RE: JM offloading again24 Jun 2021 08:07
Well I certainly don't understand why some people put JM on a pedestal. He's just a punter like the rest of us, just happens to be a rather rich one. This has enabled him to join a small club that comprises Akers, Normand and others, and together they seem to have garnered a following of enthusiasts. This seems to be related to the success of AAA, but the investment that AAA made could easily have been just a lucky break. All investment companies or SPACs take a punt on whatever they back. AAA got lucky.... VELA owns tiny percentages of a few startups (compare those percentages to Tern's investee holding), so tiny that it's hard for me to see how they'll ever make much money. In short I really don't see any evidence that persuades me that this group of people are worthy of the praise they seem to get. I confess I got pulled in here myself on the hype. I choose to believe that I won't regret it, but that's partly because I'm committed now and would rather smile than weep. The only SPAC type 'leader', if you can call them that, that I'd follow would be Vin Murria, and I might well put something into Summerway if I can find any cash.
I think we may all of got a bit carried away with the temporary SPAC fad.