Ann: Net Tangible Asset Backing, page-28

You all need to understand the way these funds work. The ASX has rallied alot recently, 10pc, and these guys are trading pairs and are close to neutral exposure. They are no duds, and know exactly what they are doing. Everyone knows the market is overheated and Trump could bring the whole show down! I'd rather have money in ALF than a long only fund, in the long term.

Time will show momentum will shift, as markets can only be super optimitic for so long, with household debt at record highs and interest rates super high.

Just B has every right to be cautious, as am I, with 85% cash.