Q: A friend of mine who works in Venture Capital recently told me about a small tech fund that was being managed by Damien Leonard, Mark Leonard's son. The crazy part - it's the old PineTree Capital, that terrible mutual fund-like investment product that would buy speculative mining companies and ruin shareholder capital. The Leonard family home office (incl. some of Mark's cash) now owns over 30% of the company. Upon doing some research, it looks like the company is trading at a 25% discount to book value although the new tech investments are not disclosed.
What are your thoughts? Would this be an appropriate 1% position (despite low liquidity) knowing that very few people understand investing in software companies like Mark Leonard, Damien's biggest mentor?
What are your thoughts? Would this be an appropriate 1% position (despite low liquidity) knowing that very few people understand investing in software companies like Mark Leonard, Damien's biggest mentor?
