LICs, page-337

Interested but not surprised that the Firetrail LIC float was pulled at the last moment..... nothing against Firetrail or its managers because I don’t know them.  I am a little surprised that they reached their minimum given the way LICs have been performing of late and how much of a discount that they seem to trade at.

i hold everything from ALF, CDM, GC1, CVF, LSF, and MFF along with some of the Wilson Funds and it seems that virtually all of them are significantly discounted except Wilson.  I dont know if that’s to do with my fund choice,or the general despondency in the market at the moment.  Firetrail may have picked a good time to float with stocks lower and sentiment in the market gloomy, but I guess the lack of an oversubscription is investors telling fund managers that they are generally not interested in taking fresh chances and are more focussed in protecting and watching what they have, (or have lost).