What are your thoughts on discounts/premiums when investing in LICs?

Every so often you will see the media up in arms about the “prevailing discount” the bulk of LICs trade at.

We have seen a number of LICs delist or convert into active ETFs and most recently saw Foragers delist and return to being an unlisted unit trust. And when it comes to IPOs they have been virtually non-existent up until the recent Pengana Private Credit offering.

But how do you view the discounts LICs trade at? Do you invest in LICs? And if you avoid them, I’d be keen to hear why as well.

I’ve got my views which I’ll share in the comments but I didn’t want to sway anyone’s opinion.