RE:New Topic Discount to NAV why and for how long?I'd agree with both of these points.
The only thing I find funny though, and its a recent phenomenon, is that when there is a discount such as today, and the NAV falls, the price of the split remains pretty stable all the way up until when the NAV approaches the share price and the discount disappears.
It's almost as though the split share market is not buying all of the hype on the underlying portfolio when it runs upward, but then isn't panicing when the NAV falls, which obviously is due to the discount (and the feeling that the cushion is sort of playing with house money, at least it feels that way to me). If it was just based on the above two factors, then I'd expect the discount to kind of remain constant...