Our newest LICs: one upgrade, one downgrade

BTI has delivered tidy gains while PIC holds onto a buy call and Cadence Capital moves closer to its NTA.

Up, down and sideways: This has been the fortune of three of our recent most LIC calls, so where do they stand now? A month ago we became comfortable enough with Bailador Technology Investments (BTI) – after speaking with co founder David Kirk for the second time – to bring it into the model portfolio. After placing a buy on it the stock has rallied, and the margin of safety needed to keep it as a buy no longer exists – we’re therefore moving it to a hold. Perpetual Equity Investment Company (PIC) has tracked sideways since our initial call, but it’s still in the buy range, while Cadence Capital moves from a sell to a hold as the share price has closed in on the underlying value of the portfolio.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles