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Re: Re: [sharechat] ITC

From:	"Steve Moxham" <stevemox@e3.net.nz>
Date:	Wed, 15 Nov 2000 16:57:22 +1300

That seems to be the common factor with listed VC firms. They're cheap.

If you remember back a few years to when Direct Capital was listed on the market, they spent much of that time trading at a frustratingly high discount to NTA. Often 30% or greater.

They made good investments and good profits but IMHO the nature of their business meant that investors built in a high risk factor because of the uncertainty of future investment performance.

Some of their investments included Nobilo wines, Palliser Estate (unlisted board), Genesis Research, Ryman Healthcare, Blue Star Group, PC Direct, and Sky City.

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