sign of the times, page-16

I don't believe the underperformance of ARG relates to the share purchase plan.

If you look at the other large listed investment companies like AFI and MLT you can see that their share prices have also stagnated during february and march while the overall market has surged.

I think the underperformance is simply more sellers than buyers since the dividends were paid combined with the effect of rising interest rates which have encouraged conservative investors like those who invest in LICs to increase their cash allocation.

I estimate that ARG's NTA for March 31 will be around $6.55 and this will probably be announced this week.

I expect this will put strong upward pressure one the share price in the short term. I am hoping the stock will reach $6.60 by Friday!

Dreamcatcher