Eureka Report Correspondence

Is ER giving enough advice? Nevsky Capital, IFP Global Franchise fund.

By James Kirby · 27 Jan 2016

By James Kirby ·
27 Jan 2016

Comments

Eureka's advice

Not sure how Alan can take Long Service Leave at such a critical time for
investors???

I feel we've been badly let-down by Eureka at this time, with no advice as
to what we should be doing to protect our portfolios.

How about returning our funds - we're not getting what was promised.

Yours,

Ian & Margaret

Editor's Response:

Hello Ian and Margaret

I'm publishing your correspondence today as perhaps a severe example of some recent emails where subscribers have expressed discomfort at the market falling 7 per cent or so during the holiday break and our editor in chief Alan Kohler taking leave at the same time. I particularly want to deal with your comment that you have had "no advice as to what we should be doing to protect our portfolios".

Our Eureka Report team of analysts monitored the market every day throughout Christmas and the holidays. However, they found little reason to change our 'calls' on most stocks in most portfolios...in fact we have begun to accumulate some bargains during recent days.

At Eureka we are very confident of our investing style: It has won out during every test of the market, including the very difficult period of 2008-2009.

In other words, our advice always at Eureka is never to panic and never to trade: We are investors and proceed cautiously and with analytical rigor. We don't like to see the market fall 7 per cent over any short period, but then again we have greatly reduced our exposure to the wider market indices in recent years as we specialise in small caps and income stocks.

Separately, Alan has written for Eureka Report since the day we began publishing in 2005 and everyone in our organisation is entitled to long service leave after ten years...even Alan. He will be back at his desk on March 15. Meanwhile, Robert Gottliebsen, one of the most trusted financial commentators and a stalwart of Eureka for more than a decade, is writing our Saturday email in the interim. I hope this eases some of your concerns.

-James Kirby, Managing Editor

Nevsky Capital

I read the Nevsky letter (see Robert Gottliebsen's write up on Nevsky Capital on Saturday January 16 email) in full and what a great (but sobering) summary of the forces at work in world economies and markets. In my little world I intend to remain a focussed value investor following great companies with good prospects.

Keep up the good work
Keith (NZ)

IFP Global Franchise Code

Your review of IFP Global Franchise Fund had no code in brackets after the name - always add the code to anything you are talking about please.

Editor's response: Thanks very much for your feedback. The APIR code for the IFP Global Franchise Fund is MAQ0404AU.

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Eureka Report Correspondence

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Eureka's advice

Nevsky Capital

IFP Global Franchise Code