LIC & LIT Listed Investment Companies (LICs) Q4 2018

That's the second one not to get off the deck. Surprising to some extent but maybe there is a bit of caution starting to arise with these offerings.

 

Very disappointing, I was keen on both of them.

 

It was definitely a quant of a thing to read.

 

Great presentation. Should generate value for remaining shareholders when half the people who see it rush to sell :S

 

Easy way of solving the issue is not to read them. Works for me.

 

I logged into CommSec and was able to request to transfer Issuer sponsor to CHESS. Apparently it takes a few days for the broker to process the transfer request.

 

When I rang Link on Monday morning to inform them of their SRN mistake I requested that they change it to my HIN.This they did & it was transferred by Link by Tuesday.

 

Hmm I emailed them and they advised me to do the transfer myself with my broker. Not very consistent advice. Thanks for letting me know.

 

They said the same thing to me.I said it wasn't my mistake as I'd copied the form I'd filled out,so they should fix it.Was told they'd check with 'their manager' & lo & behold, the next day,there it was, all fixed & done.So actually they were very consistent!!

 

The Listed Investment Company Showcase

 

Ok so the Magellan guy has raised a bit of a gripe I have. He said “don’t lose money” and describe the maths that if a stock goes down 50% it takes a 100% growth to get back to where it was. I find this irritating.
If a stock lost $10 off its price, whose to say it won’t jump back up $10 tomorrow? The percentage is a furphy, it’s $ that matter and the ability for something to gain/lose value (i.e. it’s volatility and the drivers of that volatility).
I think it’s just stock pickers trying to sound clever but it’s not exactly relevant.
Of course - happy to be blasted out of the water by people more educated on here

 

Which is why I didn’t even bother to look at any of the stuff in the link I posted. It’s usually just rubbish from those with vested interests. But some people like to look at such things so I post them accordingly.

 

I can't see why anyone would invest in WHF when there are better/cheaper options like AFI, AUI, ARGO, MLT.
Apart from their Bonus Share option (which AFI does as well and for a lower MER. Who knows if the other LICs mentioned also may offer this in future as well)I can see no advantage for a buy and hold never sell investor.

A turn off for me was when they issued new shares not all that long ago and diluted their remaining holders who chose not to buy more (retirees). This on top of their fee!

For my part if they just matched AUI in price and stuck to their main use (industrial LIC) I could see some merit, but as they are I can't see any.
Am I missing something?

 

I am totally with you on this.

If you have a share portfolio worth, say $1M, and it drops 5% in a month , then 5% doesn’t sound too bad.

But that is $50,000 and you blew it in a month (on paper). That sort of money gets me a good overseas holiday .

BTW:- VAS has dropped 5.88% in the last month.

Ouch. Note to oneself:- don’t look at the sharemarket when it ain’t rising

 

Argo had a good annual general meeting yesterday and a good presentation too!

 

Any highlights or insights from the ARG team worth sharing? Perhaps a focus on mid and small caps etc.?

Was there much discussion about Labor’s proposed franking credits policy?

 

Currently checking this forum whilst at work! However argo's website has the full video stream of the meeting as well as asx announcements has the complete powerpoint presentation/slides!

Hope that helps!

 

More importantly what was your recent VAS distribution? That’s all I’m interested in. A decent amount it was too, maybe enough for a smaller overseas holiday.

 

The market tends to drop quickly and move up slowly, these percentage examples are usually talked about when promoting stop loses etc

Commentators oft talk about lost decades without considering dividends, or bargain hunters scooping up bargains

 

Also i must add the sea of grey hair in the crowds! Very patient long term investors!