This blog post is referring to a very old study of Closed End Funds (CEFs) that I read this year. CEFs are the equivalent of what Australian investors usually refer to as LICs. The study discusses in detail the typical life cycle of CEFs. It talks about why they often swing from premium to discount, and then back to NAV in a fickle manner. Continue reading “Have We Learnt Nothing from Investing in Closed End Funds / ASX LICs in the Last 30 Years?”
Here are some links I have found interesting to read over the last month or so. Continue reading “VALUE INVESTING READING LINKS FROM FEBRUARY”
When I look back at my investing mistakes, one common theme is rushing into a new purchase. I find I have usually done better when a number of months pass until I begin accumulating a position in a new idea.
When investing in LICs I try to make sure I have considered numerous factors first. That helps me avoid getting itchy fingers and hitting the buy button quickly. Continue reading “LIC Investing – 10 factors to check before buying.”
Around late September it struck me that some investors buying WAM Capital (WAM) & WAM Leaders (WLE) may not have considered some alternatives. Was there potentially cheaper back door entries into these stocks available? Continue reading “WHICH WAM LEADERS TO FOLLOW, SPECIAL SITUATION INVESTING & APW”
When I come across articles about how Australian investors need more diversification it often does not refer to potentially changing tax laws. There is a bit of overlap with these themes but there are different issues to consider.
I have commented on the CYA situation numerous times on the blog. One of the reasons I started blogging is I find it a useful discipline to force me to go back and look at my notes when I entered a stock. I first purchased CYA in September last year thinking that over the next year or two it was highly likely Wilson would gain control. Continue reading “WIDE RANGE OF RECENT SHARE PRICE PERFORMANCE IN THE WILSON STABLE”
Is WAM a good investment?
Previously I couldn’t see much difference between CYA and WAM (apart from WAM costing 30% more!) although today’s announcement has clarified things to some extent.
If I had to bet on a couple of corporate re structures to occur in the next year or two, they would be for WAA to merge or takeover another investment company to gain size, and CYA to be rolled into a re-branded entity to assist in the market fully valuing assets on hand and the tax losses on the balance sheet. Continue reading “Time for Wilson & Century Australia to get together?”