The questions you have to ask are things like - what do they hold when compared to these other LICs, which of those sectors are doing well right now and/or in the future, how competent (or perceived to be) are the management team, how liquid (how much public interest is in) is the stock (and thus, how open is it to being regularly revalued against NTA).
If it has out/underperformed the market over the longer term, why ? Does it have as long a track record as AFI, ARG or MLT ?
Sometimes the market is right, and sometimes, it's completely wrong...this is where you have to research why - the above is a good start.
MLT Price at posting:
$3.44 Sentiment: None Disclosure: Not Held