Perth Investor Presentation, page-5

Good to see that everyone appears about as disenchanted with this stock as I am.  I am a long term holder (Jun 2009) and there was a time when this share and its managers could do no wrong.  Whatappened ?

The swan has turned into a VERY ugly duck and due to a miscalculation on my average holding cost, I didnt realise how much of a "turkey" this share has become.  I am looking at the ALF December Monthly update and it reads badly.  A 3.7 % loss over 6 months, a 3% loss over 12, and a 0.1% return over 2 years !
I am down 11% over his time (excluding dividends and capital return (which I had forgotten)).  I wonder how much Justin Braitling has of his own money in ALF, cause he's not exactly getting rich on the back of the rising share price !  perhaps the fees are sufficient ! @nickbell47,  Your statement  " I left with the impression that he remained convinced that his strategy was sound"  doesnt exactly fill me with hope because of the old saying to the effect that the market can remain down longer than you can remain solvent......that Justin and his team havent been flexible enough to realise that their strategy hasnt worked over 2 years is a real concern.  We could only hope that GW might step in, given the discount to NTA.....
Re LIC's, dont be too negative as I have been gradually (without even realising it) going towards LICs.  I was in CTN - (now, dubiously managed by NAOS), Roger montgomery's Global Fund, Cadence, Westoz (WIC) and I have bought options that I plan to take up in Ellerston Asian Investment (EAI). The Wilson suite of funds may not be increasing dramatically, but the management team is astute and honest.  I also have CYA, WLE and only today I sold half of my WMI as I have made 37% in 6 months.  I cant see that happening over 12 months.  Also MFF is worth looking at, but not so much as a dividend payer, rather for capital appreciation.

Its hard to understand when a so-called expert has had his head in the sand in what over the past two years is one of the best investment climates for years.

One wonders what has to happen for their strategy to change.

Disclosure:   I dont like losing money !