Discount to NAV still about 6% - that's about $8m - about right as the present value of future management fees.
Where do those management fees go?
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It's heads, Fisher Fund wins.
It's tails, Fisher Fund wins even bigger as a proportion of investors' losses.
Warren Buffett warned against investing in index-hugging poor performing fund managers decades ago and in recent times. We actually have posters here encouraging investing in poor performing fund managers!
Come on Balance; i can't and won't take responsibility for other peoples investments decisions here previously or if Carmel turned you down for a date in previous life:).Get with the present. BRM is like an on call bank account paying a great yield if one buys at the lows. IMO DYOR
Im foiling to your gybes :). Im not encouraging anyone to do anything except providing rebuttal and what has worked for me having a smallish exposure to BRM has given me income that the banks can't provide albeit with a little more risk.
I can show you a way to get a much better yield from your bank term deposit.
1/ Invest $10,000 at 2% pa
2/ At the end of the year you have $200 in interest due (yay).
3/ Pull out $1,000 of your capital and just reinvest $9,000 for the next year.
4/ The yield on your $10,000 one year investment becomes:
($1,000 + $200) / $10,000 = 12% !!!!!!
Absolutely fantastic, and here is the rub. BANK STAFF WILL NEVER TELL YOU THAT YOU CAN DO THIS! I call it 'Doing a Carmel'
SNOOPY
Thanks Balance, have had a look at chart and announcements.I agree the chart has stopped going sideways and has dropped away in March after Carmel Fisher announced her intention to retire:eek2: but its only in the last month thats it gone from 62c to 58c ,59c atm. Will watch for a possible top up.
Yes i know whats going on Snoops , but i didn't buy away back then at what was it , I'm guessing $1.20?