This image will give you some idea of just how strange the current market is. Temple Bar to my mind, has historically been a good an safe performer - it would never shoot the lights out, but it was being conducted by a safe pair of hands.
How easily that has all been swept away! I don't know if there was something nefarious going on, but let's assume there wasn't, it's quite amazing how recent events have caused the share price to plummet.
The chart shows the XIRR of Temple Bar from my experience over the years from 0ctober 2015. The trust returned (for me) around 8% to 12%, a perfectly reasonable return and one which is far from making it a basket case. Then since the spring of this year and covid, the NAV has collapsed and the share price even further. How quick success can turn into disaster.
I'm reluctant to sell at the moment, and indeed the adventurous would be buying. For the moment, I'm staying put as many companies are bog-standard holdings for HYPers which we know have suffered badly: Shell, BP, Rolls, Marks, HSBC, Land Securities plus unfortunates such as Easyjet. Pre-Covid, no one could have looked at the portfolio and said it was stupid - indeed many a HYP would have had many of TMPL's stocks. It was a fair cross section of the UK market - but like many HYPers, Alistair Mundy was caught holding stocks which were trounced. It will come back in time, and was beaten down too far. My only fear is that the new manager will be tempted to clear out some good stock at bargain basement prices and make matters worse.