Life & Banc Split Corp T.LBS

LBS unit nav rising

[mouserman]

SO with the 4 CAD lifecos the as the top 4 holdings in LBS, it is also good play on their potential going forward. Nearly 50% of the NAV of LBS is in these 4 lifecos, that have outperformed the banks as a group in 2023. Decided to bite on some today, as the UNIT NAV  is rising again today....

[NoShoesNoShirt]

Mouserman I'm surprised you're buying because it has a huge premium.?

[mouserman]

Premium not so big... LBS unit NAV in realtime is $16.67  jup about 15 cents since last thursday update. Last sale @ $7.85 means the premium is about $1.18 or about  17.6%.  And its not so much about the premium, as just a way to play the CAD  lifecos  along with the 6 Big CAD banks. IF the 4 biggest holdings were NOT lifecos, i would not have the same bias towards playing

[navgod]

Funny I am short LBS for the same reason you are going long -- the high waiting in Cdn Insurance. My short partly offsets a huge position in LCS and LFE. Why not buy those as you are not heavily invest at the moment? In the current market a 17.6%  premium is big.

[mouserman]

I got out of LCS , and was chasing trying to get back in.... but decided the big weighting in lifecos in LBS justifies having a bi of it. I am mostly in preferreds , but like LBS better than FTN which has big US bank exposure. I am guessing LCS will pass FTN in UNIT NAV in a month or so, but not in share price.