LIC & LIT Listed Investment Companies (LICs) Q4 2018

As mentioned by @Nodrog @SatayKing in their previous posts. Due to over subscriptions, you may not be allocated any shares! if so, the fund will be refunded to your bank account (usually a couple of weeks after the closing date). But others may be able to advise further.

 

Recently changed to CMC Markets for one of the entity's and have been flat out at work, so haven't added to the ETF's of late so there's some cash waiting to be deployed

 

I topped up on VGS and VAS the last couple of weeks when my pay came in. I have to admit it was a little disheartening to see it all take a hit with this week’s volatility! I was tempted to sit on my hands for a bit but didn’t want to break my rule of purchasing every time I have a large enough parcel. I also didn’t want to start the habit of agonising over when to buy in.

If volatility continues as it has done these last couple of days I’ll just buy in on those opportunities then as money comes in. At the moment, to put it in perspective, the market has only dropped a couple of %. Hopefully Alex’s predictions come true and we will see the market correction we have been waiting for!

 

I was already a holder of PIC & received my entitlement offer,subscribed to the general offer too but nothing as yet received.A friend had already received a reduced amount on general offer so I rang Link services yesterday & they had no record of receiving my payment.I gave them my payment details & they are investigating this & will call me back.Perhaps it might be worth your while to do the same.

 

Tha

Thank you @monk will call them on Mon.

 

That's bad. Not heard of it happening before but anything is possible. Hope it works out in your favour. Same goes for @Anne11.

I assume you printed (PDF or other format) a copy of the payment transaction and it also shows in your bank account as having been paid.

 

Yes SK, thankfully I do have copies & the payment shows all details clearly on bank statement as well.While I feel too for Anne11 am somewhat relieved that I might not be the only one in this situation. Before I realised I had a problem,thought I'd just missed out, so managed to pick up a few extra during 'the carnage' on Thursday at $1.11 so happy with that.

 

That is just insane. But LICs were meant to be those boring investments that the traders looked over....

 

Froth, froth, froth. Where the catalyst for the day of reckoning will come from and when no one knows. Perhaps a Labor Government and loss of franking credit refunds? Regardless of the reason choose wisely!

 

A couple of interesting things to me about the graph. The number of LIC's listed in Jan-10 reduced in Jan-13 and then quite rapidly increased to about 110 in Jan-18. Blowed if I can remember what happened in Jan-13. It doesn't matter really - to me at least - just a curiosity.

The other aspect is it doesn't show how much in the way of funds raised just the market cap. Unless the LIC is wound up and any capital returned, when the poo eventually hits the air conditioner the managers will still have those funds. And I wonder what the split is between retail holders, SMSF's and those industry/retail funds which allow selection.

Too early in the morning to contemplate such matters. Coffee, breakfast and then off.

 

Scale is deceptive for impact, number of LICs has less than doubled. Things are excitable right now so lets throw some fuel on the fire

 

Yes, I agree. I was interested in the more sudden rise in LICs, compared with the ups and downs of the years before. As a quick glance, it's interesting but to understand the full impact, I would want to see a much longer timeline, and including other share classes; it may be a trend over the last few years across the board.

 

Also
The reasons LICs have come-of-age

 

Good on you @FruitCake

I'm not certain on many things but I am certain on the following:

The person who follows their system might appear and feel to have lots of short-term losing outcomes but in the end their discipline turns them into the big outperformers.

The person who is prepared to break their system and always seem to get a winning result from doing so in the short term (forums are full of them.... yaaaawwwnnnnn) tend to get crucified by their lack of discipline in the long run.

Long term system discipline, not making the right hindsight short term move in the current market, is what will deliver you wealth in equities over the long run.

Markets are a probabilistic beast - All you can do to be a good investor or trader for that matter is concentrate on your 'system' and ignore the short-term outcomes. Short term is random, pot luck, but a smart system (such as always investing as soon as possible) applied over many occurrences and the law of large numbers will see you certainly come out in front long term.

So Kudos to you @FruitCake for posting something a bit more interesting than the standard look how I nailed the short term move.

 

I agree with you completely. I will have a decent chunk to invest after December, so I am hoping Alex continues his excellent prediction form and December is indeed a market low. It’s going to be spent then anyway.

 

Thanks @dunno I owe a lot to the many contributions on this forum from yourself and many others here.

Even if the big crash didn’t happen I’ll still buy a parcel as my pay comes in. I’m pretty sure my employer is not paying attention to market movements when they pay into my Super either.

 

Any thoughts on the hearts and minds ipo? If I read it correctly there are no management fees however they make a 1.5% donation every year to medical research?

 

Hearts & Minds. Not for me. In any case, I'll make my own decisions on where donations I make will go. And a wicked thought crossed my mind. Do these managers record the donations as a tax deduction in the books?

 

Where have you been all my life