hi all :)Just to add that i attended the recent AFI half yearly...

hi all :)

Just to add that i attended the recent AFI half yearly presentation - some of the board + investment team were there.
Again, very similar experience to ITB's and GJ's - all except one (me) seem to be retirees. Had a strong sense that everyone there have been longtime investors.

@coffeesnob, a few points to add:

(1) ARG is a nice starting point IMHO. If you have a look at its top 10 - you will find all the other quality LICs there - AUI, MLT, think they also hold DUI and CHO..
in any case, they will indirectly hold them too via AUI and MLT. So with ARG - there is no need to choose :) you get to hold them all.

(2) much more diversified than the other LICs - almost 200 holdings. guess this will mean a more index-like performance (but at lower cost than a vanilla index fund).

(3) ARG will have a new CEO this year - so it will mark a new era.. a fairly young guy too - so if it works out, we can enjoy another 20+ years of steady money management.
Plus the soon-to-be-ex-CEO will rejoin ARG on the board.
Whereas, with the other venerable LICs, (besides AFI) they have yet to pass the baton on - not saying this is bad - but i find it harder to see what the other LICs will be like in say 10 years' time.

just my 2c...