LIC & LIT Listed Investment Companies (LICs) 2019

Um, it's one interpretation.

 

Seems a lot better result than a capital loss of 48c just because the markets do crazy things, which happens all the time. Afterall, daily "capital losses" (otherwise known by the far less melodramatic name "price movements") happen all the time simply because of sentiment and with no relation to the actual business fundamentals.

 

Ah well, the saving grace is it ended 21c up for the day (Yeah, I had to look and it wasted 30 seconds of my life.)

Does that mean I've made a capital gain of 69c (oooh, snigger) for the day?

Whatever. Time to do something more productive. Barre chords still hurt especially on an acoustic.

 

I do admire your persistence.

 

Just reading the latest from @Snowball

Strong Money Australia

Glad too see the purchase of an index fund.. Vive la révolution

 

We all have our weaknesses at times.

 

If it fits the objective and makes sense, it's the correct thing to do.

I'm now going to brood over the high price, crappy yield, high P/E of SOL. It's only plus is the EPS is larger than the dividend.

Or go and play with a new toy I purchased a few days ago in order to assist GDP and distort the CPI. A Taylor GS Mini.

 

From AFR

'Boiler rooms' are back as listed investment companies raise $6b

Fund managers are now simply shifting their capital raising efforts on to the ASX to allow them to side-step FOFA completely.

As a consequence, there has been a tsunami of new listed investment companies (LICs) and listed investment trusts (LITs) launched since 2017, raising more than $6 billion for fund managers who have paid brokers/advisers enormous sales commissions of up to 3 per cent of the value of the capital contributed by mums and dads.

This includes big names such as Wilson Asset Management, Magellan, Platinum, VGI, and many others.

 

Neat. Some more funds went in today - ALI.

After using two registries, Computershare and Link Market Services, I much prefer Link. It enables addition and management of separate entities with separate HINs as opposed to requiring separate account and logins as does Computershare.

Having said that, I think I may have to see about one aspect as I am still able to access the share details of the Testamentary Trust despite no longer being involved as Trustee. I feel there has been a small administrative oversight and it needs to be rectified. A phone call and follow-up email required to get it sorted.

Life. Minor matters always occur.

 

On the topic of SOL:
A century of dividends

Timestamps:

• 2:21 - 2 standout investments in Soul Patts' history
• 5:32 - Picking good people & trusting them to run a business
• 6:27 - Why coal still has a future in Australia
• 9:12 - Australia's part to play in "feeding the world"
• 11:47 - The rationale for selling 160 Pitt St
• 13:12 - Looking after people's money a priority
• 15:46 - Having cash to pounce on opportunities
• 17:18 - "Buying right" the best way to get value
• 20:21 - Extolling the virtue of patience
• 21:46 - Again, it's about people, people and people
• 23:26 - Keys to an enviable dividend history
• 26:26 - The Federal election & the future of franking
• 28:41 - Is it time to get back in the banks?
• 30:30 - The housing slowdown & its impact on Brickworks
• 31:16 - The mutual benefit of the cross-shareholding with Brickworks
• 32:56 - On climate change, population and scaremongering
• 36:26 - Why Soul Patts is a rewarding investment

 

Certainly has been especially when around the $5 mark. Yeah that long ago.

Not inclined to add more. Was looking to add last year but went for MLT as the proxy.

Boring is probably a syndrome of being simple according to something I read somewhere at some time in the past. It fits me thank goodness.

 

Think somehere in the interview was said that BKW had recently sold some SOL,guess that fits with their idea of selling high then buying back in when low. I too,hold MLT as proxy.

 

I wasn't aware BKW did that. Interesting. Maybe they sold to Perpetual

While I would not suggest others do what I do (God help them if they did) I find it best for me not to take notice of share market sheanigans. I'd panic, fret, do something as a result and get it all wrong.

Anyways, I wish you all the best. I'm out of here for a period or maybe longer.

 

Shame, hope you return. Hopefully none of us have put you off posting here and / or all is ok at your end.

 

Good gracious no.

Have to sort out some matters which involve me but not about me. Usual life s.it which can crop up in families.

 

Mentions it around the 20.00 min. mark.

 

I assume you know that the Perpetual comment was likely a joke given their attempt to break up the cross holdings a couple of years ago.

 

Oops,nope didn't know that

 

Essentially Perpetual and that #%&#@#& Mark Carnegie were told to suffer in their jocks. And rightfully so.

 

Thanks Nodrog, I did google something but only read something from 2013 so this is interesting. Also very good was the link from Livewire & interview with Mr.Millner that you posted, feeling confident investing with this family through MLT & BKI.