As at Sep 2007, ARG had 1,784,810 TAH and 1,299,000 TTS. This...

As at Sep 2007, ARG had 1,784,810 TAH and 1,299,000 TTS. This means Friday's plunge in these two stocks cost ARG ~$6.73m, or ~0.15% of its total assets. The market clearly overreacted, pushing ARG's SP down 2.3%. This was despite the fact that the rises in its three largest holdings (BHP up 0.4%, MQG up 4.5%, RIO up 0.6%) would have more than offset the losses on the gaming stocks.

I'm a huge fan of ARG and some of the other LICs, including MLT and CHO. As I started investing in ARG around the $8 mark, I am thoroughly enjoying the bear market as it presents me the opportunity to invest for the long term at very reasonable prices. ARG is a top-class, well diversified investment company that I plan to keep accumulating. To quote Mr Buffett: my favourite holding period is forever.