murramarang & rubs1973 I feel your pain. I had about 10% of my...

murramarang & rubs1973

I feel your pain.

I had about 10% of my super in CTN.
I sold most of it after the EGM vote in March because I suspected that CGA were all hat and no cattle, and that my interests didn't feature very highly in the priorities of the new CTN board. But I certainly didn't anticipate the extraordinary circus that we have witnessed since.
(By the way, I posted a potted history of CGA/CTN on the BSA thread, in which Naos has a substantial holding, but that history is already out-of-date because it doesn't include the departure of Yogi Bear's little mate from CGA.)
Selling CTN after the EGM was painful enough, but it beats where the price is today.

Since then, my own small cap stock picks have done considerably better than CTN, but that is a low hurdle. Lets face it, the proverbial dart throwing monkey could have done better than CTN this year, even if the monkey was having a really bad patch.

Calendar year to date, CTN's price has gone from $1.12 to $0.90 and they have paid $0.066 in dividends.

By my reckoning, YTD, CTN has returned circa -13.75%, that's minus 13.75%, as against the XSO accumulation, which over the same period has returned about +12.5%.

YTD, and based on today's price and the NTA at the end of September, the discount to the before tax NTA has increased from circa 4.6% to 12.9%. Allowing for the deeper discount to NTA, the underlying investment performance relative to the XSO accumulation is about -18.9%. But adjusting for the discount to NTA is academic. I cannot spend the discount-to-NTA at the grocery store.

If perchance the CTN portfolio had a ripper October, then the present discount to NTA must be even deeper than the 12.9% mentioned above, and why wouldn't it be, given the recent shenanigans.

I wonder when we will get the CTN NTA for the end of October out of Naos?

Will we to get an NTA for CTN from Naos?

Cheers

These are my opinions only. Nothing that I have written here should be construed as disparagement of any of the parties or entities involved. For all I know, all of the parties and entities may be completely convinced of the correctness of their actions and be acting from the highest possible motives with all due skill and care in accord with their various responsibilities and obligations. Any figures and facts are mentioned in good faith but I accept no responsibility for their accuracy.