Please Explain, page-45

Eh Jack, tongue in cheek... but the managers have been taking the stock downhill for at least 18 months with I think my average price is $1.18. To actually LOSE share price value for a period longer than that, then as you observe, that it will probably "need" 18 months to recover: thats 3 years of zero performance apart from the dividend. You have only been "sucked deeper and deeper into the stock" over the last 6 months. We less fortunate have been watching this erosion take place for years. I dont know that as an investor I should NEED "to talk (sic ?) a deep breath and look away until the picture is better"
I think that as an investor, I need to be focused on where I am investing my money... but when I invest in an LIC, isn't that what the investment manager should be doing ??????