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If most market particpants dont know their name they are not blue chips, what you are talking about is a stock pickers market, which is kind of the point I was making about small caps. That book looks interesting.

Basically yes with the caveat being I am a tightwad whose interest is long term, I personally cant see any value and I think the current high payout ratio party has just pushed prices up further past reasonable value and also diminished future earnings growth because what was business...

TPI with LICs ROE does not tell the whole story for example if an LIC held only one stock say CBA and Cba went up 5 percent one year that means the LIC ROE is 5 percent even though the ROE of CBA is over 15 percentage. That means the real ROE of the LIC would be 15 percentage if that's all they...

yes accumulation index ;)

Pierso The Australian imputation system doesnt encourage it. What you are looking for ROE holds the key especially if the company has a lower payout ratio like in the US . One example of what I mean is CSL phenomenal dividend(and earnings) growth while maintaining a lower payout ratio...

TPI Good points but dont forget Dividends got cut in the GFC while the LICs basically maintained theirs. I think big LICs try to smooth out the volatility in this regard so they never/barely have to cut, compare 10 years of dividends in AFI to STW for example, even if the dividend growth was...

The thing with LICs you have two types internally managed low fee or externally managed higher fees(usually niche more like smallcap managed or geared funds) My interest with LICs is only low fee internally managed ones.

Large Blue chip LICs like ARG/AFI/MLT have traditionally outperformed the index, they do so by index hugging while excluding stocks that are highly cyclical boom bust ,latest tech bio darlings or any stocks without ff dividends, so on a long term basis I prefer LICs to ETFs especially when at a...