Top member reports
No meetings
Consensus community valuation
The consensus valuation is for members only and has been removed from this chart. Click for membership options.
Content is delayed by one month. Upgrade your membership to unlock all content. Click for membership options.
Valuation of $2.10
stale
31/03
Thesis below is broken. A realisation of NTA appears unlikely and the on market buyback is not enough to justify having this in the portfolio at the current 15% discount. Probably at fair value now.
The case for this one is simple. It's trading at close to a 20% discount with an investment manager that has a lot of skin in the game and has shown desire to undertake capital management initiatives in order to close the discount.
To value this I'm going to assume the NTA of $2.60 is realised in 2 years time and in the meantime roughly $0.15 of gross dividends are received.
Upside comes if the discount is closed sooner or portfolio performance is strong. 
Read More