other lics, page-11

"CK ......good comments ....But could you elaborate on your reasoning to place AFI a distant last ....cheers"


I wouldn't say distant last, I ranked it below the other six, but still has merit (unlike all the rest which have no merit whatsover)

The reasons for ranking AFI, DJW, MIR lowly amongst the legitimate LIC's is due to the historical link with JBWere.
In the past, those LIC's subscribed to many JBWere promoted/underwritten IPO's. Let's face it, how many IPO's are worthy ? 1 in a 100 ?
So I formed this opinion that at times they became dumping grounds for those IPO's.

I acknowledge that AFI at least now operates well, almost on a par with ARG. I would not recommend against investing in AFI.

It's personal thing. I strongly believe that the default sentiment for every stock is AVOID, until proven otherwise. This means that companies must demonstrate to me, over a meaningful period of time, that I should own them. AFI are doing this now. But I am a very patient and demanding investor.


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