Ann: Daily share buy-back notice - Appendix 3E, page-73

Nic. No disagreement with anything you’ve said. More wishful thinking than anything else, although it would be a good outcome if it were to happen. geoff would be buying well under NTA, ALF shareholders would get to realise closer to NTA, and although there would be a clearing process, Geoff would get some international shares for the global fund and some domestic stocks for WLE or CYA and get rid of the shorts.
Yeah, I agree that it could be a bridge too far !
Shouldnt fundamental differences in business anyway, also relate to making a decent return for shareholders?
In that regard, friendship with Justin should have nothing to do with it! The fundamental difference with ALF and a lot of other LICs is that they are making good returns and ALF isnt !
I know Geoff must be raking in The dollars on a personal basis, but I wonder how much it goes against the grain to have his money sitting in ALF doing almost nothing ? He doesnt strike me as particularly ruthless, but then again he is one smart boy and used to making critical assessments ! On that basis, it makes sense. (Of course, just because I think it makes sense, doesnt mean it will happen.... (perhaps never !)