I don't want to start ww111 here. Simply looking to identify my...

I don't want to start ww111 here.
Simply looking to identify my mistakes so as not to repeat them
Happy to be contradicted
I guess that my point is that an LIC would not be considered a trading stock so the average buyer will look at
discount/premium to NTA
Past performance
Management Team
Trading Statagies
Current Investments
If you are a long term investor and NOT looking to "outsource " the work involved then the last two points are the only points that are relevant. ie you believe that you have the ability to investigate multiple companies and put in a place a trading strategy superior to that which can be provided by a professional fund manager.

The two point most helpful here would be to have an education appropriate to the task and background in finance/management.
I got lazy and decided to "outsource" a very small percentage of my SMSF based on my assessment of the 5 points listed above.
I was wrong.
Why ?
I'm not really looking for an answer here. Just making the point that at the end of the day every holder for whatever reason put complete faith in the management team to do a better job than we could do themselves and no amount of research, multiple degrees , business experience , self aggrandizement self justification or wishful thinking can change that incorrect decision as the holders have no imput into how the fund is managed.
Nice to see that ALF is up today.