LRF

In 2008 and 2009, I stated that LRF is selling too far below its Net Tangible Asset value. If your neighbour's house is worth $1 million but he is selling to you for under $600,000, would you buy it? But if you sell it the next day, you will only get under $600,000. But if you wait, and let the market regains its senses, then in the future, you could benefit from buying it on the cheap.

Well, LRF is now worth 84.5c. I topped up in late 2008 and early 2009 for 45c. If you look at what this fund manager selects for its portfolio, you will be impressed. For some reasons, the market does not value its management skill. I am very appreciative. I think the market is starting to value this company as the share price has run up nicely recently.