LIC & LIT Listed Investment Companies (LICs) 2020

Great post!!

Once you discover PT and his beliefs (and that he likes chicken?!?). After a while i stopped worrying about what individual shares that he invested in. And was more interested in his ability to invest in all stages of market cycles. Especially the crashes!
Most serious downturns i would stop investing, i wouldn't sell. But would only be an observer.
His EQ is awesome! I'm working on mine for the next serious downturn..

 

Hard to do. I suspect very few achieve or have that ability.

And I'll say it again no matter what anyone thinks of PTs methods or choice of investments it must be admitted he stays with it through thick and thin. A very focused individual.

Bugs the heck out of me when others snipe at someone's preferred method of investing. From the little I have read about him, I don't recall him denigrating other people's investment methods. Sure he will argue his case about what he does and why but I don't think he puts other people down.

Breakfast with coffee time for me.

 

If that is the situation there is only one course of action available to me.

I'm buying.

Disaster. Dropped the French press and it shattered. Way too eager to get caffeine into the system.

 

I have one I never use. My GF got given a posh le Creuset one as a gift from a friend, and at some later stage dropped the lid and chipped it. A small chip. So she felt she needed to replace it with a newbie in case the friend ever visited. Friend promptly moved to the US.

So I took the chipped one and, as I was intending selling my apartment, thought it would look nice in the photos that would be taken - chip to the wall, obviously - so it's sitting there unused, next to the espresso machine which also doesn't get much love these days, It will look good when I eventually sell the joint.

Not a fan of french press coffee, alas.

 

Morning all...

This talk about viewing investments not as capital but as income struck home with me because that's what I've been doing for a while. Been telling myself that I can afford to retire when the income I can generate - in perpetuity - reaches $X, not when the asset base has a capital value of $Y.

I've also been running the same spreadsheet for over 10 years now. Updated every fortnight on payday - first thing I do at the office every second Thursday. It's quite revealing as it essentially has a total assets column (I don't own investment property so it's easy to boil it all down to a single number) and the "magic" of compound interest / returns is truly a wonder to see, the longer it goes on.

I've just spent half an hour darning business socks. I decided that seeing I had not too much time left working for da man I might try not to spend money on new business wear if I could avoid it. Very disappointed to have had to have bought 2 new shirts a couple of weeks ago, so I'm relentless on the socks. I'm thinking of starting a FIROT blog (Financial Independence Retire On Time) because FIRE blogs are a dime a dozen and alas I'm probably not going to go early. My first post will be "How to save $20 a year by keeping your toenails trimmed..."

 

I was actually seriously weighing up whether I should buy more black socks when I found myself unexpectedly retired! I haven’t worn socks for 2 months!

 

Sssssh, compounding interest/income is secret investors business. Don't tell anyone. They probably won't believe you anyway so it'll probably be safe.

Stainless Steel replacement ordered.

The trick with buying socks is to buy a dozen pairs of the same. No problems then with losing one or two in that portal to the alternative universe of missing socks ie the washing machine.

 

Ditto.

 

I think we are bombarded with prices. News reports, publications, value of "your" super, charts, percentages, projections. A whole variety of information - assuming it is actually that - on prices and price movements every business single day. Entire industries dedicated to it. So it's no wonder it is the major focus. Any mention of dividend income is close to being a throw away line and not worthy of consideration because the price is.....

And when prices do drop substantially, you will encounter those who will tell you "I told you so" in which case you'll need to reply with "Yeah, I missed that one badly unfortunately. Bummer."

And should you encounter some who is down in the dumps because their super went down $xxx thousand, it is not advisable to approach them with a smile on your face and a spring in your step while declaring "Happy days!!"

Life is not meant to be easy, my child; but take courage: it can be delightful.
GB Shaw, Back to Methuselah

 

Are we talking Stocks or socks here.... Confused

 

Yeah, I wasn't very impressed with this release

 

Yup, gets to me as well when the divvy is for a six month period and the reported EPS is for a twelve month period.

Nothing too much to worry about.

However, since I don't hold BKI....

 

Re BKI’s Mgr (Contact) I see takeover of LIC (URB) by TOT has concluded. It was a stupid idea for a LIC in the first place in my view so not surprised:

 

This is the LIC thread. So naturally nothing to do with the share market

 

This thread on some days

 

Correct.

Australian Sock Exchange.

Plus coffee and lots more interesting stuff.

 

We can exchange socks?

 

Hanesbrands (NYSE:HBI) is a parent of Pacific Brands Underwear Group, known under its core brand Bonds

So.. sock stock?
But that's not an LIC... hmmm..

 

BKI:

Cash and Cash equivalents: $81.3m
Current Liabilities: $1.7m

Worry level on solvency to be applied = not very much.

Cash outflow from investing: $9.1m negative compared with $105.6m negative pcp. Seems they have been wading in to the market over the last twelve+ months.

Synopsis: Have a coffee and chill.

However, those more experienced/aware in these issues probably have a better perspective than mine.