Interesting, LICs buying undervalued LICs....

Interesting, LICs buying undervalued LICs.



http://www.smh.com.au/money/10-stocks-you-can-buy-tomorrow-20120428-1xrw1.html

CONTANGO MICROCAP
All Contango MicroCap does is invest in other stocks, yet its share price is 25per cent below their value.
Say no more. Geoff Wilson's WAM Capital, also a listed investment company with a track record of spotting opportunities, has been buying the stock for that very reason.
Another anomaly is Ironbark, which trades 10per cent below the value of its holdings. Yet under its constitution its shareholders can vote to liquidate the portfolio and get the money back in 2014-15.
Seems a sure bet, except you'd be punting on the sharemarket not slumping so far that the value of its portfolio falls below the price you paid for its shares. But then if you thought that's going to happen, there'd be no point buying any shares.


Read more: http://www.smh.com.au/money/10-stocks-you-can-buy-tomorrow-20120428-1xrw1.html#ixzz1tl5qEM27