peejay2, the fund needs some violent market movements in order...

peejay2, the fund needs some violent market movements in order to shift from neutral holding position. Presumably, if markets tank, they will have protected capital and then start moving into a net long positioning to capture the cheaper prices ahead of the next price recovery.

There is nothing worse for a neutrally long/short fund than an upwards or sideways moving market. They are destined to stagnate in their own stew. Markets either need to fall or stock selection needs to be brilliant for ALF to perform. Neither of which has happened over the last 3 years.

All LT holders are in the same position, so hang in there and if you can be courageous consider averaging down with the 15%-20% discount to NTA currently on offer. This is not personal advice, just a general observation.

DYOR and GLTA