controversy rages, page-3

Thanks for posting the link to DrBenjamins analysis. He/she has obviously put a huge effort into gathering and analysing the available data, not much of which is available directly from the LICs web sites or published material directly. I admit that some of the points made in this analysis are obscure (eg control arbitrage, until you think about it for a while) but some are obvious for anyone who does the figures (eg paying out more than they earn, from funds sources from stock sales; manipulation of their stock prices especially around divident reinvestment prices; ramping of the prices of some smaller stocks where several LICs act in cahoots, hence artifically boosting all their NTAs; the negative effect for small investors of cross ownership between LICS). DrBenjamin lifts the veil of marketing hype to show us the self serving and deceitful manipulations of LIC management, that hang small investors out to dry while enriching themselves. Well done DrBanjamin. Its important reading for anyone contemplating investment in a LIC. Shame on ASIC for letting this go on for so long.