Have to disagree on WIL being a solid investment stock. The...

Have to disagree on WIL being a solid investment stock. The track record of the managers since inception 7 years ago has been horrible. This is straight from its own website:

Gross Performance* -0.12% +4.96% +0.10% +30.66%
All Ords Accum. -0.71% +5.02% +2.17% +106.08%

*The change in the portfolio before all expenses, fees and taxes.

http://www.wilsonassetmanagement.com.au/ourfunds/wilsoninvestmentfund/performance.htm

It's self evident that if you're buying this for long term gains, surely you can do better with your money elsewhere.

However this is the very reason why I believe it's a good short term opportunity - with that kind of investment track record, investors just don't want to keep their money in WIL anymore. This dissatisfaction, combined with the strong incentive presented by a $20m gap between assets and market value, must eventually culminate in a liquidation of some sort.

Also, re: management's promise to return cash to shareholders raised by another poster, I would be very skeptical of such a promise. I've never seen management of any company give themselves the sack. If shareholders want to be able to redeem their units in this fund at a fair price, they will have to force management to do it.