Marlin

[winner69]

I thought July was a real "make hay" month!

was for carmel

[Joshuatree]

The D/Y on Marlin and Baramundi look Fab, how do they do it?. OK found it They're committed to paying 2% quarterly and if necessary will liquidate part of its capital base and return it to shareholders tax free. So how does the discount NTA to S/P remain if theyre doing that?

[winner69]

The D/Y on Marlin and Baramundi look Fab, how do they do it?. OK found it They're committed to paying 2% quarterly and if necessary will liquidate part of its capital base and return it to shareholders tax free. So how does the discount NTA to S/P remain if theyre doing that?

Wondering when you would catch on .... not a real divie is it .... its called seduction

Implications once discussed on this or soome other thread

[Joshuatree]

Thanks for wondering all day about me. Amazingly its never been mentioned on this thread.Def seductive div alright.

[Balance]

Wondering when you would catch on .... not a real divie is it .... its called seduction

Implications once discussed on this or soome other thread

Last NTA update - 82.81 cps on 14 Sep.
Sp was 69 cents = 17% discount.

Market is not dumb and is telling you something profound.

The decent thing to do is wind this fund up and return the full 82.81 cents back to unit holders but she will not do that and there is nothing to compel her to do that.

Just a lot of small time retail investors without clout to force her to perform or to return the funds.

What Carmel Fisher is doing is cleverly dragging the life-span of this miserable lousy performing fund out - so that she can maximized her fees year on year until she has bled the last cent out of it into her Gucci Italian silk-lined pockets as she tucks into the caviar and cries softly into her champagne, sitting on the balcony of the 6 star hotel overlooking the Eiffel Tower.

Oh, the Bentley is waiting downstairs?

Throw a few crumbs to the pathetic peasants and they should consider themselves lucky they are even getting the crumbs. Must remember to wave to them.

[CJ]

Last NTA update - 82.81 cps on 14 Sep.
Sp was 69 cents = 17% discount.

Market is not dumb and is telling you something profound.

The decent thing to do is wind this fund up and return the full 82.81 cents back to unit holders but she will not do that and there is nothing to compel her to do that.

Just a lot of small time retail investors without clout to force her to perform or to return the funds.

What Carmel Fisher is doing is cleverly dragging the life-span of this miserable lousy performing fund out - so that she can maximized her fees year on year until she has bled the last cent out of it into her Gucci Italian silk-lined pockets as she tucks into the caviar and cries softly into her champagne, sitting on the balcony of the 6 star hotel overlooking the Eiffel Tower.

Oh, the Bentley is waiting downstairs?

Throw a few crumbs to the pathetic peasants and they should consider themselves lucky they are even getting the crumbs. Must remember to wave to them.

Some funds like this have a wind up clause if the discount to NTA is over x% for a period of time. I am guessing there isn't one on this or the x% is too high.

[OldRider]

From my data there are very few LIC's worldwide trading above NTA

For Australia http://www.asx.com.au/documents/prod...ugust_2012.pdf

It seems to be the same in Britain. The only example I know from those I follow
is Polar Technology Trust. Perhaps some of the opinions are too harsh?

[777]

So right OldRider.

[Balance]

From my data there are very few LIC's worldwide trading above NTA

For Australia http://www.asx.com.au/documents/prod...ugust_2012.pdf

It seems to be the same in Britain. The only example I know from those I follow
is Polar Technology Trust. Perhaps some of the opinions are too harsh?

But have they performed and delivered returns to investors?

A discount to NTA is fine if unitholders are getting performance.

It is obscene when only the manager makes money.

[ratkin]

But have they performed and delivered returns to investors?

A discount to NTA is fine if unitholders are getting performance.

It is obscene when only the manager makes money.

MFF is an example of a properly run alternative. listed at a similat time as Marlin, battered by the
financial crisis but had a consistant strategy of buying quality at bargan prices.
The gap to NTA has now narrowed as their quality is starting to be recognised.

I know the Fisher funds are buying much smaller stocks but some of their purchases
and following sales have been bizarre to say the least, there at times appeared to be
no consistant strategy , except buy high , sell low