One or Two27 Apr 2019 13:13
comments this last week along the lines of this being a long-term hold, implying perhaps that we will be marooned at these levels for some time.
While I agree that the underlying value locked in some of our investees may take years to surface, we should remember that it is not necessarily the intention of our Board to hold individual companies that long; if they see a quick few hundred percent profit, such as happened with Aphria last year, they may well be inclined to take it. In that respect, we have some prime candidates in the series funding rounds, in the potential IPOs, or simply in the investees in which our investment has reached some maturity. In the coming year or so these milestones might tempt our Board to take profit; So I would not agree at all that we are condemned by this current AIM bear market to wallow indefinitely at these levels; a sale of, for example, our Leap interest, could add 50% to our NAV in short order.
The news flow over the past year has been disappointing, but to turn on their heads the words of the caveat posted at the bottom of many investment opportunities, 'past performance is no guarantee of future results'.