The horror show continues.

The highlighted should read: Highly leveraged, concentrated, barely active investment strategy with an exposure to emerging companies.

Reinvesting 10% of management fees is pretty insignificant, especially when the fees are high in the fist place.

I actually don't mind some of their underlying investments, although some really have be baffled and have been absolute dogs.

Something has to give sooner or later?

I have no words. Surely old mate Wilson is having a little sniff around the NAOS stable now. How is the NAOS even making any money as a manager at this stage?

Oh dear...

I hope these guys can pull a rabbit out of the hat, this is getting embarrassing.

I just don't understand why anyone would want to hold this near NTA. Boggles the mind. Must be that big juicy dividend yield (that is actually just capital being shoveled out the door)?!