Marlin

[Balance]

finally though to get back to your main point.. MLN has been paying on average 7cents per share per year over the past 10 years.. so 70 cents Plus as off this week around 80 cents per share.. thats 1.5 dollars per share total.. if you look at any hedge fund manager, the number one rule is guard your capital first by tweaking this "ALL WEATHER PORTFOLIO" and then go ahead with perhaps 20% of your portfolio on "GAMBLING" or taking bets - A.K.A to pick certain stocks, do trades, or use your magic ball to forecast the next crash like Martin Hawes

just go into a global index fund in the DJI - you would have outperformed Marlin by leaps and bounds.

[smtrader]

just go into a global index fund in the DJI - you would have outperformed Marlin by leaps and bounds.

I don't disagree with you some funds are better than others.. principle is should diversify your exposure to funds as well, but its a complete mistake to negate them, and anyone who does will get bitten during a downturn.

[mfd]

I don't disagree with you some funds are better than others.. principle is should diversify your exposure to funds as well, but its a complete mistake to negate them, and anyone who does will get bitten during a downturn.

If you're after insurance in case equities crash, wouldn't you be better off with cash or bonds than a more expensive exposure to equities?

[smtrader]

If you're after insurance in case equities crash, wouldn't you be better off with cash or bonds than a more expensive exposure to equities?

Bonds should be held all the time as a % of your holding.. so is cash precisely for a crash (assessed & adjusted from time to time depending on certain measures you take into account such as VIX etc. and your macro economic outlook) but you still need a % explicitly for funds (a combination of them to have a balanced exposure across continents, markets, industries, cycles & securities[including funds that primarily deal with bonds]) .. you need that for a balanced portfolio..

The point i was making earlier was that a specific allocation for funds is necessary if you want a to safe guard your capital and have modest balanced return with less hands on approach. A combination of a few is best for risk management. MLN or other funds should be part of a balanced portfolio.

I love making bets.. picking stock or using other instruments, i'll win some and loose some, but i'll be naive to think i know best. And it will be only part allocated for my betting portion.. i'd like to know the rest of my holdings is balanced out to give me solid steady income stream overtime, with the upside of gains and the peace of mind that i can go on vacation and shut down my computers and get off the grid whenever i want

[percy]

....and the discount to NTA is essentially the present value of future management and performance fees

Ecactly.!!!!!!!!!!!!

[percy]

You are a fund manager's dream investor!

Give them $1.00 and they pay you back part of it every year as a 'dividend' while charging you management fees on what remains of the $1.00 - what a wonderful scheme!

Right on the money,as per usual.!!
A lot of us have made a lot of money following your advice,and most probably more importantly, you have also saved us losing a lot of money.

[Sideshow Bob]

I held Kingfish for a reasonable while - mainly as a default holding for NZX and a place to park some money. Did quite well out of it between divvy reinvestment and market growth, however was always conscious that the divvy payout ratio wasn't sustainable, especially when look at the holdings. The divvies from these were not enough for the Kingfish payout - so coming from capital. Could argue whether capital vs capital growth is funding it - but essentially the same thing - as in the end it ain't from divvies received. A major downturn would see these majorly punished.....

[Balance]

Good case in point of what this fund is about :

Quarterly dividend of 1.72 cps.

https://www.nzx.com/companies/MLN/announcements/282841

But fund actually lost 6.2% in the quarter.

https://www.nzx.com/companies/MLN/announcements/282215

Dividend yield story? More like dividend yield fairy tale!

Amazing how many fall for this trick/illusion of 'performance' so manager can keep clipping the management fees etc.

[winner69]

Good case in point of what this fund is about :

Quarterly dividend of 1.72 cps.

https://www.nzx.com/companies/MLN/announcements/282841

But fund actually lost 6.2% in the quarter.

https://www.nzx.com/companies/MLN/announcements/282215

Dividend yield story? More like dividend yield fairy tale!

Amazing how many fall for this trick/illusion of 'performance' so manager can keep clipping the management fees etc.

Wonder how many shareholders reinvest their divies - Marlin TSR return calculation assumes they do

Balance - you understand this Adjusted NAV calculation

[BIRMANBOY]

Lol...following anyone's advice is just ludicrous and then you choose Balances advice ????....the poster who has yet to make any positive comment about any share anywhere at any time as far as I can see. I did look at one point but gave up after an hour.

Right on the money,as per usual.!!
A lot of us have made a lot of money following your advice,and most probably more importantly, you have also saved us losing a lot of money.