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17-09-2017, 11:19 PM
Full disclosure, was vested at one point. Started out as an investment, that turn into a binary trade (for the IPO).
Was lucky that I was able to exit at just the right time last year before it was clear that the IPO will not materialize.
On hindsight, it's was an investment that was "too hard". Forensic accounting is not my strength.
What kept investors going was Thoresen Thai and Goldman Sachs' involvements along the way. What broke the camel's back (to me) is that insiders never bought back shares despite record profits, when valuation was hugely distressed; worst, they even issued rights at distressed valuations.
Was lucky that I was able to exit at just the right time last year before it was clear that the IPO will not materialize.
On hindsight, it's was an investment that was "too hard". Forensic accounting is not my strength.
What kept investors going was Thoresen Thai and Goldman Sachs' involvements along the way. What broke the camel's back (to me) is that insiders never bought back shares despite record profits, when valuation was hugely distressed; worst, they even issued rights at distressed valuations.
Quote:"What you find is there's never just one cockroach in the kitchen when you start looking around," Warren Buffett, on Wells Fargo 2017/08/30