Please Explain, page-63

You malign me. I dont think... (but stand to be corrected) that I have suggested a winding up. I have suggested a change of management, or a take over by another manager or a change of strategy, but I dont think a winding up.
You also misjudge others by suggesting that nothing has changed in the funds strategy. That is not the case as noted by others that the fund was previously a well performing australian equities fund when both I and others bought in. It is that no longer ! To suggest that there will be a 13% return or so if the fund reaches its NTA disregards the opportunity cost of the negative returns over the last 2-3 years together with a real loss in the share price if one were to sell now. I take your attitude as one being akin to smug saying that I have not made the “mistake” that you have ! I am not a speculative investor and would expect that a professional fund manager would be able to at least get back a return eqivalent to bank interest without doing anything !
In 2014, the share price was over $1.70, and no, I didnt buy in then. From 2014 till your proposed turnaround to NAV in 18 months time in 2019 will have been 5 years in duration with an approximate 30% decline in share price IF the share price reaches $1.20 by then, it will have in that duration lost 30% of the share price.
You call that good stewardship and management ?
I take full responsibility for my decisions and have NEVER tranferred the blame onto others. If i pay someone to do a job, thats what I want and expect just the same as if I were to get a plumber to fix a leaky pipe. If the pipe still leaks, he hasnt done his job. And neither has Justin Braitling. Thats not passing the buck or the blame, just pointing out that professional fund managers are paid to do a job, and in this case, I dont think thats happening.
I will be quite happy to be clarified on any point and to have others opinions criticising me if I have erred.
Dont forget also that the term “relatively significant holding” is in relation to your total funds and opinion.......but I also think that the underperformance and mismanagement of the fund both as a stand alone entity and compared to other similar listed investment funds is also “relatively significant” !