buffett - this one's for you, page-14

Guys,

Weiss and Carousel picked up all their stock through the 1 for 1 option with a strike price of $1. At the time the oppy was banging around 1-2 cents, so they were able to pick up millions.

They paid the $1, then had 30% and immediately called a meeting and were paid out a fortune (the NTA was around $1.50)

Weiss and Carousel wont be back, because they need a stake big enough and I could guarantee you that Clive wont be doing a 1 for 1 again, nor any medium - large LIC running at a sizeable discount.

As for the discount now exceeding 35%, LRF holders are not alone, there are a few others in the same boat. Personally, I bolted from LRF and bough 50/50 AGO + RIV (LRF's two biggest listed stocks) and I havent looked back.

P