.
     
  5. OscarBravo

    OscarBravo Well-Known Member

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    For those of you who like a bit more activity in your life, I can recommend reading up on Phillip Goldstein of Bulldog Investors. His funds focus is buying LICs at discounts to NTA then closing the gap via activism (similar to some of the stuff the Wilsons guys get up to here). An incredible track record (reasonable returns but uncorrelated and low volatility) over a reasonable period of time.


    Try here for an interview: Phil Goldstein of Bulldog Investors on Activist Investing: Interview ~ market folly
     
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  6. srirang

    srirang Well-Known Member

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    Fantastic! Thanks so much for sharing.
     
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  7. austing

    austing Well-Known Member

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    GVF LIC does something similar by the sounds of it.
    http://www.globalvaluefund.com.au/files/20140616_BellPotter.pdf

    I'm trying not to take this thread off subject but the GVF research report gives a little background into LIC (CEF - Closed End Funds) "activism".
     
  8. OscarBravo

    OscarBravo Well-Known Member

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    Apologies if I was off subject. And yes this is exactly what GVF does!
     
  9. austing

    austing Well-Known Member

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    All good I was referring to ME (not you) taking the thread off topic:).

    Activism is a great educational topic for those interested in that area.
     
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  10. Jerry O

    Jerry O Well-Known Member Premium Member

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    Excellent work as always @austing !
     
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  11. austing

    austing Well-Known Member

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  12. austing

    austing Well-Known Member

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