Is this as good as it gets ?, page-25

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nicleeson

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23/10/18

23:08

Post #: 36232775
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Originally posted by peejay2 ↑

Originally posted by Occam Logic
Arbitrage. Here is ALFs 12 month rolling TSR (dividends reinvested) vs the portfolio performance net of fees. You can see the market over and under shooting the portfolio performance, the same old LIC problem/opportunity. If you think about it from the perspective of arbitraging the SP vs NTA, current positioning looks potentially attractive. The obvious question is when will portfolio returns start driving again, which is the necessary catalyst for the SP.

When I caught up with him earlier in the year, Justin admitted that the team and strategy changes across the Watermark business over the last two years have been disruptive. But he has pulled back to try and enact a re-set. Portfolio returns, while underwater, do look like they have started to reverse from a year ago. Is it a buy? Who knows. But one to watch for a reversal of fortune.

As the CIO, Justin admitted that "the team and strategy changes ????" have been disruptive ? As the CIO, wouldnt the team follow his guidance in regard to strategy ? and wouldnt he have a large say in the composition of the team ??? I know one thing...... ALF has been disruptive to my investment strategy too ! Indeed a stock to watch for a "reversal of fortune". Thats why I'm still in it... waiting for the reversal !

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Perhaps the reversal will come from just keeping the NTA flat given the way the market is heading right now!

Justin will be a hero in a "Steven Bradbury" like effort. Every fund around him falls and we go from a 15 % discount to a 20% premium again!

ALF Price at posting: $1.02 Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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Is this as good as it gets ?, page-25

Top Stories

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Recce scores $6.75M R&D rebate

Auric sniffs gold up to 12.1g/t through drilling at Spargoville prospects

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

Cyclone signs MOU with Vale for development of Iron Bear play

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Tyranna wraps up lithium drilling in Angola; says looking for other projects with different metals