Laxey's attack on Alliance Trust makes me think of a dinghy trying to sink a battleship with a peashooter. I'm a long-term investor (in both senses) in ATST and I admit to having slightly mixed feelings here. ATST probably could do with a bit of a shake up but like many small investors I value its stability and I'd be very reluctant to see anything happen which could put that at risk. I understand that ATST does buy back shares from time to time without the straitjacket of a formal discount control mechanism and on balance I'd rather leave it like that than risk the law of unintended consequences.
