LIC & LIT Listed Investment Companies (LICs) Q3 2018

Interesting, but not a big fan of Mr.Carlyle.

 

Here’s a question to rile you up:
Take your favourite dodgy high return LIC, take their return % history of course BEFORE performance and management fees... how do I start to allocate those fees to work out true returns? I can do that in great spreadsheet detail of course or can I use EPS or something similar as a simple indicator?

 

NTA history

 

No opinion. Just posting stuff that finds its way to my inbox.

 

It was the fear and greed index, that really turned me into a stock lover! I clearly remember reading It, it was a Saturday night, I was sitting in my bro in laws back yard with afew other people reading out the booms and busts since the late 1800's. Everyone around me kept pointing out how terrible life would be if you invested in stocks as there were huge drops in relatively short periods of time. I remember thinking, how amazing it is that the markets drop by that amount in a short period of time and how property doesn't usually give investors this opportunity.
I love how the anti stock brigade always give a single stock example I.e TLS or AMP and quote the highest they've been and then go on and tell me how low they are now. Or the old 'how much was the asx in 2007 and then tell me how much in 2009'.
I always look at the markets as going for a swim in uncharted waters, if you dive in(lump sum) then it might be a case of sink or swim, if you gradually waddle in (DCA) chances are you'll feel comfortable, adjust to the water temp and enjoy your swim.

Motto of the story, I loved reading the fear and greed index and even though the latest articles push an agenda and state the years of a bear market, I now look at them as more time for me to average down

Short message..
Thank you mums and dads, short term investors and traders I look forward to the next opportunity you will grace us with xox

 

Is anyone able to explain to me how the pre-tax NTA for QVE going up $0.01 from $1.23 (June) to $1.24 (July) equates to a change in pre-TAX NTA of +1.6% for the month (per their NTA announcement today)?

 

Probably a rounding issue.

Maybe NTA was $1.225 last month, rounded up to $1.23.

Performance was 1.55%, rounded up to 1.6%.

So underlying NTA went from $1.225, to $1.244. Hence rounded it becomes $1.23 to $1.24.

 

I noticed Milton's MER has increased from .12% to .14%!!! Greedy Buggers!!!!!

 

Stressful isn't it?

You're right though as it was 0.12% if Feb, then to 0.13% until June and now 0.14%as you say. I'm really going to get some sleepless nights over this.

 

Thin edge of the wedge!

 

Forgot to say, you're an eagle eye - thanks for picking up the small change and passing through - community service in action!

 

A 16.5% increase in fees is reasonably substantial.

 

Haha, now that Mr Gooch has departed watch those fees start climbing!!! Get out while you can!!!!

 

In other boring lic news argo's dividend is up, profit up and mer % is down! As PT would say "when profit becomes boring"

 

Speaking of Argo... A 'new bad' needs to emerge for bank stocks to go lower

 

Interesting snippet from the above article about Argo:

"Argo was formed in 1946 and one of its previous chairmen was Test cricket great Sir Donald Bradman, who worked as an Adelaide stockbroker when he retired from the sport."

 

https://cdn2.hubspot.net/hubfs/2891347/Patersons Research July 2018.pdf?t=1534118585994

 

Today AUI turn.

Not complaining



Cheers
Oracle