the worst of about 20 lics, page-4

Thanks Barney

I think I can

You're looking at NTA- try cashing that in. Share Price buddy- thats what matters

I went on their web site and found the Bell report you mention.
It can be found here. http://www.contango.com.au/ctn_contango_microcap_research.php

Forget the NTA as I say.

I am looking at page Page 9, Table 8, and it shows they have done a PER ANNUM share price return (which adds dividends) of 19.2% for the last 3 years, which you note you have been a holder

Let me put that in perspective

Over the same 3 years that CTN gave you and me 19.2%pa, the following LICs have returns of

AFIC 9.7%
Argo 8.2%
Djerri 9.7%
Aust Unity 5.2%
Milton 10%
BKI 14.1%
Carlton 13.7%
Whitefield 12.7%
Clime 13.6%
Flagship 3.6%

This is per annum for the 3 years

And CTN have returned 19.2% pa

Can I ask just what you regard as "Can anyone explain these apparently abysmal results in a more positive light?"

If that is abysmal I'll buy your shares off you any day of the week at 5% premium to how bad you thought they were

If this is the worst of a list of about 20, I'd love to know the other 19 mate!

Can I also knock your socks off by bringing to your attention (I mean surely you understand this??)

The returns to June 30 2013 of the following indexes performance over the 3 years (I got this from page ?? from their June quarter Investment Commentary

Small Ords -2.0%pa
Micro Index (Emerging Companies) -8.6% pa

And I know the All Ords did 8%pa over that 3 years

CTN 19%pa over that 3 years

Abysmal???

If you look at 1 year yes, it was one of the worst.

The Small Ords did -5%
The Micro Index did -30% (!!)
CTN Investment portfolio did -5.6%
CTN share price gave us 7.6%

I think we should be sending them a thank you card for what they did last year.


My tongue in cheek questions Barney are

1. What are ya smokin buddy!
2. Do you really understand LICs?
3. Do you really understand microcaps? (hasn't most every other micro been smashed the last 3 years for you too? Struth- if only some of my other micros did 19%pa over those 3 years
4. How can you be cranky, when they've treaded water in the worst period for smalls, and small resources since Adam, and given you 19%pa over that time?


Now lets look beyond those June 30 numbers

The August NTA has shown that on top of those returns, the portfolio grew 6% in Aug and 9.8% in July.

Never mind the end of tapering and how the smalls are bumping today.

What ISN'T to like about this company?

DYOR- nervous about US debt ceiling next month, positive all other things