BKI is a good LIC. But why would you diversify in your third or...

BKI is a good LIC. But why would you diversify in your third or fourth best LIC when you can keep pouring your hard earned money into returns that essentially will be the same. Transaction costs should be kept to a minimum - that means we make our money on very little or no activity (buying and selling). Those that make money are the institutions who encourage huge amounts of activity; that's there lifeblood.

Argo is a great company. I would not be unhappy, even at its current price to have that in my holdings and they were to close the ASX tomorrow.

Good pick up on DUI - its always encouraging to have the mindset of long term part owners join the register of the Melbourne establishment.

One interesting quote that I have drilled in and will continue to drill: "go where they arnt, not where they are.