Ann: Net Tangible Asset Backing, page-9

Valid points.

It is up to every investor to read the markets and decide whether a long/short fund will outperform in general in these markets and looking ahead. Not many have in the last few years.

ALF have admitted they have made errors in their approach and are changing staff and focus. Staying or buying into this find is a bet on management, first and foremost. Until I see an evidence of a turnaround, I have better opportunities available to me at this time.