LIC & LIT Listed Investment Companies (LICs) 2019

Discussion in 'Shares & Funds' started by Nodrog, 1st Jan, 2019.

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  1. SatayKing

    SatayKing Well-Known Member

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    Such a very good question @dunno but a hard one, for me at least, to answer adequately. It'd require a Slider moment.

    On reflection I believe I had a few things going for me. A strong financial discipline, which I still have, not particularly attached to things to show others how great I am (I already know I am! :D) and married to a lady who had a similar approach. That is basically how I have reached the position in which presently I am.

    Would my current attitude applied in my younger days have resulted in me being better or worse off? Possibly better but I have no way of proving that. I equate it to being among a large group all shouting at me "You have to do this or that. You're nuts doing what you do, look at this 10 bagger!"

    And ignoring all of them.

    It'd be lonely place.

    On a similar theme, after the disaster which was Storm Financial, I read a number of articles some of which referred to a smallish town (I cannot recall which one) where it became Pub talk "Gee, Bert's doing really well..." and many joined the fray. All went broke around the same time I understand. Ignoring the mob is difficult.

    So, yeah, I listened to a few "tips" and lost a bit a few of which were Aerodata, Sons of Gwalia, Paladin, Adsteam. If I hadn't listened I believe that money would have found it's way to some LICs which are still in existence and still throwing dividends in my direction.

    Probably not the comprehensive answer to your question but that's how I see it.

    And folks while it's nice please don't ascribe any wisdom to me. I'm only a plodder doing things which suit me. There are others on this forum who have way more expertise than I ever had or will.
     
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  2. Greedo

    Greedo Well-Known Member

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    Was it Ayr? It’s where I grew up and the Cassimatis family is from I think. Many horror stories in that area
     
  3. The Falcon

    The Falcon Well-Known Member

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    Yeah I think there is an element that we just
    need to feel the burn ourselves. I recently gave “not advice” to a young bloke on the make and it didn’t seem to go over well ! Funny that...

    We want to bend the market to our desires and
    search for stories that confirm what we want to hear....yes, the level of resources comes in to play here, at $10m clear no need to reach as hard (and want to believe) than somebody with $500k...

    I think for a lot of us it’s only through time and experience that we learn to embrace rational expectations and steer clear of triple inverse ETFs :p ....far better to learn the hard lessons at 22 rather than 62.
     
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  4. oddshapes

    oddshapes Well-Known Member

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    I went along to see Peter in Melbourne last weekend and asked him about his portfolio, he said he now has 38 individual stocks which he is reducing down with the end goal to have just his LICs.
     
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  5. SatayKing

    SatayKing Well-Known Member

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    Possibly @Greedo but I cannot be certain. Was a while ago. However, I'd hazard a guess if it wasn't Ayr it'd be some other town around the Townsville area. It's not surprising as it's the way peer pressure works.

    When I read some of the submissions to the Ripoll Inquiry and the subsequent report, I won't say I was amused as such but the thought of "Good luck with that" struck when it was suggested there was a need for consumer education and understanding of financial services.

    Try implementing that concept while having a few beers at a BBQ or Dad proclaiming to the family he is the font of knowledge on all things to do with property and money. An amazing level of misinformation is distributed during general social conversation.
     
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  6. Redwing

    Redwing Well-Known Member

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  7. sfdoddsy

    sfdoddsy Well-Known Member

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    Psychic.

    Back down today.

    :)
     
  8. Redwing

    Redwing Well-Known Member

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    @SatayKing nah, we worked it out long ago, @Nodrog "is" PT ;) :D
     
  9. Maestro23

    Maestro23 Member

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    Hi Oddshshapes,

    Did he mention which 5 LICs he runs with?

    Thanks,
     
  10. Redwing

    Redwing Well-Known Member

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    From Strongmoney

    upload_2019-6-28_18-3-29.png

    How many LICs do you think one should own?

    Peter Thornhill: No strict rules. We have 4 which is more than enough.

    (We can likely tell from Peter’s previous articles and comments that these LICs are Argo, Milton, BKIand Whitefield or AFIC. All focus mostly on dividend-paying industrial companies, holding few or no resources. I’ve reviewed all of these companies which you can find on this page.)

     
  11. SatayKing

    SatayKing Well-Known Member

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    That would indicate to me you've been peeking at prices and the like. Unless ya gonna buy stop it. Does nothing for your blood pressure, increased heart rate, mental stress and probably you're eyesight by looking at the bloody screen. Those are adverse health issues let alone money ones which in turn could exacerbate health issues.

    :D
     
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  12. SatayKing

    SatayKing Well-Known Member

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    Or a proxy.
     
  13. willair

    willair Well-Known Member Premium Member

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    After reading that i'm glad I gave up drinking ..
     
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  14. sfdoddsy

    sfdoddsy Well-Known Member

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    I only check prices when I have been drinking.

    :)
     
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  15. SatayKing

    SatayKing Well-Known Member

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    LOL. In the past some of my "better" decisions were made while under the influence. Well, that's what I thought until I sobered up.
     
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  16. Nodrog

    Nodrog Well-Known Member

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    He he, here’s a wee extract from the former @SatayKing back in the Shareguru day’s (2003). There seems to be a theme going on here. Those were the days:):

    AA4E674C-CF61-47B7-8102-356626979689.jpeg
    :D:D
     
    Last edited: 29th Jun, 2019
  17. SatayKing

    SatayKing Well-Known Member

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    Ah somethings never change - apart from the paucity of a wine cellar in my case.

    Spruikers will always exist as do fads, the next best thing together with the siren calls of easy money.

    It doesn't surprise me if some go down that path and feel pain when things go splat! I have. Thing is I think it is a difficult task to sell Booooring. There is no excitement to it and a booth at an investment show selling that product would likely to have zero customers while those having the pizazz on offer would be overwhelmed.
     
  18. Greedo

    Greedo Well-Known Member

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    Totally agree. Lucky my parents are very conservative otherwise they would have joined the Joneses..
     
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  19. Sannie

    Sannie Well-Known Member

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    Is BKI still at a decent discount to NTA? I was waiting for the price to come down to $1.45 and it never happened,@ $1.56/7 is it still a decent buy?
     
  20. Globetrekker

    Globetrekker Well-Known Member

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