A nice little gift turned up at the Intelligent Investor Funds office this week. We were given 366,160 Vision Eye Institute (VEI) shares for $0.34 each. Given the current market price is $0.58, the instantaneous profit on these shares represents $87,878 straight to the bottom line.
While I should be happy and probably keep mum, I’m not. The money we made – and the $3.4m made by other institutional investors – is a direct transfer from retail punters. Their behaviour exasperates me.