LIC & LIT Listed Investment Companies (LICs) 2021

Discussion in 'Shares & Funds' started by Ross36, 1st Jan, 2021.

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  1. SatayKing

    SatayKing Well-Known Member

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    Thanks but I don't consider it deserved. They have made up their own minds and it could just as easily gone the other way. However, things generally work out OK 95% of the time.

    Same kind of thing when I was the Trustee of the TT. I was asked not to actually distribute the funds with the "Oh no, I don't know what I would do with it yet" approach. So the money was retained as Unpaid Trust Distributions for quite some time and built up. Fine by me. I only functioned on their behalf for their benefit despite the protestations of some professionals about it. I suppose the professionals were technically correct but, hey, technically correct doesn't always work in some situations.

    And it was finally resolved before I handed over the administration of the thing so no real practical problems. Paid for cars (well used ones), holidays, dental work not covered by their health insurance, paid some tax bills, some investments, super contributions and things like that. And why not; it's their money.

    I consider them very fortunate in a financial sense.

    And I am also under no illusions what I am now doing will ensure their affections. Anybody who does think that is what it takes has got rocks in their head.

    Time for a coffee before dinner. Home made chicken wraps. There goes 1 ARG share or maybe 1/4 of a STW unit. No idea but I do know I'm hungry.
     
  2. Globetrekker

    Globetrekker Well-Known Member

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    Well, never underestimate the power of a good role model for your children to see (even if it takes a few adult years for the lessons to properly sink in). I was lucky enough to have two who were polar opposites - my biological father who was academically gifted but completely lacked any financial common sense, was constantly in debt and died bankrupt and unhappy; and my stepdad who counted every cent and financially set up my mother and disabled sister for life before he died prematurely. Neither of them really ever spoke to me about money, but geez they both taught me equally valuable lessons on actions and consequences which I appreciate more and more as I get older!
     
  3. SatayKing

    SatayKing Well-Known Member

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    My apologies for my rather surly post yesterday afternoon.

    I was in a foul mood after attending a financial presentation which is sometimes offered to we seniors. I thought it could be interesting. But it was a mistake attending.

    The presenter was OK, stuck to the script, provided a general overview and was pretty good I thought although nothing new raised.

    Some of the attendees though! Usual smattering of those with property in their super fund and now having issues with allocated-pension or concerns with their shares mostly directly held. All the stuff associated with bailing out to cash last year and now what to do. Woe is me was the flavour. Not all but a reasonable proportion. It was turning into more of a Gimme Club in some ways. Guvment gotta do something. It did. It gave you choice and generous tax concessions.

    Funniest or saddest thing was one lady whose ex had put money into some sort of account for their adult children. She was in a quandary about it as the money was "tainted" in her view. Lots of sympathetic murmuring. Sheesh, unless he did it with a gun pointed at his head, how on earth is the money "tainted?"

    I don't know. People and attaching their emotions to money I find disheartening. If the fella did it willingly, just give the kids the funds and be done with it.

    Anyways, at least the biscuits were OK although the coffee was pretty so-so.
     
  4. ChrisP73

    ChrisP73 Well-Known Member

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    @SatayKing Well at least you won't make that mistake again! You know better. Sounds horrid! If you're tempted to do this again, make it easier on yourself and buy a "newspaper" or turn the television around 630pm. That will cure you quickly and save you the bother.

    Unless of course you just wanted an outing and biscuits
     
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  5. twisted strategies

    twisted strategies Well-Known Member

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    *** Funniest or saddest thing was one lady whose ex had put money into some sort of account for their adult children. She was in a quandary about it as the money was "tainted" in her view. Lots of sympathetic murmuring. Sheesh, unless he did it with a gun pointed at his head, how on earth is the money "tainted?" ***

    possibly earned from illegal or immoral sources

    but heck the government doesn't care it will create a new law to seize it ( if it can )

    i hope she doesn't lose sleep over something the government would readily accept ( the cash proceeds of )

    but attending was probably a mistake , it is likely to jade your view of investments
     
  6. SatayKing

    SatayKing Well-Known Member

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    Could have been the particular mix of attendees on that day. Another time it may have been different. However, I'm unlikely to take up such an offer again. I don't need bad coffee.

    What's on television at 6:60 pm? Number 96 or something equally unwatchable?

    Draw your head in. You have absolutely no evidence that is the case. I don't know and you certainly don't. It is quite likely it was totally legit based on what I heard.
     
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  7. twisted strategies

    twisted strategies Well-Known Member

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    well she thought it was 'tainted' and many a female i have met had razor sharp instincts
     
  8. geoffw

    geoffw Moderator Staff Member

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    A lot of money is tainted. Taint yours and taint mine.
     
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  9. SatayKing

    SatayKing Well-Known Member

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    Noice. Odd how some minds contort printed words into another meaning when they were not in attendance to hear the nuance of the spoken word.
     
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  10. twisted strategies

    twisted strategies Well-Known Member

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    'tainted ' is a very flexible opinion , i know some people ( extended family members in fact ) that take a very dim view of folks that sell alcohol , gamble on cards , races , etc. etc etc

    and of course many legitimate business travel a path very close to breaking a law or two ( say in the tax minimization area )

    and of course money circulates through the economy the $50 in my wallet may have bought contraband four or five transactions back ( or paid for cigarettes bought at the supermarket i shop at )
     
  11. Aston Marersa

    Aston Marersa Active Member

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    Bugger LICs. This page is more about how antibodies work.

    WHF at $5.60? Can't bring myself to buy it here.
     
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  12. SatayKing

    SatayKing Well-Known Member

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    But somebody will. :)
     
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  13. Aston Marersa

    Aston Marersa Active Member

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    They might, one of the tribulations of getting into the less liquid I guess. <$30k will take out all available selling liquidity at the mo'

    She'll drop back to earth a bit, the old girl always does. Love her, let her fly away, she'll return. There's no hurry.
     
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  14. SatayKing

    SatayKing Well-Known Member

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    I'll do you a favour and place a buy today. Generous to a fault but that's me. :D
     
  15. Aston Marersa

    Aston Marersa Active Member

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    I see what you did there but you're up against a Zork master.

    >wait
    Time passes...
     
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  16. SatayKing

    SatayKing Well-Known Member

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    Dang. Was worth a try but.

    Last bought WHF in December 2020 to round holding to x,000 after the dividend was paid caused by partial DRP.
     
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  17. pippen

    pippen Well-Known Member

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    Every holding must be rounded up to nearest ,000 @SatayKing
     
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  18. Aston Marersa

    Aston Marersa Active Member

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    I thought I was the only obsessive that did that. Given the liquidity, perhaps the week following DRP/DSSP the bulk of trades are those of us rounding up.
     
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  19. SatayKing

    SatayKing Well-Known Member

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    Saves me a heap of money booking time on the $50m super computer at the ANU to solve the equation x/2.
     
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  20. JCD

    JCD Well-Known Member

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    Hi satay king,
    My daughter has just turned 13 and I have explained to her about investing. She is keen to get started. If I were to set here up with -10k as you did with your kids, would you use a similar allocation as you previously posted for your kids historical performance?
     
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